Ermenegildo Zegna Group revenue rises 9% to €987.3 million in first half despite profit decline
Second-quarter sales grew even faster than the half-year average, up 10.3% year-over-year.
Ermenegildo Zegna Group has reported first-half 2026 revenue of €987.3 million, up 9% from €927.7 million a year earlier. Net profit declined over the same period, even as sales kept climbing.
The growth accelerated as the half progressed. Second-quarter revenue reached €517.1 million, up 10.3% year-over-year, outpacing the group's overall first-half rate. That pace suggests demand held up through April, May and June, the three months that make up the group's second quarter.
The combination of rising sales and falling profit puts Zegna alongside a run of luxury groups this year reporting top-line strength that has not translated evenly to the bottom line. For a group built around its namesake menswear house alongside Thom Browne and Tom Ford Fashion, the figures suggest demand for its core categories remains intact even as costs or investment pressures weigh on margins. The group has not disclosed a breakdown of the profit decline by brand or by region in the figures released so far, leaving the specific drivers of the margin pressure unclear for now.
What to watch next is whether Zegna details the source of the profit decline in fuller half-year disclosures, including any breakdown by brand or region. Investors and industry watchers will also be looking for whether the second-quarter pace of 10.3% carries into the second half, and whether margin pressure eases as the year closes. The half-year figures give a first read on how the group's three main brands are performing together, ahead of any further detail the company chooses to publish.
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