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Giorgio Armani's Chinese growth fuels profit rise

Italian luxury fashion house Giorgio Armani saw operating profit rise 23% last year driven by its continued growth in China.

Revenue rose 14% to €1.8bn (£1.4bn) as operating profit rose to €281.8m (£226.0m). According to the Financial Times, sales across all brands and geographical regions grew. Sales in China soared 45% with 28 stores opened in China during 2011.

In total, Giorgio Armani opened 100 stores last year, 12 opened in Europe, with 11 launching in North America and eight in Japan.

Chairman and owner Giorgio Armani said: “On the basis of these results, we look with cautious optimism to 2012 and beyond and reconfirm our long-term strategic development plans.”

Since the end of the year the company said sales had continued to rise with revenues in the first quarter rising double digits.

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