Thom Browne CEO Bazan to step down, Sam Lobban named successor

MILAN - Thom Browne CEO Rodrigo Bazan will step down from his role effective August 31, 2025, after nine years leading the luxury fashion brand, parent company Ermenegildo Zegna N.V. (NYSE:ZGN) announced Wednesday. The company, currently valued at $2.2 billion, has seen its stock decline 8% over the past week. Sam Lobban, currently Executive Vice President at Nordstrom, will take over as Chief Executive Officer on September 2.

Under Bazan’s leadership since 2016, Thom Browne has grown to reach €315 million in revenue in 2024 and expanded to 116 directly operated stores globally. The brand has established itself in the modern luxury tailoring segment, contributing to Zegna Group’s impressive 66.6% gross profit margin. According to InvestingPro analysis, the company appears undervalued based on its Fair Value metrics, with several more exclusive insights available to subscribers.

"Under Rodrigo’s leadership, Thom Browne’s revenues have nearly tripled since our acquisition of the brand," said Gildo Zegna, Ermenegildo Zegna Group’s Chairman and CEO, according to the press release.

Bazan also played a significant role in Thom Browne’s intellectual property defense against Adidas, which helped protect the brand’s identity. He will depart to pursue other opportunities.

Lobban, who will succeed Bazan, currently serves as Executive Vice President and General Merchandising Manager for Apparel & Designer at Nordstrom. His career includes positions at Selfridges in London and as part of the founding team at Mr. Porter. At Nordstrom, he has curated collaborations with various brands, including Thom Browne.

"Having been a wholesale partner for so long, I’ve been fortunate enough to have a front row seat watching as they’ve built an incredible business," Lobban said in the statement.

Thom Browne, the brand’s founder and Chief Creative Officer, expressed gratitude for Bazan’s contributions and welcomed Lobban to the company.

The Ermenegildo Zegna Group, founded in 1910 in Italy, operates three brands: ZEGNA, Thom Browne, and TOM FORD FASHION. The company reported revenues of €1.95 billion in 2024 and employs more than 7,100 people globally. InvestingPro subscribers can access the comprehensive Pro Research Report, which provides deep-dive analysis of Zegna’s financial health, currently rated as "Good" by InvestingPro’s proprietary scoring system.

In other recent news, Ermenegildo Zegna Group announced it has finalized an agreement to sell 14.1 million treasury shares to Singapore-based investment company Temasek. This transaction, valued at $126.4 million, will result in Temasek acquiring a 10% stake in the Italian luxury group. The shares were sold at $8.95 each, reflecting the volume-weighted average price of Zegna shares between June 30 and July 25, 2025. Previously, Temasek had acquired 12.7 million shares through market purchases. This development marks a significant investment by Temasek, underscoring confidence in Zegna’s global expansion efforts. Zegna, which went public in December 2021 via a SPAC merger, continues to attract investor interest. The recent acquisition by Temasek highlights the company’s ongoing appeal in the luxury fashion market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.