Ermenegildo Zegna’s revenues for the fourth quarter of the year were down 0.5 per cent year on year.

Revenues at constant currency grew eleven per cent and declined 2.9 per cent in fiscal year 2022 and the fourth quarter of 2022 respectively. Excluding the Greater China Region, which was affected by Covid-related restrictions throughout 2022, particularly from mid-March to the end of May and then again in the fourth quarter, revenues were up 42 per cent year on year for fiscal year 2022 and up 24.7 per cent year over year for the fourth quarter of 2022.

Ermenegildo Zegna, based in Italy, owns the brands Zegna and Thom Browne. In spite of the continued global economic and geopolitical challenges of the year, the group is happy with its performance. Despite China continuing to be affected by Covid-related restrictions throughout 2022, the company’s growth for the year showed the soundness and success of its strategy, global reach, and flawless execution, with ongoing success in the Middle East, US, and Europe.

The company is optimistic about China’s reopening since a rebound in business and the industry at large is being seen. Ermenegildo Zegna will operate the Tom Ford fashion business under a long-term license from Estée Lauder.