The Q1 FY22 revenues of the Italian luxury group ErmenegildoZegna grew by 25.4 percent to €377.6 million.

Over the course of 2021, the ZegnaGroup achieved a number of milestones, says GildoZegna, Chairman and CEO. In December, the group listed on the New York Stock Exchange after a business combination with Investindustrial Acquisition Corp. and a rebranding of Zegna, which reworked the logo, dropping the first name of the founder, revisiting its store concept and communications.

Assuming no further deterioration or geographic extension of the war in Ukraine, a normalization of the COVID-19 pandemic in Greater China before the summer, and no other unforeseen events, the group confirmed its outlook for the year, expecting a growth in revenues in the low-teens and continued improvement to adjusted earnings before interest and taxes. This can be achieved building on the accelerated expansion achieved in 2021, when the group delivered an adjusted EBIT of 11.5 percent on revenues, exceeding its own guidance of around 10 percent.

In the first quarter, the revenues of the Zegnasegment grew b 27.1 percent Y-o-Y to €283.5 million with “robust performance” in all product lines.

The Thom Browne segment rose 22.3 percent Y-o-Y, with revenues totaling €98.1 million with consistent performance in both direct-to-consumer and wholesale channels.

Revenues of Zegna-branded products, which include apparel, bags, shoes and leather goods, as well as licensed goods and royalties, surged by 22.1 percent Y-o-Y to €224 million. The group attributed this gain in large part to the growth in luxury leisurewear and shoes, and a strong rebound of made-to-measure.

Revenues of the group’s textile business rose by 64.6 percent to€ 30.2 million.

Zegna also saw a 56.8 percent increase in revenues for the third-party brands, which reached 24.4 million euros, reflecting its strong supplies capability.