Armani keeps investing after record turnover | RetailDetail

Armani keeps investing after record turnover

Armani keeps investing after record turnover

Italian fashion group Armani has created a record turnover of no less than 2 billion euro in fiscal year 2013. The company vows to keep investing into the expansion of its own chain of stores.

Exchange rates impact turnover

Armani managed a record 2.19 billion turnover in 2013, 4.5 % better than the year before, even though turnover grew more that year (+ 16%). The company can look back with satisfaction as it managed growth in every market and for every brand, despite the exchange rates negatively impacting the end result. If their effects could be ignored, 2013's growth would have been 8.3 %. China's slowed growth also had its effects.


The record turnover helped Armani to reach a 401 million euro operational profit, 18 % higher than the year before. Last year, the company had also invested 100 million euro into the expansion of its chain of stores and into the improvement of its supply chain, among others. It will keep up these investments this year, with the goal to open at least as many stores this year as it has done last year.


Further investments

Alongside these investments, Armani has purchased the remaining 50 % of A/X Armani Exchange, a fast-fashion brand it hopes to use to compete with brands like H&M and Zara. Currently, A/X Armani Exchange has some 270 stores worldwide.


It does however get criticized quite a bit as it increasingly focuses on the middle of the market, which may degrade the luxury brand's image, while other brands (like Gucci and Louis Vuitton) have moved into the direction of the richer customers.

Questions or comments? Please feel free to contact the editors

Spar makes ambitious entry into Greece


Spar International has set its sights on Greece as the next country to conquer and lead as the foremost independent food retail chain. Spar Hellas will cooperate with Asteras and Mesis to develop more than 500 Spar stores over the next four years.

Dr. Oetker buys half of Freixenet


Henkell, which is Dr. Oetker’s drinks division, has acquired slightly more than half of cava brand Freixenet’s shares. Following two years of negotiations, both companies struck a deal, even though the German food giant will not reign supreme at Freixenet.

Picnic confirms German arrival


There had been rumours that Dutch online supermarkets Picnic was trialing in Germany, news its co-founder Michiel Muller has now confirmed.

Délifrance joins FFC's portfolio


Dutch Franchise Friendly ConceptsDélifrance Benelux acquisition is in full swing. The franchise organization will obtain the French sandwich chain’s Benelux master franchisee on 1 April.

IKEA has developed actual "bug burger"


SPACE10, furniture giant Ikea’s innovation lab, will present a healthy alternative to the classic hamburger, where the meat is replaced by red beets and mealworm. It is also working on a “dogless hotdog”;

Supermarkets' price difference with neighbouring countries grows


Belgian supermarkets are increasingly more expensive than those in neighbouring countries according to Prijzenobservatorium’s research. Shoppers in France, Germany and the Netherlands quickly pay 10 % less.

Back to top