Americas revenues, meanwhile, were up 14% to €138.3 million for the quarter, once again boosted by Zegna growing double digits, despite a slight offset by the brand’s 9.8% wholesale decline. Tom Ford — a growing industry favorite on the fashion week calendar, under Haider Ackermann’s creative direction — also saw solid Q3 growth in the region.
Greater China revenues increased 8.7% to €84 million, driven by Zegna and offset, in part, by a decline at Thom Browne; the rest of Asia-Pacific was up 3.6% to €49.3 million, led by positive performances at both Tom Ford and Zegna.
The quarter’s performance reflects the strategy the group has been pursuing across all regions, group CEO Gianluca Tagliabue told investors on Thursday. “The momentum we first built in the Americas and in the Middle East is now increasingly extending to continental Europe and to Greater China, broadening the foundations of our group,” he said. “This is evidence not only in the brand’s performance across regions and customer nationalities, but also across product categories and client segments.” Tagliabue credited Zegna brand’s growth to both loyal and new customers.
“Looking ahead, we remain cautiously confident knowing that the uncertainty in the global environment remains pretty high. Within this context, what matters most is the solidity of the vision and the ability to engage with consumers,” Tagliabue added. “The appetite for luxury is and remains strong. Ultimately, the opportunity is there — it is up to each brand to earn its share.”
