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November 29th, 2012 @ 11:04 AM
Cacharel Unveils New CEO, in Major Corporate Revamp
November 21st, 2012 @ 00:56 AM
Kane Drops Out of Versus in Major Shake-up
November 20th, 2012 @ 10:14 AM
Pucci’s Madison Avenue Store Debuts Massive Expansion
November 16th, 2012 @ 00:35 AM
Ghesquière Departs Balenciaga in Major Surprise
November 05th, 2012 @ 00:43 AM
Sao Paulo Fashion Week: Between Optimism and Fear
November 02nd, 2012 @ 00:28 AM
London Unveils Men’s Season Schedule
November 01st, 2012 @ 00:36 AM
Azzaro Releases Castello Branco
October 25th, 2012 @ 00:18 AM
Revenue Soars 22 Percent at LVMH in First Three Quarters
October 16th, 2012 @ 00:18 AM
Rykiel Names Geraldo da Conceicao Artistic Director
September 21st, 2012 @ 8:12 PM
Brazil’s New London Pop-Up
September 21st, 2012 @ 7:20 PM
McQueen Men Returning Home to London
September 12th, 2012 @ 7:19 PM
Roitfeld, Mum and Son, Open in Brazil
September 07th, 2012 @ 00:54 AM
Berluti Opens to Big-Time Business in London
September 06th, 2012 @ 3:27 PM
Stefano Pilati Back with a Bang at Zegna
September 05th, 2012 @ 7:10 PM
Hugo Boss Wows in Berlin, Plans for New York
July 06th, 2012 @ 00:17 AM
Salvatore Ferragamo: Crusin’ the Louvre
June 13th, 2012 @ 11:04 AM
Michel Klein Gains New Backer; Launches Sunglass Collection
June 13th, 2012 @ 00:48 AM
Sykes Jettisoned by Aquascutum; Maurer In at Rabanne
June 06th, 2012 @ 00:18 AM
Armani Conquers China, Chastises the Pope
June 01st, 2012 @ 11:53 AM
Armani Profits Rise 15% in 2006; Sales Hit $2 Billion
April 19th, 2007 @ 10:40 AM - Paris
The booming Armani business continues to roll ahead.
Giorgio Armani announced Thursday that it had wracked up a 15% rise in consolidated net profits (EBITDA), breaching the magical 300 million Euros figure, i.e. just over $400 million at current exchange rates.
Armani also announced that consolidated net revenues also touched a major landmark figure, rising 9% to 1,474 billion Euros, or just under $2 billion, in the financial year ending Dec. 31, 2006.
The Milan-based fashion house added that 2006 wholesale revenues had surged by 11% to 2.064 million Euros, or $2.765 billion.
The company’s net financial position also looks pretty healthy, with a positive balance of 264 million Euros, or $354 million, at the year end, following a capital investment programme of 103 million Euros, or $138 million.
“Our financial results in 2006 demonstrate that the strategic investments we have made over the last several years in creating our unique business model have succeeded in generating dynamic growth for the Armani Group, across all regions of the world and all of our product categories and lifestyle collections,” trumpeted Giorgio Armani, President and Chief Executive, in a press release.
He added that value of the Giorgio Armani Group’s worldwide retail sales in 2006 is now an estimated 5 billion Euros, or a whopping $6.7 billion.
The designer was keen to underline the following highlights in the impressive 2006 performance: major growth in his accessories business, which now boasts wholesale distribution in 1,100 doors; rapid worldwide expansion of the A/X Armani Exchange brand, in particular in new markets like Brazil, Indonesia and the United Arab Emirates; the strong performance of licensed products, especially the eyewear, and a “fast-track retail expansion program” within the travel and duty free sector.
Looking ahead, the Armani Group plans to open a further 50 new stores worldwide this year, including a Tokyo Armani/Ginza Tower concept store. Also in the pipeline are the launches of a new Giorgio Armani skin care line and a new men’s fragrance called Attitude.
The designer also plans to shortly unveil the show apartment for the world’s first Armani Residence located at the Burj Dubai - planed to be the world’s tallest building, located in Dubai - providing a preview of upcoming Armani hotels and resorts.
The Armani Group directly employs 4,900 and owns 13 factories. The designer’s mammoth retail network now comprises: 73 Giorgio Armani boutiques, 12 Armani Collezioni stores, 140 Emporio Armani stores, 115 A/X Armani Exchange stores, 18 AJ | Armani Jeans stores, 7 Armani Junior stores, 1 Giorgio Armani Accessori store, 1 Emporio Armani Accessori store and 25 Armani Casa stores in 46 countries.
Armani is also busy developing a mini international chain of at least 10 luxury hotels and resorts in the world’s most important cities and destinations.