Armani Group's 2022 results show growth with net revenues up 16.5% to ?2.35 billion and profits rising even faster.
The post Armani Group Achieves Continuous Growth Across 2022 and Q1 2023 appeared first on LUXUO.

Image: Style du Monde

There is much to celebrate at Italian luxury group Armani as the fashion house reported strong 2022 and Q1 2023 results as per the press release shared on 25 May. The group?s revenue ended 31 December rose 16.5 per cent to ?2.35 billion when compared to 2021, and earnings before tax and interest grew 25 per cent to ?289 million. As for the first quarter of 2023, Armani Group recorded positive growth of 18 per cent across all its sales channels.

As owners of Giorgio Armani, Emporio Armani and Armani Exchange, the group joins other companies like LVMH, Kering, Richemont and others in displaying resilience despite global and economic uncertainties like the ongoing conflict between Russia and Ukraine and rising prices. ?Notwithstanding a global economic environment that is still characterised by multiple crises, all sales channels registered significant growth in 2022 over 2021,? shared the brand in a press release. A balanced breakdown was observed with ?direct retail up 17 per cent, wholesale up 16 per cent, and e-commerce up 9 per cent?. 
The group further elaborated that in 2022, its key markets were Europe and America as both were the first to relax public health restrictions and travel was reinstated. Performance on these two conti...