Ermenegildo Zegna Group, owner of Zegna and Thom Browne and licensee of Tom Ford Fashion, reported revenues declined 1.5% year-on-year in 2025, ended December 31, to €1.92 million.
Profit improved significantly, up 20% year-on-year, while gross profit margin increased 90 basis points, driven by a more favorable channel mix. Direct-to-consumer (DTC) sales rose 4 percentage points to 82% of total revenues. Adjusted EBIT declined from €184 million to €163 million (the company lost €10 million in a provision for expected losses on trade receivables related to Saks Global).
The Zegna brand recorded revenues of €1.18 million for the 2025 full year, up 1.5% year-on-year. Thom Browne revenues declined 14.7% to €268.5 million, while Tom Ford Fashion revenues were flat, up 0.8% to €317.1 million.
“Looking ahead, recent developments in the Middle East have introduced additional uncertainty across the sector,” said executive chair Ermenegildo Zegna in a statement. “In this more complex environment, our priorities remain clear: disciplined growth, strong cash generation, and rigorous execution to deliver on our targets. While we remain vigilant to potential risks, our ambitions are unchanged — and so is our determination to deliver on them, together.”
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