Italy's Zegna sales up 50% in the first half, sales accelerate in China
Reuters
Published Oct 21, 2021 07:28AM ET
MILAN (Reuters) - Italian luxury group Ermenegildo Zegna reported on Thursday a 50% rise in first-half revenues, as sales climbed particularly in China.
The adjusted operating profit stood at 67 million euros ($78 million), compared to a loss of 52 million euros in the first half of 2020.
Zegna is expected to list in New York by the end of the year by combining with a U.S. investment vehicle, giving the menswear company an enterprise value of $3.2 billion.
The family-owned group said the third quarter showed a solid growth in revenues compared to a year earlier and its performance at the end of September was close to pre-pandemic levels.
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Written By: Reuters
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