Armani China Sales Surged 32%
Italy
Luxury goods
Group George
Armani
Last year, global sales decreased by 6%, while in China
Sales volume
A sharp increase of 32%.
The net operating income of the company fell sharply by 28% to 218 million euros, mainly affected by the recession in the US and Japan.
Nevertheless, Armani still maintains strong financial capacity.
Despite the economic crisis, the luxury brand continued to expand its stores, reaching 182 stores last year, so that the company has 1503 stores.
Giorgio Armani, chairman and chief executive of Armani, believes that the company will focus on developing core products and markets, so that we can grasp the opportunities for global market recovery.
The situation in the first few months of 2010 has shown a good momentum and the company will continue to develop its core market.
He also said that the company will pay more attention to the Chinese market in the future. Besides big cities like Beijing and Shanghai, the company will also develop second third line cities.
In 2008, the company opened 66 stores in China, and now there are 5 stores ready to open.
The company believes that there is still much room for further development in China.
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