Solid growth across geographies and channels for both the Zegna and Thom Browne labels, in particular in Europe, the U.S. and the Middle East, boosted the Ermenegildo Zegna Group’s top line in the third quarter. And Gildo Zegna, chairman and CEO, believes the Middle East “can be the new China.” During a conference call with analysts on Thursday to comment on the quarterly results, he said he was in the Middle East two weeks ago, visiting five countries in a few days, which led him to a confident take on the region. “We are well-placed there and will be open stores with an aggressive five-year strategy. They are interested in what we do there,” he observed.

In the three months ended Sept. 30, the group reported unaudited revenues of 357 million euros, up 27.5% year-over-year. Sales in the first nine months of 2022 reached 1.09 billion euros, up 22.9% compared with the same period in 2021.

The Zegna segment, which includes Zegna branded products as well as the textile and third-party brands product lines, reported a 27.2% increase in sales in the quarter, reaching 289 million euros and showing an acceleration in the third quarter.

The Thom Browne label grew 29.5% in the quarter, reaching revenues of 69 million euros.

“This quarter was one of our strongest yet thanks to exceptional performance by both Zegna and Thom Browne in Europe, the Middle East, and the U.S., as well as a rebound in the Greater China region,” said Gildo Zegna. “We achieved a number of milestones this quarter as we continue to execute on our strategy and commitments while remaining true to the values that have guided us for 112 years.”

He highlighted the launch of Oasi Cashmere, “a significant step on our road to traceability,” with the goal of 100% of the cashmere used in this collection being fully traceable by 2024. He also underscored that Oasi Zegna received this year’s Biodiversity Conservation Award at the CNMI (Camera Nazionale della Moda Italiana) Sustainable Fashion Awards in September at the tail end of Milan Fashion Week.

Zegna also congratulated Thom Browne on his appointment as the next chairman of the Council of Fashion Designers of America, “a testament to his creativity, his incredible success, and his leadership in the fashion industry in the U.S. and around the world.”