Ermenegildo Zegna Q4 Revenues €570.36M, Up From €406.97M YoY
Portfolio Pulse from Benzinga Newsdesk
Ermenegildo Zegna reported a significant increase in revenues for Q4 2023, reaching €570.36 million, up from €406.97 million in the previous year. The full-year revenues for 2023 were €1.9 billion, marking a 27.6% increase year-over-year, with organic growth of 19.3%. The fourth quarter saw an organic growth rate of 19.6%, showing an acceleration from the 11.3% growth in Q3 2023. The revenue boost was attributed to strong performance in the direct-to-consumer channels of both ZEGNA and Thom Browne brands.
January 31, 2024 | 11:54 am
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Ermenegildo Zegna (ZGN) reported a strong Q4 with revenues up 40.1% YOY to €570.36M and FY 2023 revenues up 27.6% to €1.9B, driven by robust direct-to-consumer sales.
The reported revenue growth for Zegna is substantial and is likely to be viewed positively by investors. The acceleration in organic growth and strong performance in direct-to-consumer channels suggest a robust demand for Zegna's products, which could lead to a positive short-term impact on the stock price.
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