Pursuits
Zegna Warns of Possible Slowdown in Luxury Goods Sales in 2012
This article is for subscribers only.
Ermenegildo Zegna SpA, the Italian maker of $2,645 wool suits, warned of a possible slowdown in sales of luxury goods in 2012 even as it forecast revenue will grow at least 10 percent this year.
While “cautiously optimistic” about 2011, “I am more worried about 2012,” Chief Executive Officer Ermenegildo Zegna said June 18 in an interview before the Trivero, Italy-based company’s spring-summer 2012 runway show in Milan. “I see shadows in Europe, I see a question mark in the United States, a relative slowdown in China.”