Home / Knowledge / News / Apparel/Garments / Italian fashion house Zegna posts historic results
Italian fashion house Zegna posts historic results
21
May '12
The board of directors of Ermenegildo Zegna Group, world leading brand of luxury menswear, has approved its consolidated financial statements for 2011, which close with sales of €1.127 billion (+ 17% at current exchange rates), Ebitda of €233 million (20.7% of sales against 14.6% in 2010), net profits of €115 million and a positive net financial position of €245 million.

China continues to be the main market in terms of the Group's retail sales (+ 28%) but the US market also continued to grow (+ 16%). Europe saw positive results on the whole, with sales in Germany, France and Italy up.

Exports again accounted for over 90% of sales, with Asia generating half of this.

At the end of 2011 there were 557 mono brand stores of which 311 fully owned. Around 50 new openings are scheduled for 2012, of which a third in China, though also in Europe and America. There is a new focus on Africa, where stores will be opened for the first time in Morocco and Nigeria, reflecting Zegna Group's pioneering spirit.

The board of directors voted a proposal by the Honorary Chairman, Angelo Zegna, to pay a €1,000 bonus to each of the over 7,000 Zegna Group employees. The proposal was based on the achievement of sales of €1 billion in 2011 and is intended to round off the Centennial initiatives.

It was announced during the meeting that Ms Jing Ulrich, J.P. Morgan's Chairman of Global Markets, China, has joined the Zegna board as an independent director. Educated at Harvard and Stanford Universities, Ms Jing Ulrich is one of the most prominent advisors to the world's largest asset management companies and multinational corporations. Fortune and Forbes magazines have ranked Ms Ulrich among the most powerful global businesswomen. With in-depth knowledge of the consumer market in Asia, Ms Ulrich will contribute significantly to Zegna's expansion in the region.

“The objective I set myself, before the crisis that started in 2008, of topping sales of €1 billion by the time of our Centennial,” said CEO Ermenegildo Zegna, “was achieved thanks the position of strength we have gained in the meantime, despite the alarming volatility that still to a certain extent characterizes the global economy. Our income, financial and equity results are enabling us to take on new challenges (like those already undertaken in Vietnam, Africa, India and Greater China) guided by the pioneering vision that has defined our history, but also to develop new forms of cooperation to exploit the most attractive opportunities the market can offer.

We are confident we will continue to grow this year too: Retail figures for 1st quarter 2012 show an average growth of 11% at constant rates, enabling us to consolidate our role in the global men's luxury retail market. I feel sure that Jing Ulrich's joining of the board will be a strong support to us in the entire Asian market, which looks increasingly likely to be the powerhouse of the world economy in coming years”.


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search