Ermenegildo Zegna N.V. announced unaudited revenues of €458.8 million for the first quarter of 2025, representing a 0.9% year-over-year decrease and a 1.2% organic decline from Q1 2024. Despite the overall decline, all three brands reported positive performance in the strategic Direct-to-Consumer (DTC) channel.
The ZEGNA brand's revenues increased 3.6% year-over-year and 3.1% organically, primarily driven by solid DTC growth in the Americas and EMEA. Thom Browne's revenues decreased 18.6% year-over-year and 18.8% organically, largely due to the ongoing streamlining of its wholesale channel, though partially offset by positive DTC performance.
Tom Ford Fashion posted a 3.8% year-over-year and 3.5% organic revenue increase, boosted by 10.0% year-over-year DTC growth. This momentum was supported by the positive reception of Haider Ackermann's first fashion show in March, which drove increased traffic and demand, particularly for the womenswear collection.
Group DTC revenues grew 5.2% year-over-year and 4.6% organically, now representing 81% of branded product revenues. The Greater China Region (GCR) continued to reflect a subdued consumer environment, with revenues declining 11.6% year-over-year and 12.4% organically in Q1 2025.
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