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Italy’s Zegna sales up 50% in the first half, sales accelerate in China -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A man is seen sitting in a wheelchair on the street outside Zegna’s closed store at 5th Avenue during the COVID-19 outbreak in Manhattan. This was May 11, 2020. REUTERS/Mike Segar

MILAN, (Reuters) – The Italian luxury brand Ermenegildo Zegna revealed Thursday a 50 percent increase in revenues for the first half of 2014. This was due to a rise in sales in China.

The company’s adjusted operating profit was 67 million euro ($78 million), up from 52 million euros loss in the first six months of 2020.

Zegna will list in New York before the end of this year after combining with an American investment vehicle. This would give the men’swear business a $3.2 billion enterprise value.

According to the family-owned company, the third quarter saw a strong growth in revenue compared with a year ago and that its September performance was similar to pre-pandemic.

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