Ermenegildo Zegna Group, a renowned Italian luxury fashion company, recently presented its medium-term outlook during its second Capital Markets Day at the New York Stock Exchange. The company showcased its commitment to growth and highlighted its recent acquisition of Tom Ford Fashion as a driving force behind its future success.
It is important to note that although Estée Lauder Companies acquired the Tom Ford brand last year, Ermenegildo Zegna Group holds the license for its menswear, womenswear, and accessories divisions. This means that Zegna is responsible for the design, development, merchandising, production, and distribution of Tom Ford Fashion products in both retail and wholesale channels.
The Zegna Group has set ambitious targets, aiming for an average annual sales growth rate of over 10%. Additionally, it anticipates a 20% increase in adjusted operating profit in the medium term, amounting to €1.5 billion. The company is optimistic about the potential to generate surplus cash as well.
Ermenegildo “Gildo” Zegna, the CEO of the Zegna Group, expressed confidence in their ability to achieve these goals, citing the successful track record of Zegna and Thom Browne. With the addition of the Tom Ford Fashion brand, Zegna aims to leverage the strengths of its luxury portfolio and capitalize on their respective growth cycles.
In the first nine months of the year, Ermenegildo Zegna Group generated a revenue of €1.33 billion, marking a significant 22.9% increase. During the same period, Tom Ford Fashion achieved sales of €139 million. Peter Hawkings serves as the artistic director of the brand, while Lelio Gavazza recently assumed the position of CEO in mid-September.
With promising financial projections and the strong position of its luxury brands, the Ermenegildo Zegna Group is well-positioned to thrive in the competitive fashion industry. Their commitment to delivering high-quality products and satisfying customers further enhances their prospects for success.
[Include relevant links here: Ermenegildo Zegna Group Official Website Tom Ford Official Website]
