Zegna expects improved performance in 2016
After a challenging 2015, Zegna Group CEO Gildo Zegna told Bloomberg that he expects a rebound of his company’s performance in 2016.
The devaluation of the Yuan has affected Zegna too, however Mr Zegna believes it is a temporary situation which will likely change next year. Gildo Zegna also said: ”We made a mistake being too bullish about 2015”
Zegna’s CEO also confirmed his company is also likely to cut prices in China in order to counter the imbalances. As for retail expansion, the company will not open new stores in mainland China, the only confirmed openings being in Macau – 2 new stores by the end of 2015.