Ermenegildo Zegna (NYSE:ZGN) reported preliminary fiscal year 2025 revenues of €1.92 billion on Monday, as the Italian luxury group successfully leveraged its direct-to-consumer (DTC) strategy to offset a challenging wholesale environment and persistent volatility in China.
While reported revenue dipped 1.5% compared to 2024, the group achieved 1.1% organic growth for the full year, underpinned by a notable 4.6% organic surge in the fourth quarter.
The final quarter of 2025 signaled a significant turning point, with organic revenue in the strategic DTC channel jumping 10% across all three brands: ZEGNA, Thom Browne, and TOM FORD FASHION.
The flagship ZEGNA brand led the charge, delivering full-year revenues of €1.18 billion (+4.7% organic) and accelerating in Q4 with 7.4% organic growth.
This momentum was particularly robust in the Americas and EMEA regions, which helped counterbalance double-digit declines in the Greater China Region.
The results coincide with a landmark leadership transition for the family-led company.
Effective January 1, 2026, Gianluca Tagliabue assumed the role of Group CEO, while Ermenegildo "Gildo" Zegna transitioned to Executive Chairman.