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ZGN - Ermenegildo Zegna: Positive On The Medium Term Outlook
Ermenegildo Zegna N.V.
2024-04-09 02:51:19 ET
Summary
Ermenegildo Zegna is recommended as a buy, with a focus on targeting loyal and high-spending customers and shifting away from wholesale.
The Zegna brand is reducing exposure to the aspirational segment, leading to better unit economics and customer lifetime value.
The Thom Browne brand is undergoing strategic rationalization of the wholesale division, which may impact short-term growth but yield positive long-term results.