Analysts stated that the revised outlook still appears conservative, expressing optimism about future growth opportunities.

In the first nine months, the company’s gross profit margin reached 55.4%, and its operating profit margin was 17.4%, both setting record highs for the second consecutive year.

At constant exchange rates, sales in the Asia-Pacific region contracted by 18%. Although certain markets, including South Korea and Malaysia, experienced growth, combined sales in the Chinese Mainland, Hong Kong, and Macau declined by 27%.

In the third quarter, Ferrari’s global total shipments reached 3,383 units, a decrease of 2.2% compared to the previous year.

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.

Sales in Greater China grew by 5.7% year-on-year, with additional year-on-year growth achieved during the Golden Week holiday.

Pop Mart’s Q3 revenue in Hong Kong, Macau, Taiwan, and overseas markets surged 440%-445% year-on-year.

The Chinese market accounts for more than half of the company’s total sales.

Gucci’s leather goods category is undergoing a comprehensive overhaul, while Bottega Veneta’s outstanding performance continues to be driven by the significant success of its leather goods collections.

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