Zegna posts 64 percent jump in 2017 net income

For the financial year 2017, Italian luxury menswear group Ermenegildo Zegna reported 2.3 percent revenue growth current exchange and 4.5 percent at constant exchange to 1.183 billion euros (1,463.6 billion dollars), reports Fashion Network. EBITDA for the year rose 12 percent to 142 million euros (175.6 million dollars), while net income jumped by 64 percent to 32.8 million euros (40.5 million dollars). The report added that the group’s net financial position improved from 233 million euros (288 million dollars) to 316 million euros (390.8 million dollars).

The totals sales in 2017, report added quoting the company statement, were once driven by exports, which accounted for 92 percent of the group’s consolidated revenue. While China and Russia proved to be Zegna’s leading markets, Hong Kong, Macao, Singapore and Japan also performed well in the second half of the year.

Along with positive exports, all of the group’s business segments including the made-to-measure service, the new bespoke atelier in Milan and the couture line, reported a double-digit growth in sales, while footwear and fabrics witnessed buoyant performance.

Zegna plans to open new stores at Capri, Singapore, Beijing, Tokyo, Toronto and Mexico City and will refurbish its existing stores in Hong Kong, Beijing and the Vancouver. At December 31, 2017, Ermenegildo Zegna operated 504 monobrand stores, including 272 directly owned and 232 franchised stores.

Picture:Ermenegildo Zegna website


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