Ermenegildo Zegna: Positive On The Medium Term Outlook [Seeking Alpha]
Ermenegildo Zegna N.V. (ZGN)
Company Research
Source: Seeking Alpha
The Zegna brand is reducing exposure to the aspirational segment, leading to better unit economics and customer lifetime value. The Thom Browne brand is undergoing strategic rationalization of the wholesale division, which may impact short-term growth but yield positive long-term results. Investment summary My recommendation for Ermenegildo Zegna ( NYSE: ZGN ) is a buy rating. I believe the medium-term guide for 10% sales CAGR and adj. EBIT 20% CAGR is plausible as the business shifts towards targeting loyal and high-spending customers and shifts away from its wholesale strategy. While the near-term (FY24) performance is going to be volatile due to these changes and a weak Chinese spending backdrop, these temporal headwinds should ease eventually. Business Overview ZGN is an apparel retail operator that manufactures and sells products such as blazers, suits, shoes, and other accessories for men. The key brands that ZGN owns and operates are Zegna and Thom Browne. ZGN derive
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ZGN
News
- Revenues at Zegna drop 5% in Q1, dragged by Thom Browne brand [Reuters]Reuters
- Ermenegildo Zegna Group Reported Q1 2024 Revenues of €463 Million1, up 8%2 YoY, Driven by Zegna Brand and the Integration of Tom Ford Fashion [Yahoo! Finance]Yahoo! Finance
- Ermenegildo Zegna Group Reported Q1 2024 Revenues of €463 Million¹, up 8%² YoY, Driven by Zegna Brand and the Integration of Tom Ford FashionBusiness Wire
- Armani 'Doesn't Rule Out' Merger or IPO In Succession Plan [Yahoo! Finance]Yahoo! Finance
- Armani 'Doesn't Rule Out' Merger or IPO In Succession Plan [BNN Bloomberg (Canada)]BNN Bloomberg
ZGN
Sec Filings
- 4/23/24 - Form 6-K
- 4/15/24 - Form 6-K
- 4/9/24 - Form 144
- ZGN's page on the SEC website