“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.”

Ermenegildo “Gildo” Zegna, Chairman and CEO of the Zegna Group, stated, “We started 2023 with an encouraging upswing led by further reopening in the Greater China Region following COVID-19-related restrictions.

“After my recent trip to Greater China, I am optimistic about China’s reopening as we are witnessing a rebound in our business and the industry at large.”