Stagnant sales for Zegna Group in 2013, impacted by slow down in China
Italian luxury menswear group of Ermenegildo Zegna confirms 2013 full year financials with sales of €1,270 billion (+0.7% at current exchange rates), net profits of € 116.3 million and an Ebitda of € 256.8 million (20.2% of sales). The company plans to invest 107 million monthly in capital expenditures. The net financial position at €304 million has grown (+10.4%) from to 2012, while net assets increased to €967 million.
China, despite is recent slow down, continues to be the largest market followed by Europe and the Americas. The results in Europe are positive, especially in Italy, France and Great Britain. The most significant increases in sales were recorded in Hong Kong, Macao, the Middle East and in the most popular parts of Europe and America thanks to the strong increase in tourism from China, Russia and Brazil.
The Zegna retail channel, which represents 78% of the total sales of the brand, confirmed its strategic importance. At the end of 2013 there were 546 mono-brand stores, of which 312 DOS. In 2014 several openings and expansions are planned, including Singapore, New York Madison Ave., Miami, Dusseldorf, Lisbon, in several Chinese cities. The opening of a new global store in Beijing and two global stores in Japan: Osaka e Tokyo Ginza is also planned.
Zegna Group will continue its focus on women’s wear house of Agnona, under the Creative Direction of Stefano and the management of newly appointed CEO Alessandra Carra (ex Emilio Pucci).