Italian fashion group Ermenegildo Zegna raised its full-year guidance on Friday after reporting a 21 percent increase in half-year revenue.
The company, which is listed in New York, said it now expects revenue growth in the mid-teens in percentage terms versus previous guidance for low-teens percentage growth.
It also forecast a “solid improvement” in adjusted earnings before interests and taxes (EBIT) having previously spoken only of an improvement.
“While our current performance is strong, including a healthy rebound in the Greater China Region, the global geopolitical and economic outlook remains uncertain,” Chairman and CEO Ermenegildo Zegna said in a statement.
“I am confident that we will remain on track, as we execute our strategy to achieve our new 2022 guidance,” he added.
The family-controlled group, which controls Italy’s luxury menswear brand Zegna and US label Thom Browne, said revenue rose 21 percent to 729 million euros ($729 million) in the first six months of 2022 while adjusted EBIT rose 24 percent to 82.7 million euros.
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Zegna Signs Partnership With Spanish Football Club Real Madrid
The Italian luxury menswear brand announced the tie-up, set to launch during the current 2022-2023 season, in a press release Wednesday.
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