Ermenegildo Zegna N.V. Q1 2026 Earnings Release

Ermenegildo Zegna N.V. reported solid Q1 2026 revenues of €470 million, a 2.5% increase year-on-year and a 7.4% increase on an organic basis. This growth was primarily driven by a strong performance in the Direct-to-Consumer (DTC) channel, which saw a 7.8% increase year-on-year and a 14.2% increase organically. The ZEGNA brand revenues grew by 5.9% year-on-year (11.3% organically) to €310.3 million. Thom Browne revenues decreased by 9.4% year-on-year (-3.0% organically) to €58.2 million, while TOM FORD FASHION revenues saw a slight increase of 0.4% year-on-year (5.4% organically) to €67.7 million. Geographically, all regions showed positive organic growth, with the Americas outperforming and the Greater China Region returning to positive growth. The company's strategic focus on the DTC channel continues, leading to a decrease in wholesale revenues.