Ermenegildo Zegna, the renowned Italian fashion house, experienced a significant increase in revenue in the latest quarter, primarily due to its successful presence in the United States and a rebound in the Chinese market. As a result, the company’s shares rose by 6.2% to $12.20 at 1:24 p.m. ET.
Impressive Growth in the U.S.
Ermenegildo Zegna achieved remarkable success in the United States, with fourth-quarter revenue reaching €125 million ($135.6 million), a substantial 63% increase compared to the previous year. Despite the volatile consumer environment in the country, the company remains optimistic about its growth prospects.
Promising Performance in Asia Pacific
In the Asia Pacific region, Ermenegildo Zegna witnessed a growth in revenue of 39%, totaling €241 million. This significant increase was largely driven by China, as well as exceptional performance in Japan and other parts of Asia.
Rebounding in Greater China
The Greater China region played a pivotal role in Ermenegildo Zegna’s success, with a revenue of €176 million in the fourth quarter, representing a notable 35% year-on-year increase. The company attributes this rebound to its strong presence and popularity in the region.
In total, Ermenegildo Zegna achieved a remarkable 40% revenue growth in the fourth quarter, amounting to €570 million.