Zegna reports €48 million profit in H1, up 53%

Zegna Group closed the first half of the year with revenues of €928 million, reflecting a 2% decline at constant exchange rates (organic). The Direct-to-Consumer (DTC) channel performed strongly, growing organically by 6%. Net profit reached €48 million, up 53% compared to the first half of 2024. Gross profit totaled €626 million, with a gross profit margin of 67.5%. Adjusted operating profit (EBIT) stood at €69 million, with a margin of 7.4%.

The performance of the Zegna segment was particularly strong, with operating profit improving by 150 basis points to 14.3%. As of June 30, 2025, the net financial debt stood at €92.1 million, in line with the figure reported as of December 31, 2024.

“The results for the first half of 2025 attest to the strength of our strategic vision to strengthen the DTC channel and elevate the operational efficiency of the stores for our three brands, as we continue to invest with determination in strategic projects that fuel our long-term growth ambitions,” said Ermenegildo “Gildo” Zegna, chairman and CEO of the Ermenegildo Zegna Group.

“In this context, we are particularly proud of the performance of the Zegna segment, where favorable operating leverage and rigorous implementation of key projects generated a 150 basis point improvement in operating margin. This strength helped mitigate the negative impact on operating profit from the ongoing strategic transformation at Thom Browne and Tom Ford Fashion,” Zegna added.

“Thanks to the strength of our supply chain, the authenticity of our brands, and—above all—the clarity of our vision and the talent of our team, we remain firmly focused on achieving the goals set for 2027, despite industry challenges and currency pressures,” Zegna concluded.