Zegna sees sales and profit rise by over 10%

Thanks to Asia safe from crisis

Zegna suffered very little from the economic
crisis in Italy: the company exports 90% of its production. The
strongest growth came in China, Russia, the Middle East and the United States. There are
however some downsides: since the last quarter of 2012 sales are slowing down in
China.

Remarkable is the interest for the company in
Africa: recently it opened a first shop in the Nigerian capital Lagos and
next year Mozambique and Angola will follow. CEO Gildo
Zegna, grandson of the founder, sees the black continent as an
important market for luxury clothing. Rich Africans still often buy their
expensive clothes while traveling.

China slows growth (a little bit)

For 2013 Zegna is predicting further growth,
although it will probably be more moderate because of lower growth in China and
the hesitations in the rest of the world. Accessories and sportswear are still
selling well however.

The Italian company has 543 locations
worldwide. This year another thirty will be opened, among other in Geneva,
London, Cancun and Hanoi.