Giorgio Armani may no longer be considered the cutting edge of upscale fashion, but the man who has come to epitomize Italian style since the 1980s remains the label of choice for the discerning wealthy, and is the best-selling designer worldwide after Ralph Lauren. More importantly perhaps, Armani himself has turned his attention to conquering the business of fashion. The designs may not make headlines any more, but his corporate empire goes from strength to strength. Wealth has allowed Armani to take firm control of every aspect of his business, from manufacturing to distribution to retailing, while also successfully expanding the brand beyond apparel into designer furnishings.
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Adbrands Weekly Update 22nd May 2014: Fashion giant Giorgio Armani reported another year's solid growth with group revenues rising 4.5% to a new high of E2.1bn. Total retail sales for Armani products, including licensed products, were estimated at E7.75bn, or around $10.3bn. Armani continued to expand his control over all aspects of his empire, most recently by buying out his 50% partner in the AX Armani Exchange "fast fashion" label for an undisclosed sum.
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