Luxury conglomerate Zegna has released its fiscal year 2021 results, revealing a remarkable 27% growth compared to the previous year. The company’s sales reached a total of €1.292 billion ($1.432 billion), exceeding expectations since its listing on the New York Stock Exchange in December 2021. The surge in global revenues can largely be attributed to the booming North American market.
Zegna saw a significant increase in sales across all geographical regions, with North America leading the pack with a staggering 46% growth. This positive trend was also evident in the Asia-Pacific region, where Zegna achieved a 26% growth in revenue, amounting to €696 million ($772 million). The strong performance in this region was fueled in part by a solid 34% growth in Greater China, which experienced a 36% increase in luxury goods sales in 2021.
On the other hand, the European, Middle Eastern, and African (EMEA) region experienced a more modest growth rate of 20%, reaching €380 million ($421 million). However, it’s worth noting that the United Arab Emirates witnessed a significant increase in revenue, indicating potential for further growth in the region.
Breaking down the results by brand, Zegna reported sales of €1.035 billion ($1.148 billion), representing a 23% growth in 2021. Notably, Thom Browne, a brand acquired by the group in 2018, saw an impressive 47% growth, with revenues reaching €263 million ($291 million).
Various factors contributed to Zegna’s strong performance in 2021. The company successfully expanded into new markets and capitalized on the strong demand for luxury goods, particularly in North America and China. Zegna’s strategic focus on retail stores, combined with its online presence, played a significant role in its growth and enhanced customer engagement.
With these outstanding financial results, Zegna is poised to solidify its position as a leading luxury group in the global market. The company’s continued expansion into new markets and its ability to meet the demands of affluent consumers worldwide are key factors that will contribute to its future success.
Please find below two useful links regarding Zegna’s fiscal year 2021 results:
1. Zegna Official Website
2. Business of Fashion – Zegna FY2021 Results Analysis
