Revenue for the fourth quarter alone was up by 40.1% year-on-year to €570 million. The Zegna brand segment saw growth of 12.4% in revenue for the full year to €1.32 billion, while fourth quarter revenue was up by 15.2% to €385 million.

The Thom Browne segment had full year growth of 14.9% to €380 and fourth quarter revenue growth of 30.2% to €99 million. Meanwhile, the Tom Ford Fashion segment totalled €236 million since it was consolidated on April 29 with €97 million in the fourth quarter alone.

Direct-to-consumer (DTC) revenue totalled €1.27 billion in 2023, an increase of 37.8% year-on-year, and made up 66.4% of total revenue. In the fourth quarter, this revenue was up by 46.3% year-on-year to €400 million. Wholesale revenue was up by 11.3% in the full year to €635 million and 27.6% in the fourth quarter to €169 million.

The strongest growth regionally came in North America, where revenue climbed by 42.6% in the full year to €417 million. The U.S. alone was up by 42.3% to €385 million. Meanwhile, EMEA revenues were up by 26.6% to €659 million, and APAC achieved growth of 22.2% to €788 million in 2023. Finally, Latin America increased by 25.6% over 2022 to €38 million.

Chairman and CEO Ermenegildo “Gildo” Zegna said: “I am very proud of the Group’s success over the past year, which is demonstrated by our strong and continued revenues growth. The significant increase in our revenues in 2023, and especially from our network of directly operated stores, is a clear indication that demand for our brands remains healthy, and that we are successfully executing our strategy to increase their desirability and solidify their position as leaders in the luxury market. The continuing improvement in the Zegna brand productivity, in particular, is a testament to the strength of our execution, supported by our successful merchandising and CRM.”