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Non-controlling interests | 12 Months Ended
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Dec. 31, 2025
Disclosure of subsidiaries [abstract] |
Non-controlling interests | 26. Non-controlling interests The following tables show the financial information of consolidated companies not entirely controlled by the Group, as required by IFRS 12. The amounts disclosed for each subsidiary are before intercompany eliminations and at and for the years ended December 31, 2025 and 2024.
| At and for the year ended December 31, 2025
(Functional currency thousands) | Country |  | Group’s percentage interest |  | Non- controlling interest percentage |  | Functional currency |  | Total assets |  | Total equity |  | Net revenues |  | Net income / (loss) |  | Dividends paid to non- controlling shareholders
Company |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Thom Browne group | U.S.A. |  | 92% |  | 8% |  | USD |  | 379,849 |  | 217,373 |  | 303,872 |  | (4,087) |  | —
Ermenegildo Zegna Vietnam LLC | Vietnam |  | 90% |  | 10% |  | VTD |  | 67,737,716 |  | 37,744,003 |  | 45,801,577 |  | 6,946,495 |  | —
Gruppo Dondi S.p.A. | Italy |  | 65% |  | 35% |  | EUR |  | 41,346 |  | 25,901 |  | 39,167 |  | 3,247 |  | (637)
E.Z. Thai Holding Ltd | Thailand |  | 49% |  | 51% |  | THB |  | 11,610 |  | (1,182) |  | — |  | (547) |  | —
Bonotto S.p.A. | Italy |  | 60% |  | 40% |  | EUR |  | 24,773 |  | 12,343 |  | 23,244 |  | 1,285 |  | (600)
Tessitura Ubertino S.r.l. | Italy |  | 60% |  | 40% |  | EUR |  | 9,243 |  | 4,929 |  | 10,995 |  | 1,240 |  | (600)
Cappellificio Cervo S.r.l. | Italy |  | 51% |  | 49% |  | EUR |  | 2,530 |  | 1,216 |  | 4,445 |  | 196 |  | (21)
Zegna South Asia Private LTD | India |  | 51% |  | 49% |  | INR |  | 1,061,736 |  | 480,762 |  | 615,602 |  | 119,490 |  | —
Zegna Gulf Trading LLC | UAE |  | 49% |  | 51% |  | AED |  | 388,594 |  | 143,362 |  | 389,210 |  | 72,067 |  | (21,462)
The Italian Fashion Co. LTD | Thailand |  | 65% |  | 35% |  | THB |  | 198,191 |  | 61,452 |  | 310,819 |  | 31,243 |  | —
Zegna for Retail of Readymade and Novelty Clothes W.L.L. | Kuwait |  | 49% |  | 51% |  | KWD |  | 1,198 |  | 616 |  | 1,350 |  | 120 |  | —
Zegna Consitex Arabia For Trading LLC | KSA |  | 70% |  | 30% |  | SAR |  | 53,161 |  | 20,856 |  | 14,763 |  | (4,454) |  | —
Zegna Doha Trading WLL | Doha |  | 70% |  | 30% |  | QAR |  | 19,949 |  | 1,453 |  | 616 |  | (547) |  | —
| At and for the year ended December 31, 2024
(Functional currency thousands) | Country |  | Group’s percentage interest |  | Non- controlling interest percentage |  | Functional currency |  | Total assets |  | Total equity |  | Net revenues |  | Net income / (loss) |  | Dividends paid to non- controlling shareholders
Company |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Thom Browne group | U.S.A. |  | 92% |  | 8% |  | USD |  | 355,531 |  | 207,277 |  | 340,753 |  | 16,891 |  | —
Ermenegildo Zegna Vietnam LLC | Vietnam |  | 90% |  | 10% |  | VTD |  | 42,148,803 |  | 31,181,882 |  | 42,659,395 |  | 4,158,974 |  | —
Gruppo Dondi S.p.A. | Italy |  | 65% |  | 35% |  | EUR |  | 39,485 |  | 24,486 |  | 42,139 |  | 3,674 |  | (556)
E. Z. Thai Holding Ltd | Thailand |  | 49% |  | 51% |  | THB |  | 11,914 |  | (634) |  | — |  | (371) |  | —
Bonotto S.p.A. | Italy |  | 60% |  | 40% |  | EUR |  | 25,146 |  | 12,513 |  | 24,993 |  | 2,695 |  | (470)
Tessitura Ubertino S.r.l. | Italy |  | 60% |  | 40% |  | EUR |  | 8,293 |  | 5,170 |  | 10,208 |  | 1,301 |  | (400)
Cappellificio Cervo S.r.l. | Italy |  | 51% |  | 49% |  | EUR |  | 2,552 |  | 1,058 |  | 4,002 |  | 148 |  | (17)
Zegna South Asia Private LTD | India |  | 51% |  | 49% |  | INR |  | 807,604 |  | 361,271 |  | 547,187 |  | 90,192 |  | —
Zegna Gulf Trading LLC | UAE |  | 49% |  | 51% |  | AED |  | 297,707 |  | 115,565 |  | 315,574 |  | 73,676 |  | (17,885)
The Italian Fashion Co. LTD | Thailand |  | 65% |  | 35% |  | THB |  | 257,950 |  | 29,800 |  | 300,398 |  | 31,632 |  | —
Zegna for Retail of Readymade and Novelty Clothes W.L.L. | Kuwait |  | 49% |  | 51% |  | KWD |  | 1,066 |  | 501 |  | 1,157 |  | 116 |  | —
Zegna Consitex Arabia For Trading LLC | KSA |  | 70% |  | 30% |  | SAR |  | 30,059 |  | 22,727 |  | 3,483 |  | (3,293) |  | —

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- Definition The disclosure of non-controlling interests. [Refer: Non-controlling interests] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Note Expiry date 2027-01-01 -Name IAS -Number 1 -IssueDate 2025-01-01 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2025-en-b&anchor=para_10_e&doctype=Standard -URIDate 2025-03-27 + Details
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