ZEGNA net profit returns to pre-crisis levels
In a company statement, Italian luxury menswear group ERMENEGILDO ZEGNA has announced it registered a 21% increase in its turnover reaching 963 million euros. The gross operating margin jumped 60% to 140 million euros, with a net income of 180 million euros. 90% of revenues came from exports outside Italy, Asia accounting for a 46% share of that.
In 2011, ZEGNA plans to open 20 new stores in India, U.S., Europe, South Africa and Vietnam, bringing the total number of worldwide stores to 580, of which 306 directly operated and owned.