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Ermenegildo Zegna Group has reported revenues of €470.2m (£405.5m) for the first quarter of 2026, representing a 2.5% increase year-on-year.
The figures, released on 30 April 2026, recorded organic growth of 7.4% as the group accelerated its shift toward direct retail.
The growth was led by the direct-to-consumer (DTC) channel, which rose 7.8% to €371.9m (£320.8m). This now accounts for 85% of the group’s branded product sales.
Meanwhile, wholesale revenues fell 19.1% to €64.3m (£55.48m), following a strategic decision to reduce third-party distribution.
The Zegna brand recorded the strongest performance with revenues of €310.3m (£267.7m), up 5.9% on the previous year.
Tom Ford Fashion saw a marginal increase of 0.4% to €67.7m (£58.4m), while Thom Browne revenues declined 9.4% to €58.2m (£50.21m) due to wholesale contraction.
Geographically, the Americas remained the group’s strongest market with 9.6% revenue growth to €137.0m (£118.2m).
The Greater China Region returned to positive growth with a 0.7% increase to €124.1m (£107m) , while the EMEA region saw a slight decline of 0.8% to €152.9m (£131.9m).
Zegna stated that the company remains focused on long-term objectives despite challenging global conditions.
The group operated 472 directly operated stores at the end of March, including a net increase in locations for Thom Browne and Tom Ford Fashion.
Ermenegildo Zegna, executive chairman, said: “The Group’s 7% organic growth is a direct result of our long-term strategy, thoughtfully crafted and now being executed with discipline and pace.
“Our retail-first organization continues to progress, as reflected in 14% organic growth in the Direct-to-Consumer channel, with all brands and markets contributing. The Americas stood out once again, delivering another quarter of double-digit organic growth and continued acceleration.”
Zegna added: “Looking ahead, our ‘think slow, act fast’ mindset will continue to guide the Group in taking thoughtful decisions and implementing them quickly and decisively. In this world, we must adapt rapidly to more challenging conditions.”
