Through 2022, excluding Greater China (GCR), which was impacted by COVID-related restrictions specifically from mid-March to the end of May, and Q4, revenue increased 42% YoY, +24.7 in FY22 was. In a press release, Ermenegildo Zegna announced its fourth quarter 2022 year-on-year percentage change.
Ermenegildo Zegna Group, Italy’s leading luxury fashion house, reports revenue of €1,493 million in fiscal year 2022 (22nd fiscal year), an increase of 15.5% year-on-year (YoY). The company’s revenue in the fourth quarter (fourth quarter) of this year he amounted to 407 million euros, down 0.5% compared to the same period last year.
Despite a particularly strong Q4 2021 comparative basis, revenue growth was particularly strong in the US, reaching 26.1% YOY in Q4 2022 and 53.5% YOY in 2022 . This was despite the termination of his distribution license with Tom Ford International, which resulted in his 8% decline in the company’s revenue growth in the fourth quarter of 2022 in the US.
Europe, Middle East and Africa (EMEA) revenue also continued to grow by double-digit percentage points compared to Q4 2021. in other European countries.
After a strong third quarter, the fourth quarter of 2022 saw a particularly impactful new wave of COVID-related restrictions implemented in October and November, plus several unplanned temporary Store reduced revenue from GCR by 30%. December closure due to a wave of contagion. This reduced Group revenue by 0.5% year-on-year in Q4 2022.
On January 23, 2023, Zegna signed an agreement to acquire a minority stake in Norda Run, a Canadian technical trail running shoe company. This includes an option to gradually increase your stake over the next nine years.
Revenues in the Zegna segment, which includes Zegna branded products and textile and third-party branded product lines, reached €334 million in the fourth quarter of 2022, down 2.2% year-on-year. Consumer (DTC) revenues and the termination of Tom Ford International’s distribution license agreement more than offset strong performance in other markets. In the 22nd financial year, the Zegna segment generated revenues of €1,177 million, an increase of 13.7% year-on-year.
The Thom Browne segment remains an important growth driver for the Group, with revenues of €76 million in Q4 2022, an increase of 11.5% year-on-year. Revenue for the Thom Browne division in FY22 was his €331 million, up 25.3% year-on-year.
In Q4 2022, Zegna branded product revenues were €274 million, down 2.7% year-on-year, but excluding GCR, benefiting from the rollout of the One Brand collection from July 2022 onwards. A double-digit increase year-on-year. Revenue in FY22 was €924 million. 9% YoY. Footwear performed well throughout the year, with solid growth in the luxury leisurewear segment. Both tailoring and bespoke saw a strong recovery in 2022, especially in the US and his EMEA.
Textile sales in the fourth quarter of 2022 reached €38 million, up 7.1% year-on-year. Revenue for the year increased by 33.8% to his €137 million, with all major subsidiaries posting double-digit growth.
Third-party brand sales reached €18 million in Q4 2022, down 18.8% year-on-year. This is due to the fact that Tom Ford International’s distribution license has expired, ending deliveries of the 2022 FW collection and being replaced by a supply contract. Excluding this impact, third-party brand revenue showed his strong double-digit growth in Q4 2022.
The Group expects modest improvement in adjusted EBIT and a strong improvement in earnings in 2022 compared to 2021, despite significant GCR headwinds. The Group also continues to expect cash surpluses to increase in the second half of the year, in line with guidance. Zegna’s medium-term targets remain unchanged, as Zegna remains focused on executing its strategy and in the medium-term he targets revenues of €2 billion and his EBIT margin adjusted to 15%, excluding Tom Ford’s fashion business. not.
Fiber2Fashion News Desk (DP)