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.
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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