Zegna flags Middle East war risk, says luxury demand outlook clouded despite resilience in US, China, Europe
“It’s hard to predict exactly what the situation will be in the Middle East,” Chief Executive Gildo Zegna said in an interview on Friday, when the company announced its full-year results.
The company said in a statement that the war, which has been going on for three weeks, has increased uncertainty about the global economic outlook this year. However, the president said direct sales to consumers in the first quarter were higher than in the fourth quarter of 2025.
Zegna, which did not give details about 2026, said that it focused on achieving 2027 targets, which can be adjusted depending on the length of the conflict.
“The situation is constantly evolving and the potential impact on the group and the wider luxury sector remains unclear,” the company said.
