Zegna Q3 Revenues Boosted By Americas and China Growth

Earnings

By Madeleine Schulz

October 22, 2026

Photo: Courtesy of Zegna

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Ermenegildo Zegna Group, owner of Zegna and Thom Browne and licensee of Tom Ford Fashion, said revenues increased 8.9% year-on-year in the third quarter of 2026 to €433.8 million.

Zegna brand revenues were up 13.8% to €283.8 million; Thom Browne revenues fell 5.9% to €45.4 million; and Tom Ford Fashion revenues were up 5.4% to €69.6 million.

Direct-to-consumer (DTC) revenues rose 13% to €335.3 million, driven by Zegna’s strong global growth (up 18.2% in the channel). Wholesale revenues, however, fell 5.2% to €63.4 million.

The Americas and Greater China were bright spots — though all regions posited growth — up 14% and 8.7%, respectively.

The breakdown

“This was another quarter of solid progress for our group. DTC continued to drive our growth, led by Zegna,” executive chair Ermenegildo “Gildo” Zegna said in a statement on Thursday.

“I am also pleased with our group’s performance across all regions. In particular, the Americas continued its double-digit trend, despite an increasingly demanding comparison base, and Greater China delivered steady growth in a quarter where the environment proved more challenging.

Zegna led the way in all regions.”

Revenues in the EMEA region (Europe, the Middle East, and Africa) were up 6.9% to €161.4 million, driven by double-digit growth at the Zegna brand and partially offset by wholesale dips at Thom Browne and Tom Ford Fashion. The Middle East began to improve this quarter, the company noted.

Americas revenues, meanwhile, were up 14% to €138.3 million for the quarter, once again boosted by Zegna growing double digits, despite a slight offset by the brand’s 9.8% wholesale decline. Tom Ford — a growing industry favorite on the fashion week calendar, under Haider Ackermann’s creative direction — also saw solid Q3 growth in the region.

Greater China revenues increased 8.7% to €84 million, driven by Zegna and offset, in part, by a decline at Thom Browne; the rest of Asia-Pacific was up 3.6% to €49.3 million, led by positive performances at both Tom Ford and Zegna.

The quarter’s performance reflects the strategy the group has been pursuing across all regions, group CEO Gianluca Tagliabue told investors on Thursday. “The momentum we first built in the Americas and in the Middle East is now increasingly extending to continental Europe and to Greater China, broadening the foundations of our group,” he said.

“This is evidence not only in the brand’s performance across regions and customer nationalities, but also across product categories and client segments.” Tagliabue credited Zegna brand’s growth to both loyal and new customers.

“Looking ahead, we remain cautiously confident knowing that the uncertainty in the global environment remains pretty high. Within this context, what matters most is the solidity of the vision and the ability to engage with consumers,” Tagliabue added. “The appetite for luxury is and remains strong. Ultimately, the opportunity is there — it is up to each brand to earn its share.”