Fashion group Giorgio Armani has for the first time reached a turnover of two billion euro last year: a rise of no less than 16% for the Italian group - yet another example of high-end brands that escape the global economic crisis.
2.091 billion euro in sales
The Italian fashion group Giorgio Armani saw its sales rise to almost 2.1 billion euro last year (+16%). Never before did the Italian label sell so much. The operating profit grew even faster: +20% to 339 million euro.
The big leap forwards happened (again) in Asia: in the whole of that continent Giorgio Armani grew 29% (to 512 million euro), but in China alone sales rose by an impressive 39%. In the United States sales rose by 15% and even in Europe – still the most important continent for the Italian fashion label – Armani performed well: a growth of 11%.
100 new shops this year
It is the third time in a row the fashion group has grown and 2013 also looks promising, they say during an interview with the American fashion magazine WWD: “It is of course still too early to make predictions, but I expect the positive trend to continue this year.”
The group has invested 158 million euro in its worldwide distribution network in 2012. It also opened 104 new shops, bringing the total to 2,203 shops. This year 100 new openings are planned, although the group does not want to say where: “Our strategic plan sees us committed both to mature markets as well as to emerging economies, in line with the trend in recent years”, Armani said.