Sign in

You're signed outSign in or to get full access.

Natasha Bonnet

Research Analyst at Morgan Stanley

Natasha Bonnet is an Equity Analyst at Morgan Stanley, specializing in the consumer cyclical sector with a focus on luxury goods. She covers specific companies including The Swatch Group, Ermenegildo Zegna Group, and Brunello Cucinelli, where she has issued ratings such as Sell on Swatch Group (CHF145 target, January 2025) and Sell on Zegna (€6.19 target, November 2024). Her performance track record shows a 0.56-star rating on TipRanks with a 14.29% success rate across 6 stocks. Bonnet's career details are limited in public records, positioning her currently at Morgan Stanley with no disclosed prior firms or start dates; professional credentials such as FINRA registrations are not publicly detailed.

Natasha Bonnet's questions to Ermenegildo Zegna (ZGN) leadership

Question · Q4 2025

Natasha Bonnet with Morgan Stanley asked about the growth level baked into the group's sideways EBIT margin guidance for 2026, whether Tom Ford EBIT is expected to turn positive in 2026, and if the 2028 EBIT guidance of 12% still makes sense. She also inquired about the Triple Stitch franchise's revenue exposure in 2025 and the number of store closures planned for Zegna and Thom Browne in Greater China for 2026 and beyond.

Answer

Paola Durante, Chief of External Relations, deferred margin-related questions to the full-year results call in March. She confirmed Triple Stitch's revenue exposure remains consistent at around 15-1.5% of revenues. Gianluca Ambrogio Tagliabue, COO, indicated that over the mid-term, approximately 10 Zegna stores in China might not be renewed at expiry, with some additional closures for Thom Browne.

Ask follow-up questions

Fintool

Fintool can predict Ermenegildo Zegna logo ZGN's earnings beat/miss a week before the call

Question · Q4 2025

Natasha Bonnet asked about the growth level baked into the group's sideways EBIT margin outlook for 2026, whether Tom Ford EBIT is expected to turn positive in 2026, and if the 12% EBIT guidance for 2028 remains relevant. She also inquired about the revenue exposure to the Triple Stitch franchise in 2025 and the number of store closures planned for Zegna and Thom Browne in Greater China for this year and next.

Answer

Paola Durante, Chief of External Relations, deferred margin-related questions to the March earnings call. She confirmed that Triple Stitch's revenue exposure in 2025 remains consistent with past figures, around 15-1.5% of revenues, with shoes overall accounting for about 20%. Gianluca Ambrogio Tagliabue, COO of Ermenegildo Zegna, indicated that over the medium term, approximately 10 Zegna stores in China might not be renewed at expiry, with some additional closures for Thom Browne, but no major impact expected from Tom Ford.

Ask follow-up questions

Fintool

Fintool can write a report on Ermenegildo Zegna logo ZGN's next earnings in your company's style and formatting