Zegna reports success in 2021 and vows to drop fur

Italy
Published:  03 February, 2022
Credit: Zegna

The Zegna Group has posted its full 2021 financial results, showing preliminary revenues increasing by 27% over 2020 (Covid impacted) to €1.3 billion (US$1.5 billion).

The results were led by the Thom Browne brand, which saw growth of 47% year-on-year with revenues totalling €263 million (US$297 million). This was reportedly due to growth in every channel, region and product line in both men’s and women’s categories.

Zegna branded products, which include apparel, bags, shoes and leather goods as well as licensed goods and royalties, saw revenues increase 33% to €847 million (US$955 million), thanks primarily to growth in luxury leisurewear and shoes.

The Group’s textile revenues also saw a double-digit percentage increase to €102 million (US$115 million), while a 9% decline in its Strategic Alliances business reflected a post-Covid adjustment phase, the company said.

Notably, Zegna has furthered its plans to align high quality products with the environment and animal welfare and so has decided to remove fur after this year. Ermenegildo Zegna, Chairman and CEO of the Zegna Group, said: “Part of Zegna’s ethos since our founding in 1910 has been a belief that creating the highest quality products goes hand in hand with caring for the natural world around us.

“Drawing upon these values, the Zegna Group has made the decision that 2022 collections will be the last using fur for both Zegna and Thom Browne.”