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Ermenegildo Zegna N.V. - ZGN STOCK NEWS

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Ermenegildo Zegna N.V. (symbol: ZGN) is a renowned luxury fashion company founded in 1910 in Trivero, Italy by Ermenegildo Zegna. The Zegna Group specializes in designing, creating, and distributing high-end menswear and accessories under the Zegna brand, as well as luxury womenswear, menswear, and accessories under the Thom Browne brand. The Group is also distinguished for its luxury textile laboratory platform, which is dedicated to preserving the artisanal mills in Italy that produce the finest fabrics.

The Zegna Group operates through three primary segments: the Zegna segment, the Thom Browne segment, and the Tom Ford Fashion segment. The Zegna segment includes Zegna Branded Products, Textile, and Third Party Brands, and it generates the majority of the company’s revenue. With over 500 stores in 80 countries globally, including 297 directly operated stores, the Group ensures that its high-quality products are accessible to a broad audience.

Over the decades, Zegna Group has transformed from a producer of superior wool fabric into a global luxury powerhouse. This growth has been marked by significant milestones, including the company’s listing on the New York Stock Exchange on December 20, 2021. The company continues to innovate and expand its offerings, maintaining a commitment to quality and craftsmanship in every product.

Recently, Zegna Group has embarked on several noteworthy projects and partnerships. These initiatives are aimed at reinforcing its market position and responding to the evolving demands of luxury consumers. Financially, the company has shown resilience and growth, reflecting its strategic operations and robust business model.

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Ermenegildo Zegna Group reported revenues of €1.357 billion for the first nine months of 2024, a 1.7% YoY increase but a 4% organic decline. Q3 2024 revenues were €397 million, marking a 7.8% YoY decrease and a 6.7% organic decline. The ZEGNA brand saw a 3.4% YoY increase in 9M 2024 and a 0.9% YoY increase in Q3, driven by positive DTC performance, particularly in the Americas, EMEA, and Japan. Thom Browne and Tom Ford Fashion reported mixed results, with Thom Browne seeing a 21.7% YoY decline in 9M 2024 and Tom Ford Fashion showing a 54.4% YoY increase. The company noted challenges in the Greater China Region due to declining consumer confidence. Looking ahead, Zegna anticipates an uncertain environment but remains confident in its brand strength and management team.

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Ermenegildo Zegna Group reported H1 2024 revenues of €960.1 million, up 6% from H1 2023. Profit was €31.3 million (3.3% margin) compared to €52.1 million in H1 2023. Adjusted EBIT reached €80.9 million with an 8.4% margin, down from 13.3% in H1 2023. The company made significant investments across its three brands:

- ZEGNA: Continued focus on One Brand Strategy
- Thom Browne: Reinforced organization at HQ and key regions
- TOM FORD FASHION: Appointed Haider Ackermann as new Creative Director

Despite challenging market conditions, the company remains confident in its long-term strategy. Gross profit margin improved to 66.4%, up 220bps from H1 2023, driven by increased DTC sales and better inventory management.

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TOM FORD has appointed Haider Ackermann as Creative Director, effective immediately. Ackermann will lead creative efforts across all TOM FORD fashion categories, including menswear, womenswear, accessories, and eyewear. The brand is owned by The Estée Lauder Companies Inc. (NYSE:EL), with fashion licensed to Ermenegildo Zegna Group and eyewear to Marcolin SpA.

Ackermann, known for blending luxurious fabrics with impeccable tailoring, will debut his first collection at Paris Fashion Week in March 2025. He will be based in Paris, reporting to Guillaume Jesel, President and CEO of TOM FORD, and Lelio Gavazza, CEO of TOM FORD FASHION. Founder Tom Ford expressed excitement about Ackermann's appointment, praising his work and shared design sensibilities.

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Ermenegildo Zegna Group reported €960.1 million in revenues for H1 2024, up 6.3% year-over-year. Key highlights:

- ZEGNA brand revenues grew 4.6% YoY to €566.1 million
- Thom Browne revenues declined 19.4% YoY to €166.7 million
- TOM FORD FASHION revenues reached €148.5 million
- Direct-to-Consumer channel drove growth, up 14.8% YoY
- Strong performance in U.S. and EMEA markets
- Greater China Region faced challenges with single-digit negative organic growth

The company remains confident in its long-term strategy despite a challenging 2024 outlook. Cost control initiatives are being implemented across the group while continuing to invest in growth opportunities for its three core brands.

