Giorgio Armani shows no sign of slowing down
By FashionUnited
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Again in the first quarter in 2012 Giorgio Armani shows no sign of slowing down, posting a double-digit increase in revenues both at retail and wholesale. "On the basis of these results we look with cautious optimism to 2012 and beyond, and reconfirm our long-term strategic development plans," said Armani.
In 2011, all brands grew across all geographical markets, and the company highlighted a selective distribution strategy and a streamlined management, noted WWD. The group's brands include Giorgio Armani Privé, Giorgio Armani, Emporio Armani, Armani Collezioni, AJ Armani Jeans, A|X Armani Exchange, Armani Junior and Armani/Casa.
The Giorgio Armani line accounted for 32 percent of total sales, including licensed products at wholesale value (versus 33 percent in 2010). Emporio Armani followed, accounting for 27 percent of revenues, as it did the previous year. A|X Armani Exchange accounted for 14 percent of sales, versus 13 percent in 2010.
Globally, there are 751 group stores in 46 countries, of which 89 are Giorgio Armani boutiques. The Armani Hotel Milano opened in November under the Armani Hotels Resorts banner, a venture between Giorgio Armani SpA and Dubai-based developer Emaar Properties PJSC that was formed in 2005. The Milan location follows the unveiling in April 2010 of the designer's first hotel in Dubai's Burj Khalifa tower.
The group has more than 5,700 direct employees and 12 factories.
Image: Rihanna for Emporio Armani SS12