Ermenegildo Zegna Group announced on 23 October 2025 that its unaudited revenue for the first nine months of 2025 reached €1,325.9 million, a 0.2 % year‑over‑year increase and a 3.6 % organic rise. Q3 2025 revenue was €398.2 million, up 0.2 % YoY and 3.6 % organic, driven by a 9.1 % organic jump in Direct‑to‑Consumer (DTC) sales across all three brands.
The DTC channel accounted for €994.7 million of group revenue, up 4.3 % YoY and 7.0 % organic, with ZEGNA DTC sales growing 6.2 % organic and TOM FORD FASHION DTC sales rising 12.1 % organic. Wholesale branded revenue fell 15.5 % YoY to €67.0 million, reflecting the company’s ongoing shift away from wholesale and toward higher‑margin DTC operations.
For investors, the results underscore the success of Zegna’s DTC‑centric strategy, which has increased the share of branded revenue generated at full price and improved gross margins. The company’s CEO noted that, despite a challenging environment, the accelerated DTC performance and strong reception of new collections position Zegna to meet its mid‑term targets for revenue growth and profitability.
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