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Ermenegildo Zegna Group’s 2024 profits fell 31 percent to €91 million ($98 million), as a slowdown in China and a weaker wholesale performance, particularly at Thom Browne, weighed on results.
Adjusted EBIT, a measure of operating profit, in 2024 fell 16 percent year-on-year to €184 million.
“We cannot be fully satisfied with the numbers we present today,” chairman Gildo Zegna said in the earnings call on Thursday. “Overall we are positive, but progress will be gradual.”
Despite…
