ZEGNA warns of possible slow down in luxury sales in 2012

Despite having forecasted a 10% increase for this year, Ermenegildo Zegna, CEO of the eponymous fashion house remains cautious and warns of a possible slowdown in luxury sales in 2012. ”I am worried about 2012, he told Bloomberg, adding ”I see shadows in Europe, I see a question mark in the US and a relative slow down in China”. The company continues its expansion this year, with the opening of its global store concept in Paris next week. In 2010, ZEGNA‘s turnover exceeded 1 billion euros, with earnings of 140 million euros.