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Ermenegildo Zegna Group (NYSE: ZGN) announced the adoption of all resolutions presented at its annual general meeting on June 26, 2024. Key among these is the approval of a dividend distribution of EUR 0.12 per ordinary share, totaling approximately EUR 30 million. Dividends will be paid in USD, based on the June 26, 2024 exchange rate set by the European Central Bank. Important dates include the ex-date and dividend record date on July 5, 2024, and the payment date on July 30, 2024. Further details on the exchange rate and dividend taxation will be accessible from June 28, 2024, on the company's investor relations website.

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Ermenegildo Zegna Group (NYSE: ZGN) has released the convocation notice for its 2024 Annual General Meeting (AGM), scheduled for June 26, 2024, at the Steigenberger Airport Hotel in Amsterdam. The meeting materials, including the 2023 statutory audited financial statements, are accessible on the company's website. The Board of Directors recommends a dividend distribution of €0.12 per share, totaling approximately €30 million, subject to shareholder approval. If approved, the dividend will be paid in USD on July 30, 2024, with an ex-date of July 5, 2024. Additionally, Thom Browne has exercised his right to sell 2.05% of Thom Browne Inc. to Ermenegildo Zegna Group for around $25 million, increasing the Group's ownership to approximately 92%.

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Ermenegildo Zegna Group reported Q1 2024 revenues of €463 million, up 8% YoY, driven by the Zegna brand and the integration of Tom Ford Fashion. The Zegna segment performed well, led by the ZEGNA brand, with strong Direct-to-Consumer (DTC) channel growth. The Americas were the top-performing geographical area. Despite a decline in organic growth due to Thom Browne underperformance, the company remains optimistic about its long-term prospects.
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Ermenegildo Zegna N.V. (ZGN) reports a profit of €135.7 million for FY 2023, up 107.8% from FY 2022, with a profit margin of 7.1%. Adjusted EBIT rose to €220.2 million with an Adjusted EBIT Margin of 11.6%. The Group achieved its sustainability targets for FY 2023 and saw significant improvements in the Zegna and Thom Browne segments.
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Ermenegildo Zegna N.V. (NYSE:ZGN) reported a 27.6% increase in revenues for FY 2023, reaching €1.9 billion, with an organic growth rate of 19.3%. 4Q 2023 revenues reached €570 million, up 40.1% year-over-year, with an organic growth rate of 19.6%. The Zegna Group also announced various business expansions and partnerships, including a renewal of its eyewear licensing agreement with Marcolin and direct operations in South Korea.
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Ermenegildo Zegna N.V. (NYSE:ZGN) unveiled its updated medium-term financial objectives at the second Capital Markets Day at the New York Stock Exchange. The company aims for over 10% compounded annual growth in revenues and around 20% in Adjusted EBIT, with a strong Cash Surplus. The company sees positive momentum across brands and shares the business strategy for Tom Ford Fashion, expecting revenues to grow at a compounded average rate of over 10% in the medium term.
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FAQ

What is the current stock price of Ermenegildo Zegna N.V. (ZGN)?

The current stock price of Ermenegildo Zegna N.V. (ZGN) is $7.595 as of November 1, 2024.

What is the market cap of Ermenegildo Zegna N.V. (ZGN)?

The market cap of Ermenegildo Zegna N.V. (ZGN) is approximately 1.9B.

When was Ermenegildo Zegna founded?

Ermenegildo Zegna was founded in 1910 in Trivero, Italy.

What brands does Zegna Group operate under?

Zegna Group operates under the Zegna, Thom Browne, and Tom Ford Fashion brands.

What are the primary segments of Zegna Group?

The primary segments are the Zegna segment, Thom Browne segment, and Tom Ford Fashion segment.

How many stores does Zegna Group have worldwide?

Zegna Group operates over 500 stores in 80 countries, including 297 directly operated stores.

When was Zegna Group listed on the New York Stock Exchange?

Zegna Group was listed on the New York Stock Exchange on December 20, 2021.

What is the luxury textile laboratory platform?

It is Zegna Group's initiative to preserve Italian artisanal mills producing high-quality fabrics.

What products are included in the Zegna Branded Products?

Zegna Branded Products include luxury menswear and accessories.

Where are Zegna Group’s headquarters located?

Zegna Group's headquarters are located in Italy.

What recent achievements has Zegna Group accomplished?

Recent achievements include its continued expansion and strategic projects aimed at enhancing its luxury market presence.

What is the core business of Ermenegildo Zegna N.V.?

The core business is the design, creation, and distribution of luxury menswear, womenswear, and accessories.

Ermenegildo Zegna N.V.

NYSE:ZGN

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ZGN Stock Data

1.94B
250.31M
74.55%
20.1%
1.17%
Apparel Manufacturing
Consumer Cyclical
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United States of America
Trivero