Giorgio Armani may not have been shortlisted in the top ten most successful luxury brands, however the company's sales rose an impressive 45% last year and seemed untouched by the global recession. Operating profit for the year ending Dec.
31st rose 23.2 percent to EUR 281.8m compared with EUR 228.6m the previous year. Sales grew 13.6 percent to EUR 1.8bn in 2010. The company, which is privately held by Mr Armani and family, did not disclose net profit.
Giorgio Armani shows no sign of slowing down
Thursday, 24 May 2012
The infatigable designer, who is also chairman of his Milan-based empire, stated: "The excellent results achieved in 2011, both in terms of turnover and profit margins, confirm yet again the soundness of the group's strategies, particularly given the current period of uncertainty."
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