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Intangible assets (Tables)
12 Months Ended
Dec. 31, 2025
Disclosure of detailed information about intangible assets [abstract]  
Schedule of Breakdown for Intangible Assets
The following table presents a breakdown for intangible assets.
(€ thousands)GoodwillBrandConcessions, licenses, trademarks and patentsOther intangible assetsIntangible assets in progressTotal
Historical cost at January 1, 2024256,270162,832143,921170,040106733,169
Additions2,22425,90137328,498
Disposals(2,802)(711)(3,513)
Business combinations8,2808,280
Exchange differences11,08010,3606,4631,755129,659
Other movements and reclassifications3,518(1,751)(226)1,541
Balance at December 31, 2024275,630173,192153,324195,234254797,634
Additions1,45422,12882824,410
Disposals(85)(1,316)(1,401)
Exchange differences(28,396)(20,061)(12,688)(3,556)(7)(64,708)
Other movements and reclassifications90172(251)11
Balance at December 31, 2025247,234153,131142,095212,662824755,946
Accumulated amortization at January 1, 2024(41,348)(119,547)(160,895)
Amortization(5,466)(16,686)(22,152)
Impairment(58)(58)
Disposals3,0296923,721
Exchange differences(425)(1,502)(1,927)
Other movements and reclassifications(3,057)1,097(1,960)
Balance at December 31, 2024(47,267)(136,004)(183,271)
Amortization(5,053)(19,264)(24,317)
Impairment(72)(72)
Disposals851,2181,303
Exchange differences1,1413,0984,239
Other movements and reclassifications(29)287258
Balance at December 31, 2025(51,123)(150,737)(201,860)
Carrying amount at:
January 1, 2024256,270162,832102,57350,493106572,274
December 31, 2024275,630173,192106,05759,230254614,363
December 31, 2025247,234153,13190,97261,925824554,086
Schedule of Goodwill Originated on Acquisitions made by the Group
The Group’s goodwill and brands with an indefinite useful life are allocated to the following operating segments.
At December 31,
(€ thousands)20252024
Zegna segment32,58833,344
Thom Browne segment367,777415,478
Total goodwill and brands with an indefinite useful life400,365448,822
Schedule of Sensitivity Oof the Impairment Testing to Reasonably Possible Changes in Both Assumptions
The following tables present the results of the impairment tests, as well as sensitivity analyses performed to verify whether reasonably possible changes in the main assumptions used to determine the recoverable amounts would significantly affect the results of the impairment tests for those CGUs that have significant goodwill and brands with an indefinite useful life allocated to them.
2025
Existing assumptionsSensitivity effects on headroom
(€ millions, except percentages and basis points)HeadroomWACC
(%)
EBITDA CAGR (%) vs. 2025Growth rate
(%)
WACC
+100 bps
EBITDA
-500 bps
Growth rate
-50 bps
CGU Thom Browne group1108.68%+50.3%2.75%545560
CGU Thom Browne Korea Ltd. 258.72%+42.9%3.00%212022
CGU Ermenegildo Zegna Korea Co.Ltd.18.72%+31.2%3.00%(1)
CGU Gruppo Dondi S.p.A.299.46%+7.9%3.00%252525
CGU Bonotto S.p.A.149.46%+7.0%3.00%121212
CGU In.Co. S.p.A.409.46%+41.1%3.00%232525
CGU Tessitura Ubertino S.r.l.289.46%+10.6%3.00%252626
2024
Existing assumptionsSensitivity effects on headroom
(€ millions, except percentages and basis points)HeadroomWACC
(%)
EBITDA CAGR (%) vs. 2024Growth rate
(%)
WACC
+100 bps
EBITDA
-500 bps
Growth rate
-50 bps
CGU Thom Browne group3968.75%+31.5%2.75%
247
325
325
CGU Thom Browne Korea Ltd.309.01%+28.7%3.00%212626
CGU Ermenegildo Zegna Korea Co.Ltd.59.01%+52.5%3.00%334
CGU Gruppo Dondi S.p.A.499.46%+17.0%3.00%
38
44
44
CGU Bonotto S.p.A.199.46%+9.1%3.00%
13
16
16
CGU In.Co. S.p.A.839.46%+60.8%3.00%
53
69
68
CGU Tessitura Ubertino S.r.l.239.46%+4.5%3.00%
19
21
21
2025
Existing assumptionsSensitivity effects on impairment
(€ millions, except percentages and basis points)HeadroomWACC (%)EBITDA CAGR (%) vs. 2025Growth rate (%)WACC
+100 bps
EBITDA
-500 bps
Growth rate
-50 bps
Tom Ford Fashion segment539.92%+47.3%3.00%91244
2024
Existing assumptionsSensitivity effects on impairment
(€ millions, except percentages and basis points)HeadroomWACC (%)EBITDA CAGR (%) vs. 2024Growth rate (%)WACC
+100 bps
EBITDA
-500 bps
Growth rate
-50 bps
Tom Ford Fashion segment649.62%+9.0%3.00%141655