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Adrian Diverger

Research Analyst at Goldman Sachs Group

Adrien Duverger is an Equity Research Analyst at Goldman Sachs International, specializing in the luxury goods and retail sector. He covers companies in these areas and has engaged in detailed inquiries on factory expansions, supply evolution, and wholesale partner confidence, as seen in his questions to company executives. Duverger works at Goldman Sachs, with limited public details on his full career timeline, previous firms, or specific performance metrics available.

Adrian Diverger's questions to Ermenegildo Zegna (ZGN) leadership

Question · Q4 2025

Adrian Diverger from Goldman Sachs Group asked about the performance of the Chinese cluster and underlying demand trends for the group, expectations for 2026, the pricing environment and opportunity for higher pricing, and whether the proportion of higher-spending cohorts increased this year, noting any geographic differences.

Answer

Gianluca Ambrogio Tagliabue, COO, indicated a sequential improvement for the Zegna brand's Chinese cluster in Q4, but maintained a prudent outlook for 2026 due to volatility. He stated mid-single-digit price increases are planned for 2026 to offset currency fluctuations. Gildo Zegna, Executive Chairman, confirmed that growth is driven by high-spenders, particularly for Zegna and Tom Ford, through product development and personalization projects.

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