Ermenegildo Zegna Group Announces €928 Million in Revenues for First Half of 2025, with Profits of €48 Million and Adjusted EBIT of €69 Million | Intellectia.AI
Ermenegildo Zegna Group Announces €928 Million in Revenues for First Half of 2025, with Profits of €48 Million and Adjusted EBIT of €69 Million
Written by Emily J. Thompson, Senior Investment Analyst
Financial Performance Overview: Ermenegildo Zegna Group reported revenues of €927.7 million for H1 2025, a decrease of 3% YoY, while profit increased by 53% to €47.9 million, reflecting a profit margin rise from 3.3% to 5.2%.
Segment Performance: The Zegna segment showed resilience with a slight revenue increase, while Thom Browne faced a significant revenue decline of 22.5%. The Tom Ford Fashion segment also reported a modest revenue increase but continued to operate at a loss.
Direct-to-Consumer Growth: The direct-to-consumer (DTC) channel outperformed with a 4% revenue growth, indicating a strategic focus on expanding DTC capabilities across the brands.
Investment and Future Outlook: The Group is investing in its DTC store network and capabilities, aiming to achieve long-term growth targets despite facing sector challenges and currency fluctuations.
ZGN
$10.26+Infinity%1D
Analyst Views on ZGN
Wall Street analysts forecast ZGN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ZGN is 11.10 USD with a low forecast of 10.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
Wall Street analysts forecast ZGN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ZGN is 11.10 USD with a low forecast of 10.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 10.320
Low
10.00
Averages
11.10
High
12.00
Current: 10.320
Low
10.00
Averages
11.10
High
12.00
UBS
Neutral
maintain
$10
2025-11-27
Reason
UBS
Price Target
$10
2025-11-27
maintain
Neutral
Reason
UBS raised the firm's price target on Ermenegildo Zegna to $10.50 from $10 and keeps a Neutral rating on the shares. The company in 2026 will continue "to write its story of three luxury apparel houses," but it faces continued uncertainty to its 2027 targets given currency headwinds, the analyst tells investors in a research note.
Bernstein
Outperform
initiated
$13
2025-11-25
Reason
Bernstein
Price Target
$13
2025-11-25
initiated
Outperform
Reason
Bernstein initiated coverage of Ermenegildo Zegna with an Outperform rating and $13 price target. The firm says Zegna has positioned itself as the "go-to" luxury leisurewear brand for men with prices in the "sweetspot" between Brunello Cucinelli and Loro Piana. The company's brand recognition in China will enable it be one of the main beneficiaries when demand returns, the analyst tells investors in a research note.
BofA
Daria Nasledysheva
Buy
maintain
$10
2025-10-24
Reason
BofA
Daria Nasledysheva
Price Target
$10
2025-10-24
maintain
Buy
Reason
BofA analyst Daria Nasledysheva raised the firm's price target on Ermenegildo Zegna to $11.50 from $10 and keeps a Buy rating on the shares after the company reported Q3 organic revenue growth of 3.6%, 2 points above consensus. The firm sees luxury demand sequentially improving from the Q2 trough, the analyst tells investors.
UBS
Chris Huang
Neutral
maintain
$10
2025-10-24
Reason
UBS
Chris Huang
Price Target
$10
2025-10-24
maintain
Neutral
Reason
UBS analyst Chris Huang raised the firm's price target on Ermenegildo Zegna to $10 from $9.50 and keeps a Neutral rating on the shares post the earnings report. The company's "steady momentum is carrying into Q4 but compares get tougher, the analyst tells investors in a research note.
About ZGN
Ermenegildo Zegna NV is an Italy-based manufacturer of high-end menswear and accessories. The Company focuses on producing different kinds of apparel, including outerwear such as jackets, suits, blazers, shirts, pants and jeans, as well as shoes, sportswear and accessories. The Company is active worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
