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As Zegna Logs 64% Profit Growth, CEO Eyes More

MILAN — Gildo Zegna wants to be prepared for unforeseen challenges “with a certain degree of coolness.”
The Ermenegildo Zegna Group closed 2017 with a 64 percent spike in net profits, but its chief executive officer says he is never satisfied. “The trend is positive, but our goal is to grow more, we have everything it takes, we have the resources, we have a complex machine that works and we have a team that is supporting Alessandro Sartori, who is making the difference,” Zegna told WWD on Monday, referring to the men’s wear group’s artistic director. Sartori left Berluti in 2016 to return to the Zegna Group, succeeding Stefano Pilati with expanded responsibilities, and his first collection bowed for fall 2017.
In 2017, net earnings totaled 32.8 million euros, compared with 20 million euros in 2016.
In the 12 months ended Dec. 31, earnings before interest, taxes, depreciation and amortization climbed 13.6 percent to 142 million euros, compared with 125 million euros in the previous year.
Revenues increased 2.3 percent to 1.18 billion euros, compared with 1.15 billion euros in 2016. At constant exchange, sales gained 4.5 percent.
“Alex [Sartori] is full of energy, he has brought modernity and style to the company and his way

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