ZEGNA concentrates on its owned retail chain of stores and eyes Africa for expansion
In a recent interview to the Financial Times, Gildo Zegna, CEO of ERMENEGILDO ZEGNA Group has confirmed over 70% of sales comes from its owned retail network and only 30% account for wholesale. He also indicated that mens fashion is much more resilient than womens fashion during these crisis times and men tend to be more loyal customers. Mr Zegna spoke about his companys growing business in China where 10 more stores will open by 2010. In his comments, he mentioned the African countries of Nigeria and Angola as the next luxury emerging markets with many of those nationals shopping as tourists in Europe. This comes as a surprise since all major international luxury fashion brands target expansion in India and South America.