Excellent results for Armani in 2012
The fashion group recorded double-digit growth in travel-retail and duty-free last year
The Armani Group has announced “a very positive financial performance for the third consecutive year” in 2012. Turnover including licensed products at retail value reached a record €7.4bn ($9.5bn) compared with the previous corresponding period, while consolidated revenue grew 16% to €2.09bn ($2.7bn).
The company said growth was evident in all of the brand’s lines, particularly Giorgio Armani and Emporio Armani. Revenue in the directly-managed retail channel was up by 19% and double-digit growth was recorded in all territories including Europe. In China, revenue rose by 39% in 2012 against the previous year. Operating margin (EBIT) was up by 20% to €339m ($434.5m).
The travel-retail and duty-free channel also recorded an excellent performance, with a strong double-digit year-on-year increase in revenue and “significant growth worldwide”, according to the company.
Group chairman Giorgio Armani said: “The excellent results achieved in 2012 confirm the quality of leadership that we have here at Armani. They are the result of a strategy focused on the constant search for quality, an approach that over the years has built an extraordinary level of brand awareness and loyalty. We have also continued to enjoy a strong relationship with our wholesale partners.
“The positive figures for the group in the first quarter of 2013 give us cause to look ahead with confidence, and help confirm that our commitment to consistency, continuity, and long-term strategy is the right path to follow,” he concluded.
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