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 27th Jul 2017: A wide-ranging restructuring programme depressed revenues at Giorgio Armani group in 2016, but cost-cutting and consolidation of the brand's distribution network boosted profitability. In annual accounts filed this month, Armani reported a 5% decline in sales to €2.5bn, compared to the company's record high the year before of €2.65bn. However net profits rose 12% to €271m, and the company's cash pile grew by more than a third to €881m. The group is also rationalising its fashion offering, cutting the less profitable Armani Collezioni and Armani Jeans lines to focus on three core labels of Giorgio Armani, Emporio Armani and A|X Armani Exchange.
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 €2.1bn. Total retail sales for Armani products, including licensed products, were estimated at €7.75bn, 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.
Subscribers may access the following website links:
Giorgio Armani website
|Giorgio Armani Parfums||Armani Casa|
|Emporio Armani Orologi||A/X Armani Exchange|
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