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Armani posts "excellent" results

Luxury label Armani has delivered an “excellent” set of results for the third year running with earnings rising 20%.

During 2012 the Armani Group recorded a 20% increase in EBIT to €339m (£290.7m).

Consolidated revenues rose 16% to €2.1m compared to 2011, with “significant growth” across all markets. All lines delivered growth, with the Giorgio Armani and Emporio Armani brands recording particularly strong sales.

During the year Armani opened more than 100 stores and across its retail arm revenues rose 19% in 2012 with all territories delivering double digit growth including Europe. Sales in China were also strong with a 39% increase on 2011.

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.”

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