Nilly Foster Named Zegna Brand President and CEO of North American Region
MILAN — The Ermenegildo Zegna Group has named Nilly Foster as president and CEO of the North American region for the Zegna brand, effective June 15. Her responsibilities will cover the U.S. and Canada and she will report to the group’s chairman and CEO Gildo Zegna.
The company is leveraging Foster’s more than 20 years in the luxury retail sector in North America, and her experience working with brands such as Ralph Lauren and St. John.
Foster joins the Italian group from Christian Dior where she spent the last eight years and where she most recently held the role of executive vice president of retail and wholesale for North America.
She succeeds Luca Lo Curzio, who was promoted to that role in April 2020, from his previous position as worldwide chief marketing and digital officer.
North America is a key market for the Zegna Group, which also includes Thom Browne. As reported, group sales in the region in the fourth quarter increased 26.7 percent to 82 million euros, with the U.S. amounting to 77 million euros, up 26.1 percent from the same period in 2021. Revenues in North America reached 295 million euros in 2022, up 54.1 percent. The U.S. in particular was up 53.5 percent to 270 million euros in the year.
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Zegna is looking at opening more stores in the U.S., also in mid-tier cities, and a new boutique will open on Fifth Avenue in New York. Another door will open at Bloomingdale’s.
Gildo Zegna noted in January how handmade tailoring and the most expensive fabrics are such hits in the U.S. that the company “can’t keep in stock. Certain customers go for the super special and super exclusive fabrics, worsted cashmere and vicuna is back.”
Zegna has set a date to reach 2 billion euros in sales by the end of fiscal 2025.
As reported in November, The Estée Lauder Cos. is acquiring the Tom Ford brand in a transaction valuing the brand at $2.8 billion. As part of the deal, the Zegna Group, which is publicly listed in New York, is entering a long-term license agreement to develop the Tom Ford fashion categories. Zegna has had the license for Tom Ford menswear since around 2006.
This story was reported by WWD and originally appeared on WWD.com.
