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Related party transactions (Table)
6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
Disclosure of transactions between related parties [abstract]    
Summary of Transactions with Related Parties
The following tables summarize transactions and balances with related parties:
For the six months ended June 30, 2022For the six months ended June 30, 2021
(€ thousands)RevenuesOther income
Costs(1) (2)
Write downs and other provisionsFinancial income/(expenses)RevenuesOther income
Costs(1) (2)
Write downs and other provisionsFinancial income/(expenses)
Associates
Tom Ford International LLC16,743 — 4,009 — 36 8,858 — 2,408 — 120 
Filati Biagioli Modesto S.p.A.— 1,590 — — — — — — — 
Pelletteria Tizeta S.r.l.— — (3)— — — — — — 
Companies controlled by Monterubello or its shareholders, Zegna directors or senior management
EZ Real Estate S.r.l.(3)
— 3,930 — — — — — — — 
G. Schneider S.p.A.— — 2,703 — — 10 — 3,017 — — 
Alan Real Estate S.A.(3)
— — 1,247 — — — — — — — 
Agnona S.r.l.35 — 250 — — 642 461 83 4,020 — 
Other companies controlled by Monterubello or its shareholders, Zegna directors or senior management (4)
— 455 — (10)— 126 — 20 
Other related parties connected to directors and shareholders— — 1,033 — — — — 1,197 — — 
Total transactions with related parties16,795  15,214  26 9,516 461 6,831 4,020 140 
Total for Zegna Group728,993 6,037 349,858 654 (26,064)603,340 5,367 299,317 3,174 15,846 
__________________
(1)Costs with Tom Ford include royalties amounting to €2,074 thousand for the six months ended June 30, 2022 (€1,564 thousand for the six months ended June 30, 2021).
(2)Includes cost for raw materials and consumables, purchased, outsourced and other costs.
(3)Entities disposed of as part of the Disposition, which was completed on November 1, 2021.
(4)Includes transactions with Fondazione Zegna, Finissaggio e Tintoria Ferraris S.p.A., PKB Privatbank AG and Pettinatura di Verrone S.r.l.
The following table summarizes transactions with related parties for the years ended December 31, 2021, 2020 and 2019.
(Euro thousands)For the year ended December 31,
202120202019
Revenues
Costs(1) (2)
Personnel
costs
Write down
 and other
 provisions(3)
Financial
 income
(expenses)
Revenues
Costs(1) (2)
Personnel
costs
Financial
 income
(expenses)
Revenues
Costs(1) (2)
Personnel
costs
Financial
 income
(expenses)
Associates
Tom Ford23,047 7,730 — — 596 25,088 7,673 — 471 29,499 8,958 — 1,847 
Filati Biagioli Modesto S.p.A.49 177 — — — — — — — — — — — 
Pelletteria Tizeta S.r.l.— — — — — — — — — 
Total associates
23,096 7,907   596 25,092 7,675  471 29,503 8,960  1,847 
Companies controlled by Monterubello or its shareholders, Zegna directors or senior management             
G. Schneider S.p.A.20 5,623 — — — 217 6,683 — — 10 9,815 — — 
Agnona S.r.l.373 (485)— 6,150 — — — — — — — — — 
Disposition entities(4)
58 1,566 — — — — — — — — — — — 
Other companies controlled by Monterubello or its shareholders, Zegna directors or senior management(5)
491 — — (40)13 450 — (44)11 1,364 — (44)
Total companies controlled by Monterubello or its shareholders, Zegna directors or senior management
460 7,195  6,150 (40)230 7,133  (44)21 11,179  (44)
Other related parties connected to directors and shareholders
  1,284  (20,675) 33 860   39 1,014  
Total transactions with related parties
23,556 15,102 1,284 6,150 (20,119)25,322 14,841 860 427 29,524 20,178 1,014 1,803 
Total for Zegna Group
1,292,402 663,238 367,762 19,487 2,066 1,014,733 537,495 282,659 (13,720)1,321,327 681,498 331,944 (15,431)
_________________
(1)Costs with Tom Ford include royalties amounting to Euro 4,081 thousand, Euro 4,095 thousand and Euro 4,721 thousand for the years ended December 31, 2021, 2020 and 2019, respectively.
(2)Includes cost for raw materials and consumables, purchased, outsourced and other costs.
(3)Includes Euro 6,006 thousand related to losses incurred by Agnona subsequent to the Group’s sale of a majority stake in Agnona in January 2021, for which the Group was required to compensate the company in accordance with the terms of the related sale agreement, as well as Euro 144 thousand relating to the write down of the Group’s remaining 30% stake in Agnona (which was subsequently disposed of as part of the Disposition).
(4)Disposition entities includes Alan Real Estate S.A., EZ Real Estate S.r.l and 61 West 23rd Street LLC
(5)Includes transactions with Fondazione Zegna, Finissaggio e Tintoria Ferraris S.p.A., PKB Privatbank AG and Pettinatura di Verrone S.r.l.
