Ermenegildo Zegna NV, Italy’s exclusive fashion house listed in New York, is poised for a substantial luxury expansion, strategically placing the spotlight on the Tom Ford brand. Acquired as part of Zegna Group’s restructuring, Tom Ford International holds the potential to ascend among the top 10 global fashion brands, as stated by Ermenegildo Zegna, the visionary CEO.
Ranked within the top 25 in the FashionUnited Index of Most Recognized Fashion Brands, Tom Ford’s prominence offers a valuable opportunity for Zegna to fortify its leadership in menswear and make significant strides in the lucrative accessories and womenswear segments.
Zegna envisions doubling Tom Ford store numbers to 100 in the mid-term, with upcoming openings in Rome and Beijing in 2024. The goal is to achieve a yearly revenue increase of over 10% for Tom Ford International.
CEO Ermenegildo Zegna, an influential force in steering the company towards «leisure luxury» lines, showcases innovative offerings such as the Triple Stitch shoes, favored by corporate luminaries like Tim Cook and Jamie Dimon. This shift has led to a surge in US revenue, and Zegna aims to replicate this success in China.
Incorporating lessons from mentor Sergio Marchionne during his Fiat Chrysler board tenure, Zegna has embraced an aggressive expansion strategy. Recent acquisitions, including Thom Browne and Tom Ford International, signify pivotal steps in attracting younger customers and enhancing global presence.
The April acquisition of Tom Ford International is viewed as transformative, positioning the traditional family-run business as a modern, high-end fashion house. The longstanding collaboration between Zegna and designer Tom Ford, spanning over 15 years, reinforces the synergy between the two entities.
Acknowledging challenges in Asia, particularly in China, where the rebranding response has been gradual, Zegna remains optimistic, especially for Tom Ford. Zegna sees his company as an aggregator of luxury brands, with future opportunities on the horizon, though no deals are anticipated in 2024.
As Zegna continues its dynamic journey from a humble woolen mill to a globally listed fashion powerhouse, the strategic alliance with Tom Ford underscores its commitment to innovation, expansion, and staying at the forefront of the ever-evolving luxury fashion landscape. Explore the unparalleled luxury of Zegna and Tom Ford, defining the future of global fashion.
