On the fringes of a press conference for the autumn/winter 2021 collection, the CEO of Ermenegildo Zegna recently expressed his feelings about the future of the Italian brand this year. This remains realistic and puts aside the possibility of the brand achieving a full recovery in 2021, despite a forecast of a strong recovery in the second half of the year.
Even if for most luxury brands and groups the results at the end of 2020 have raised hopes for the new year, it should not be forgotten that the pandemic is not over. Indeed, despite the numerous vaccination campaigns, the virus continues to contaminate the population and its mutations and variants are causing a certain amount of anxiety.
CEO Gildo Zegna doubts that a complete remission will be achieved this year after the severe consequences of the virus. Indeed, the group reported a drop in sales of just over 20%.
However, he remains quite positive and believes that the brand has nevertheless achieved the target set for the year 2020, which is so specia l: “We have managed to stay above €1 billion in revenue, which was my target, to preserve liquidity and to keep a base profit thanks to cost reduction”.
This positivity is also due to the fact that the CEO considers that the brand is more prepared for the health situation than in the previous year and that it can only get better.
“I think 2021 will be between 2019 and 2020. It will certainly not be worse than last year. I don’t dare to make more ambitious estimates, the first half of the year doesn’t seem easy,” CEO Gildo Zegna told journalists.
“But we are certainly more prepared than last year to deal with the situation,” he added.
To face the pandemic more gloriously, the Italian luxury clothing group is relying heavily on the Chinese market and digital sales, like all its competitors elsewhere. According to Zegna, China has been “the lungs” of the group thanks to the strong demand since this summer, as well as for digital sales, which exploded during the pandemic.
In addition, the Italian brand opened Milan’s Digital Fashion Week with a film where indoor and outdoor wardrobes come together. Alessandro Sartori, the artistic director of Zegna, had never envisaged a physical fashion show for his autumn-winter collection. Favouring safety, he felt that the video could also reach the general public.
This autumn-winter collection therefore pays homage to the situation that people all over the world are experiencing by offering clothes that are more suited to life at home, i.e. casual, fluid and unstructured. Goodbye to formal and uncomfortable clothes.
“I think that in the future we will dress more and more ‘Silicon Valley style’, inside and out, he as well as she,” said the CEO, pointing to a new strategy to move from formal to more informal clothing.
Zegna’s new wardrobe unveils indoor and outdoor clothing blending together in the intimacy of a people’s home.
“This meeting makes it possible to create a new aesthetic, explained the artistic director. What you wear at home and what you wear to the office, when you spend your days on Zoom, become one. We thought of a wardrobe that would meet these needs. The same garment can be worn in many different ways.”
Read also > LVMH : THE SECRETS OF THIS REFUGE VALUE
Featured Photo : © Press
What's Your Reaction?
[EN] CLAIRE DOMERGUE, A SPECIALIST IN COMMUNICATION IN THE LUXURY SECTOR, HAS SURROUNDED HERSELF WITH EXPERTS TO CREATE THE FIRST MEDIA DEDICATED TO THE ECONOMIC NEWS OF LUXURY AND FASHION. THE LATTER DRAWS THE ATTENTION OF ITS READERS TO ALL THE MAJOR PLAYERS IN THESE SECTORS WHO SHARE THEIR EXPERIENCES, VISIONS AND KNOW-HOW. MORE THAN A SPECIALIZED WEBZINE, LUXUS PLUS IS A MULTI-SECTOR INFORMATION SYSTEM, WHICH HAS BECOME THE REFERENCE MONITORING TOOL FOR LUXURY AND FASHION PROFESSIONALS. OUR NEWSLETTERS CONTRIBUTE TO MAKE OUR READERS AWARE OF THE CHANGES AFFECTING THE LUXURY INDUSTRIES. THANKS TO AN INCREASED WATCH AND AN EXCELLENT KNOWLEDGE OF THE SECTOR, WE ARE INTERESTED IN THE MAIN ECONOMIC AND TECHNOLOGICAL STAKES OF FASHION, FINE WATCHMAKING, JEWELRY, GASTRONOMY, COSMETICS, PERFUMES, HOTELS, PRESTIGIOUS REAL ESTATE...********[FR] Claire Domergue, spécialiste de la communication dans le secteur du luxe, s’est entourée d’experts pour créer le premier média consacré à l’actualité économique du Luxe et de la mode. Ce dernier attire tout particulièrement l’attention de ses lecteurs sur l’ensemble des acteurs majeurs de ces secteurs qui y partagent leurs expériences, visions et savoir-faire. Plus qu’un webzine spécialisé, Luxus Plus est un système d’information multi-sectoriel, devenu l’outil de veille de référence pour les professionnels du luxe et de la mode. Nos newsletters de veille contribuent en effet à sensibiliser nos lecteurs aux mutations qui touchent les industries du luxe. Grâce à une veille accrue et à une excellente connaissance du secteur, nous nous intéressons aux principaux enjeux économiques et technologiques de la mode, la haute horlogerie, la joaillerie, la gastronomie, des cosmétiques, parfums, de l’hôtellerie, l’immobilier de prestige…