Zegna sees sales and profit rise by over 10%

Zegna sees sales and profit rise by over 10%

Italian fashion producer Ermenegildo Zegna saw sales and profit enjoy a double digit growth in 2012: sales went up 12% to 1.26 billion euro (+11.9%), while profit grew even a little faster to 130 million euro. For 2013 Zegna is predicting a more moderate growth, due to the weakening of sales on the Chinese market.

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.

Questions or comments? Please feel free to contact the editors


Amazon launches its own meal box

20/07/2017

Amazon keeps up its innovation drive and has now turned its attention to the meal box industry. In several cities with a Amazon Fresh presence, customers can now order a meal box.

Decent profit growth for Unilever

20/07/2017

Over the first six months of 2017, Unilever’s profit and turnover grew substantially, mainly thanks to price increases and a positive evolution in the care and ice cream divisions.

Carrefour rolls out discount formula Supeco in Italy

19/07/2017

The Carrefour group just opened its first full-blown Supeco store in Italy. The soft discount formula targets both families and professional customers.

Amazon Fresh expands to Hamburg

19/07/2017

Amazon continues to expand its Amazon Fresh service across Germany after its launch several months ago. Following Berlin and Potsdam, it is now available in a large part of Hamburg.

Subway trials new formula

19/07/2017

Fast food chain Subway is trialing a new formula in several of its stores, with a visually altered design and several technological innovations.

Unilever will not get Reckitt Benckiser's food division

19/07/2017

American McCormick & Co has acquired Reckitt Benckiser’s food division for 4.2 billion dollars (3.6 billion euro), trumping Unilever to the purchase.

Back to top