Zegna Sees 1.5% Dip in 2025 Revenue Amid Executive Reshuffle, Down to €1.91 Billion

Zegna closes 2025 down. The Italian group specializing in men’s fashion ended the last fiscal year with a 1.5% drop in sales, weighed down by the poor performance in Asia. The company takes stock of its performance in the year in which it has reorganized its management team with the retirement of Ermenegildo (Gildo) Zegna.

As reported by the company, sales at the end of 2025 stood at €1.916 billion, compared to €1.946 billion in 2024. In the last quarter of the year, on the other hand, the group’s sales rose by 0.3% to €591.03 million.

“The last quarter of the year saw organic revenue growth of 10% in our strategic DTC channel at group level, with sequential improvement and positive contribution from each of our three brands,“ highlighted Gildo Zegna, the company’s chairman.

Zegna concluded by dodging the decline in sales in the fourth quarter, with a timid 0.3% growth

For 2025 as a whole, sales of the Zegna brand stood at €1.181 billion, a growth of 1.5%. Of the rest of the group’s portfolio, only Tom Ford closed the year up, albeit with a timid increase of 0.8%. Thom Browne, on the other hand, saw its sales shrink by 14.7% in 2025.

By channels, sales in own stores rose by 4.2% in 2025 as a whole, to €1.44 billion, while in the wholesale channel the company recorded a 20.9% drop in turnover, to €318.12 million.

The geographical evolution of the group’s sales was uneven, with a fall in Asia, stagnation in Europe and growth in the Americas. In Europe, the Middle East and Africa (Emea), the group’s largest region, the company’s sales rose by 0.5% to €683.85 million. In the Americas, with €566.07 million, the company grew by 7.9%, while in China the company experienced a decline of 14.6% to €435.17 million.

“I have decided to step forward to empower the next generation of leaders - Gildo Zegna has pointed out -; Gianluca Tagliabue has taken over as CEO of the group and I have passed the baton to the fourth generation, with Edoardo and Angelo Zegna at the helm of the Zegna brand.“