Armani reports 16 percent turnover increase full year 2012, reaching 2,1 billion euros
Giorgio Armani SpA reports solid financial results for the full year 2012, with a 16% increase in its turnover which reached 2,1 billion euros. Armani Group’s total revenue, including all licenses (beauty, fragrances, residential projects etc) totalled 7,2 billion euros in 2012.All geographical regions posted double digit growth for the Armani Group in 2012, the company operating 2,200 stores worldwide, of which 800 stores are directly operated. As for China, Armani reports slower growth of 39%, compared to 49% in 2011, the group operating 290 stores in Greater China.
The has also confirmed it plans to continue its worldwide retail expansion, opening 100 new stores in 2013. Cash reserves of Armani Group at Emporio Armani flagship store, New York31st December 2012 were 565 million euros in decline, compared to 643 euros at the end of 2011. On the question of succession, given his age, Mr Armani told media he has taken all precautionary measures and the company’s management team is well prepared for any scenario.