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SEC filingErmenegildo Zegna Group reported Q1 2026 revenues of €470.2 million, up 2.5% YoY and 7.4% organically, driven by strong DTC channel growth and ZEGNA brand performance.
Ermenegildo Zegna Group's Q1 2026 results demonstrate execution of its retail-first strategy, with DTC revenues surging 14.2% organically to €371.9 million, comprising 85% of branded products, up from 81% last year. This shift intentionally pressured wholesale revenues down 17.0% organically to €64.3 million, as the company prioritizes direct control, exclusivity, and brand icons. The ZEGNA brand led with 11.3% organic growth to €310.3 million, fueled by double-digit DTC gains in Americas and EMEA, plus positive Greater China momentum. Americas delivered standout 17.5% organic growth to €137.0 million across all brands, while Greater China turned positive at 5.3% organic. Thom Browne's DTC channel grew 20.2% organically, boosted by its Asics collaboration, offsetting wholesale declines from channel streamlining. TOM FORD FASHION showed steady 9.2% DTC organic growth, supported by its Paris fashion show. Executive Chairman Gildo Zegna highlighted 7% Group organic growth as validation of long-term strategy amid accelerating momentum, with a 'think slow, act fast' approach to adapt to challenges while pursuing clear objectives. Store network expanded to 472 DOS, reflecting network optimization with net changes across brands.