Armani marked time in 2024

Despite a decline in revenue and an even greater drop in EBITDA, the group led by designer Giorgio Armani made record investments in 2024.

Armani has not been immune to the turbulence in the luxury sector.

On July 2, the Italian group announced a 5% decline at constant exchange rates (-6% at current exchange rates) in its consolidated net revenue to €2.3 billion for the 2024 financial year, but more significantly, a 24% drop in EBITDA to €398 million.

In line with the sector average

The group puts this into perspective, pointing out that, based on data from various specialist research firms, its results are in line with the average for the fashion and luxury sector in 2024.

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Featured image: © Giorgio Armani