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Report: Giorgio Armani Says Company’s Independence Is Essential

The independence of the Armani vogue home is “a necessary worth,” designer Giorgio Armani informed the journal MFF. Shutterstock.

The independence of the Armani vogue home is “a necessary worth,” designer Giorgio Armani, founder and sole shareholder of the corporate that bears his identify, informed the journal MFF.

Requested about potential curiosity in changing into a part of an Italian luxury-goods conglomerate, Armani, 87, stated he wouldn’t touch upon rumours.

“I’ve been working arduous for the way forward for my firm for a very long time,” he informed vogue publication. “I hope the long run will probably be stable, I’m dedicated to construct it”.

Agnelli inheritor John Elkann has explored a potential tie-up with Giorgio Armani SpA as a part of a plan to construct a luxurious conglomerate anchored round Ferrari NV, of which he’s chairman, Reuters reported in July, citing individuals it didn’t establish.

Elkann had supplied to purchase a minority stake within the vogue home, however his proposal was rebuffed, based on Reuters. The Agnelli household holding firm Exor denied making an strategy.

Two months in the past Armani stated it hoped to see a return to pre-pandemic degree gross sales in 2022 after the Italian vogue group misplaced a few fifth of its web income in 2020.

The Milan-based firm reported whole revenues final 12 months from Armani-branded merchandise worldwide, together with licensing revenues, of €3.3 billion ($3.9 billion), down 21 p.c from 2019, it stated in a press release.

By Flavia Rotondi

Be taught extra:

Armani’s Future in Focus

The Italian vogue group has denied any curiosity in a Ferrari tie-up reportedly pitched by funding banks, however analysts don’t rule out a cope with Ferrari proprietor Exor.

https://www.businessoffashion.com/information/luxurious/report-giorgio-armani-says-companys-independence-is-essential | Report: Giorgio Armani Says Firm’s Independence Is Important

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