Ermenegildo Zegna was one of the first luxury brands to set up shop in China, 21 years back, a decision that yielded rich dividends. Now with the new Lagos (Nigeria) store launch on 17th April 2013, Zegna is all set to expand into the African markets.
Even the Group’s consolidated financial statements for 2012, which shows sales of €1.261 billion (+12% at current exchange rates), Ebitda of €250.2m (19.8% of sales), net profits of €130m (+13%) and a positive net financial position, stressed on continuing to invest and expand its retail network in new African (Nigeria) and Asian (Vietnam) markets.
Ermenegildo Zegna opened its new flagship store in Victoria Island, Lagos, a central meeting point between the most important commercial and financial areas of the city. Zegna is once again a pioneer, as the Lagos flagship store represents the first luxury monobrand boutique in Nigeria.
Designed by architects of Studio Beretta in Milan, the store’s beautifully crafted design and utilization of carefully selected raw materials accents the timeless style and sophisticated elegance that are integral parts of the Ermenegildo Zegna heritage. The boutique uses a variety of colors, materials, textures and furniture to accentuate the collections, while maintaining the cohesive style and elegance that Zegna is known for.
Ermenegildo Zegna Group CEO Gildo Zegna explained that: “2012 confirmed our positive trend despite a significant slowing down in the last quarter even in the economies that were driving growth. The negative trend in the global economy may well, in contrast with recent years, have an impact on the luxury industry.
“We are confident that we can generate positive financial results. In 2013, we will continue to invest in Europe, the USA, Mexico, People’s Republic of China, Australia and Singapore and in new markets, such as Nigeria and Vietnam, to expand our retail network. We will also have the contribution of Stefano Pilati, who has been appointed creative director of Agnona, from the summer 2014 collection, and Head of Style for Zegna Couture and the EZ shows”.
