Revenue in Greater China increased by 0.7% year-on-year to €124.1 million, with organic growth of 5.3%.

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Greater China recorded €509.4 million in full-year sales revenue, representing a 14.5% year-on-year decline (organic decline of 13.7%). The region accounted for 26% of the group’s total revenue, making it the third-largest market for the group.

In the first nine months of 2024, Zegna Group’s total revenue amounted to €1.3574 billion, marking a year-on-year increase of 1.7%, though with a 4.0% decline on an organic basis.

Gildo Zegna stated, “Our uber-luxury and bespoke services are growing.”

Due to persistently low consumer confidence, revenue in Greater China was €266.3 million (accounting for 28% of the group’s total revenue), a 13.2% year-on-year decline, and an 11.7% decline on an organic basis.

In the fourth quarter, the Greater China region achieved revenue of 176 million euros, representing a year-on-year growth of 35.0%.

“We are not seeing the same incidence of Chinese out of Greater China as other brands. Most of our Chinese spending occurs structurally occurs within the domestic market.”