Zegna flags Middle East war risk, citing uncertain demand outlook despite resilience in US, China, and Europe

Ermenegildo Zegna's Executive Chairman Gildo Zegna has cautioned that the ongoing war in the Middle East has clouded the luxury demand outlook, despite resilience in China, the US, and Europe. The company's direct sales to consumers in Q1 are tracking higher than Q4 2025, but the potential impact of the conflict remains uncertain. Zegna is focused on reaching its 2027 targets, which could be adjusted depending on the length of the conflict.