Zegna group sees 2.5% revenue boost, dtc dominance accelerates

Ermenegildo Zegna Group is navigating a shifting luxury landscape with surprising resilience, reporting a 2.5% year-over-year revenue increase to €458.8 million in the first quarter of fiscal 2026 – a figure that significantly exceeded analyst expectations.

Strategic retail focus drives growth

The group, encompassing Zegna, Thom Browne, and licensee Tom Ford Fashion, attributes this success to its continued commitment to a retail-first strategy. A staggering 85% of sales now originate from direct-to-consumer channels, a testament to the evolving preferences of discerning shoppers. This DTC surge, particularly within the Americas – experiencing a robust 9.6% revenue jump to €137 million – is clearly proving pivotal.

Thom browne faces challenges, tom ford soars

However, the performance wasn’t uniform across all brands. Thom Browne showed a concerning 9.4% decline in revenue, primarily due to headwinds in the wholesale sector. Yet, the brand’s DTC channel demonstrated noteworthy growth. Interestingly, Haider Ackermann’s Fall/Winter 2026 collection generated considerable buzz, fueling a 0.4% increase in Tom Ford Fashion revenue to €67.5 million.

Regional variations highlight market nuances

The Americas emerged as the strongest performer, demonstrating a clear appetite for luxury goods. EMEA, conversely, experienced a slight dip, down 0.8% to €152.9 million, largely stemming from weakened wholesale activity. Greater China saw a modest 0.7% increase, while Asia-Pacific registered a marginal decline of 0.6% to €55.5 million. The group’s leadership, spearheaded by Ermenegildo “Gildo” Zegna, remains resolute, emphasizing a ‘think slow, act fast’ approach to decision-making – a strategy designed to adapt proactively to increasingly volatile market conditions.

“Looking ahead,” Zegna stated, “we will continue to prioritize strategic investments and rapid execution, ensuring we remain firmly aligned with our long-term vision. This isn’t about chasing trends; it’s about anticipating them.”