“Proudly independent”. Signed: Giorgio Armani (left, in Shutterstock photo). The group he founded has filed an excellent 2022, and the first quarter 2023 confirmed the growth trend. “The long-term strategic path I have chosen to take continues to prove effective as the results show. 2022 ended with further growth that continued in the first quarter of 2023, strengthening the group’s solidity even more”, comments what everyone considers the king of Italian fashion. A proudly independent king.
Proudly independent
“In an increasingly difficult and competitive environment, I am proud that I have been able to maintain my independence and the group’s stability also thanks to the work and commitment of my collaborators and employees,” Armani emphasises. The group will end 2022 with consolidated revenues of 2.35 billion euros: +16.5% compared to 2021. Revenues that exceed 4.5 billion euros if we also consider those coming from licences. While total retail sales are estimated at 6.5 billion euros. EBITDA is growing by 25%.
Settlement period concluded
First-quarter trends for 2023 show net sales increasing by 18%. The recovery in China offsets the slowdown in the US. “We can consider the settling-in period resulting from the decision to reorganise the brand portfolio by focusing on the three core brands positively concluded: Giorgio Armani, Emporio Armani and Armani Exchange”, comments Armani Group management. “We are advancing well ahead of schedule towards the objectives set for 2025, the year in which we celebrate the fiftieth anniversary of our founding”, reads the note reported by Adnkronos.
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