#Textiles & Apparel / Garment

2023-09-14

Zegna Group reports strong first-half 2023 financial results

Ermenegildo Zegna N.V. (NYSE:ZGN) (“Zegna Group,” “the Group,” or “the Company”) announced profit of €52.1 million and a profit margin of 5.8% for the six months ended June 30, 2023, off revenues of €903.1 million for the same period, as announced on July 27, 2023. The Group recorded Adjusted EBIT of €119.9 million for the six months ended June 30, 2023, an increase of 45.0% year-over-year compared to €82.7 million in the first six months of 2022, and an Adjusted EBIT Margin of 13.3%, an increase of 200 basis points compared to 11.3% in the first six months of 2022.

Adjusted Profit for the six months ended June 30, 2023, was €54.9 million, an increase of €32.1 million, or 140.5%, compared to €22.8 million for the first six months of 2022.

First Half 2023 profit1of €52.1 million, profit margin of 5.8%, and Adjusted EBIT2 of €119.9 million demonstrate broad-based strength.

Adjusted EBIT Margin2 increased by 200 basis points to 13.3% thanks to a remarkable improvement in ZEGNA store productivity, and despite higher costs for growth.

Group reaffirms its mid-term targets.

Capital Markets Day to be held in New York on December 5, 2023.

Ermenegildo “Gildo” Zegna, Chairman and CEO, said: “Throughout the first half of the year, Zegna Group’s unique capabilities have been on full display, contributing to continued and strong revenue growth. This is particularly evident in the outstanding performance in the United States and EMEA, as we communicated back in July, as well as in our significant progress towards growing profitability. Our performance during this six-month period again confirms the successful execution of our strategy, including our ZEGNA One Brand strategy – which is driving remarkable improvements in productivity across our direct-to-consumer stores, and our commitment to continue investing in marketing and advertising, as well as the expansion of distribution across all our brands. Our Made in Italy Luxury Textile Laboratory Platform, which directly benefit our group brands, continues to be an important part of our growth blueprint.”

“As we progress in the second half of the year, we continue to be extremely attentive on executing our plan, with a major focus on working alongside the new leadership team at TOM FORD FASHION to further develop and position the brand as an icon in ultra-luxury while also supporting the further expansion of the Thom Browne footprint. In this dynamic operating environment, we are encouraged by the strong growth we are seeing in the United States and EMEA but also acknowledge the impact of a milder recovery in Greater China. I am proud of our exceptional leadership team, and we are confident in the steps we have taken to position our portfolio of brands in the more resilient ultra-luxury segment and to strengthen the Group’s own retail network and achieve a more balanced geographical presence. There is rich and exciting potential for the Group’s three brands, and we look forward to continuing to execute our strategy to enhance their performance even further.”

1 Profit refers to profit of the Group (including profit attributable to non-controlling interests).

2 Adjusted Profit, Adjusted EBIT, Adjusted EBIT Margin, Adjusted Diluted Earnings per Share, and Net Financial Indebtedness/(Cash Surplus) are non-IFRS financial measures. See the Non-IFRS Financial Measures section starting on page 11 of this press release for the definition of such non-IFRS measures and a reconciliation of such non-IFRS measures to the most directly comparable IFRS measures.

https://www.businesswire.com/news/home/20230913135111/en/Zegna-Group-Reports-Strong-First-Half-2023-Financial-Results

Texprocess 2026: Automation, digitalisation and AI redefine textile processing

Making investment decisions in textile processing has become significantly more demanding. Increasing energy costs, a shortage of skilled labour and ongoing geopolitical uncertainties are compelling companies to focus on technologies that deliver clear gains in efficiency and process reliability. This applies equally to apparel manufacturing and to the processing of technical textiles and high-performance materials. As a result, modernisation initiatives are assessed more carefully – even as the need to upgrade production systems continues to intensify.

Techtextil 2026: Between innovation pressure & market reality

From 21 to 24 April 2026, Techtextil in Frankfurt am Main will once again become the central meeting point for the international technical textiles and nonwovens industry. Running in parallel, Texprocess will focus on the industrial implementation of textile processing technologies as the leading platform in this field. Together, the two trade fairs form a closely integrated presentation and working platform along the entire textile value chain – from material development to finished applications.

Between geopolitical pressure and industrial resilience

In this interview, Dr. Janpeter Horn (VDMA) discusses the current challenges facing textile machinery manufacturers, shaped by geopolitical tensions, regulatory developments and subdued investment. He also outlines why innovation strength, integrated solutions and strategic positioning remain key to global competitiveness.

Texhibition Istanbul signals stability and global connectivity

From 4 to 6 March 2026, Texhibition Istanbul once again brought together the international textile industry at the Istanbul Expo Center. Organized by İTKİB Fuarcılık A.Ş. in cooperation with the Istanbul Textile Exporters Association (İTHİB), the fair confirmed its role as one of the most important international sourcing platforms for fabrics and textile innovation. With 500+ exhibitors across 5 halls on 42,850 sqm, the trade fair attracted 19,325 visitors. Among them, 5.565 international visitors represented Europe, Asia, the Middle East, North Africa, North America, and other regions, underlining the show’s expanding global reach.

Val:ue Milan unveiled – a curated boutique business hub for high-end apparel textiles

Messe Frankfurt continues to expand its international textile network with the announcement of Val:ue Milan. Moving beyond the traditional trade fair model, Val:ue Milan debuts as a prestigious, boutique-style business hub exclusively dedicated to elected fabrics and accessories for apparel. Taking place from February 3 to 5, 2027, at The Mall in Porta Nuova, the event breaks away from conventional formats through a strictly curated environment designed for strategic networking. By bridging the gap between high-end international manufacturers and top-tier segment buyers, Val:ue Milan further strengthens the Group’s global portfolio with a unique, high-impact concept built around a refined and carefully selected offering.

Solving the Feedstock Gap: Unlocking Post-consumer Feedstocks for Textile-to-Textile Recycling in Europe

Fashion for Good launches Project FAE (Feedstock Activation Europe) to develop the sorting and pre-processing infrastructure needed to channel non-rewearable post-consumer textiles into textile-to-textile (T2T) recycling at scale. The project is a practical response to one of the most pressing problems in textile circularity: making post-consumer waste a viable, commercially competitive raw material for recyclers.

Kornit Digital expands digital production into footwear and technical textiles with Presto MAX PLUS

Kornit Digital (NASDAQ: KRNT) (“Kornit” or the “Company”), a global pioneer in sustainable, on-demand digital fashion and textile production, today unveiled the Kornit Presto MAX PLUS, a new roll-to-roll system expanding digital manufacturing into footwear, automotive interiors, military camouflage, high-performance sportswear, and high-end furnishings. Debuting at Texprocess 2026 in Frankfurt, Presto MAX PLUS enables entirely new applications for on-demand textile production.

Covestro, FILK Freiberg, and OUT e.V. develop flexible, conductive polymer smart textile system

As the smart textiles market continues to grow across healthcare, personal protection, sportswear, and automotive applications, developers are seeking new ways to integrate electronic functionality directly into textiles, without the rigidity and complexity of conventional wiring. To address this challenge, FILK Freiberg Institute, an independent research institution with expertise in polymer coatings for textile applications, collaborated with Optotransmitter-Umweltschutz-Technologie (OUT) e.V. The joint project, funded under the German Industrielle Gemeinschaftsforschung (IGF) program of the Bundesministerium für Wirtschaft und Energie (BMWE), focused on developing flexible, conductive polymer surfaces for next-generation smart textiles.