Armani: Sales increase in the first half for the Italian group
Armani reported a 20% increase in sales at constant exchange rates in the first half.
After swinging to an operating profit in 2021, Italian luxury house Armani, is seeing revenues return above pre-pandemic levels in the second half of the year.
The group’s revenues “now consistently exceed the levels achieved in 2019, paving the way for a substantial improvement in operating profitability – subject to certain potential risks,” the brand said in a note citing a possible economic downturn caused by the war in Ukraine, new waves of covid-19 and restrictive monetary policies to combat inflation.
Armani says last year’s consolidated net sales were 2.02 billion euros, up 26.3% from 2020. Sales from directly operated stores, which account for more than half of the total, were up 37% from 2020.
The group posted earnings before interest and taxes (EBIT) of €171.2 million, compared to an operating loss of €29.5 million in 2020. “The remarkable growth achieved in 2021, consolidated by the positive performance of the first half of this year, makes me cautiously optimistic,” rejoices Giorgio Armani, chairman and CEO of the group.
Read also > [LUXUS+ MAGAZINE] A SHORT HISTORY OF LUXURY: THE METEORIC RISE OF GIORGIO ARMANI IN 5 KEY DATES
Featured photo : © Giorgio Armani
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Passionnée depuis son plus jeune âge par l’art et la mode, Hélène s’oriente vers une école de stylisme, l’Atelier Chardon-Savard à Paris, avec une option Communication. Afin d’ajouter des cordes à son arc, elle décide de compléter sa formation par un MBA en Management du Luxe et Marketing Expérientiel à l’Institut Supérieur de Gestion à Paris dont elle sort diplômée en 2020. Elle a notamment écrit des articles lifestyle et beauté pour le magazine Do it in Paris et se spécialise en rédaction d’articles concernant le luxe, l’art et la mode au sein du magazine Luxus Plus.********** [EN] Passionate about art and fashion from a young age, Hélène went to a fashion design school, Atelier Chardon-Savard in Paris, with a Communication option. In order to add more strings to her bow, she decided to complete her education with an MBA in Luxury Management and Experiential Marketing at the Institut Supérieur de Gestion in Paris from which she graduated in 2020. She has written lifestyle and beauty articles for Do it in Paris magazine and specializes in writing articles about luxury, art and fashion for Luxus Plus magazine.