Summary of Balances with Related Parties
At June 30, 2022At December 31, 2021
(€ thousands)Trade receivablesOther financial assets
Financial liabilities(1)
Other liabilities(2)
Trade receivablesOther financial assets
Other current assets(3)
Financial liabilities(1)
Other liabilities(2)
Associates
Tom Ford International LLC11,116 1,632 — 489 20,939 1,497 — — 344 
Filati Biagioli Modesto S.p.A.— 2,200 — 1,066 59 — — — 63 
Pelletteria Tizeta S.r.l.— — — — — — — — 
Companies controlled by Monterubello or its shareholders, Zegna directors or senior management
Agnona S.r.l.738 — 33 270 642 — — — 122 
G. Schneider S.p.A.— — — 943 12 — — — 516 
EZ Real Estate S.r.l.(4)
13 — — 1,590 238 — — — 1,248 
61 West 23rd Street LLC (4)
25 — — — — — — — 
Alan Real Estate S.A.(4)
— — — 35 — — — — 
Other companies controlled by Monterubello or its shareholders, Zegna directors or senior management (5)
— — 261 13 — 10,923 5,000 242 
Other related parties connected to directors and shareholders— — — 236 500 — — — 171 
Total transactions with related parties11,896 3,832 33 4,890 22,413 1,497 10,923 5,000 2,706 
Total for Zegna Group168,637 359,788 493,539 421,582 160,360 375,752 68,773 639,033 389,656 
__________________
(1)Includes non-current borrowings and other non-current financial liabilities.
(2)Includes trade payables and customer advances, employee benefits and other current liabilities.
(3)On December 20, 2021, the Group announced that the Zegna family decided to grant a €1,500 special gift to each employee of the Zegna group, amounting to a total of €10,916 thousand, as a result of the Company becoming listed on a public stock exchange. The gift was paid to employees in February 2022. Monterubello agreed to reimburse the cost incurred by the Group as an equity contribution, which was received in February 2022.
(4)Entities disposed of as part of the Disposition, which was completed on November 1, 2021.
(5)Includes transactions with Fondazione Zegna, Finissaggio e Tintoria Ferraris S.p.A., PKB Privatbank AG, Achill Station Pty Ltd., and Pettinatura di Verrone S.r.l.
The following table summarizes balances with related parties at December 31, 2021 and 2020.
(Euro thousands)At December 31, 2021At December 31, 2020
Trade
receivables
Other financial
assets
Other current
 assets(1)
Financial
liabilities(2)
Other liabilities(3)
Trade
receivables
Other financial
assets
Financial
 liabilities(2)
Other liabilities(3)
Associates
Tom Ford20,939 1,497 — — 344 23,453 1,198 — 136 
Filati Biagioli Modesto S.p.A.59 — — — 63 — — — — 
Total associates
20,998 1,497   407 23,453 1,198  136 
Monterubello and companies controlled by Monterubello or its shareholders, Zegna directors or senior management
         
Monterubello— — 10,923 — — — — — — 
G. Schneider S.p.A.12 — — — 516 18 — — 323 
Agnona S.r.l.642 — — — 122 — — — — 
PKB Privatbank AG— — — 5,000 — — — 5,000 — 
Disposition entities(4)
248 — — — 1,248 — — — — 
Other companies controlled by Monterubello or its shareholders, Zegna directors or senior management(5)
13    242 2 94  51 
Total Monterubello and companies controlled by Monterubello or its shareholders, Zegna directors or senior management
915  10,923 5,000 2,128 20 94 5,000 374 
Other related parties connected to directors and shareholders
500    171   2,146 61 
Total originating from related parties
22,413 1,497 10,923 5,000 2,706 23,473 1,292 7,146 571 
Total for Zegna Group
160,360 375,752 68,773 639,033 389,656 138,829 399,426 779,690 294,326 
_________________
(1)On December 20, 2021, the Group announced that the Zegna family decided to grant a Euro 1,500 special gift to each employee of the Zegna group, amounting to a total of Euro 10,916 thousand, as a result of the Company becoming listed on a public stock exchange. The gift was paid to employees in February 2022. Monterubello agreed to reimburse the cost incurred by the Group as an equity contribution, which was received in February 2022.
(2)Includes non-current borrowings at December 31, 2021 and non-current borrowings and other non-current financial liabilities at December 31, 2020.
(3)Includes trade payables and customer advances, employee benefits and other current liabilities.
(4)Disposition entities includes Alan Real Estate S.A., EZ Real Estate S.r.l and 61 West 23rd Street LLC
(5)Includes transactions with Finissaggio e Tintoria Ferraris S.p.A., Achill Station Pty Ltd., and Pettinatura di Verrone S.r.l.