This result was driven by sales growth of 12.4% in the Zegna segment and 14.9% in the Thom Browne segment. 2023 revenues also included €235.5 million from the Tom Ford Fashion segment following its acquisition in April 2023.

Gross profit for the year was €1.22 billion, up 31.9% year-on-year, while the gross profit margin grew from 62.2% to 64.3%.

As a result, the Zegna Group reported a profit of €135.7 million in the 2023 fiscal year, an increase of 107.8% year-on-year.

Ermenegildo “Gildo” Zegna, Group Chairman and CEO, said: “2023 has been a milestone year for our Group. We delivered outstanding results, including more than doubling our profit from 2022 to reach €136 million. We have also fulfilled our 2023 sustainability commitments including those focused on traceability, diversity and inclusion, and in renewable energy adoption. We are on track with the integration of the Tom Ford Fashion business, which is enriching our unique proposition in luxury glamour.”