MILAN (Reuters) – Organic revenues at Ermenegildo Zegna dropped 6.7% in the third quarter, hit by a 22% decrease in its Greater China region, the Italian luxury group said on Tuesday.
Revenue totalled 397 million euros ($429.8 million) for the June-September quarter.
“Although third quarter revenues showed a slowdown for the group, I am reassured by the continued positive performance of the ZEGNA brand,” Chairman and CEO Ermenegildo Zegna said in a statement.
“Looking ahead to the fourth quarter of 2024 and into 2025, we continue to foresee an uncertain environment, particularly in the Greater China Region,” he added.
($1 = 0.9240 euros)
(Reporting by Elisa Anzolin; Editing by Keith Weir)
