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European fashion giants post diverse regional performance in Q1 FY24

Ermenegildo Zegna Group

Italy’s Ermenegildo Zegna Group reported strong revenue growth, particularly in the Americas, where revenues soared to €***.* million (approximately $***.* million), marking a **.* per cent year-over-year increase and a **.* per cent rise on an organic basis, representing ** per cent of the group’s total revenues. In contrast, the EMEA region saw more modest growth, with revenues of €***.* million, up *.* per cent year-over-year but down *.* per cent organically, affected by the underperformance of Thom Browne. Italy, accounting for ** per cent of EMEA revenues, particularly underperformed. The Greater China Region faced challenges, with revenues falling **.* per cent year-over-year to €***.* million. However, the rest of the APAC region experienced robust growth, with revenues increasing by **.* per cent to €**.* million, driven by strong performances in Japan and changes in the Korean market operations.