The group Giorgio Armani presses on the accelerator and exceeds its own forecasts: the fashion house reaches the goal of returning by 2022 to over 4 billion in induced turnover and over 2 billion in direct turnover and does it a year in advance.
“The remarkable growth achieved in 2021, confirmed by the positive trend of the first half of this year, make me cautiously optimistic – says the president and managing director, as well as creative director Giorgio Armani. I am increasingly determined to continue along my medium-long term strategic path".
In 2021 Armani registered a consolidated net profit of 169,9 million, an increase of 43% compared to the pre-pandemic levels of 2019, with an 8,4% incidence on Net revenues, a much higher value even compared to the net profit achieved in pre-pandemic 2019 (equal to 119 million, 5,5% of net revenues).
A note from the company confirms the medium and long-term strategy of the Armani group focused on “less is more” principle” according to which the fashion house has for example reduced the size of the collections with a careful selection of the distribution.
In detail, i consolidated net revenues reach 2,019 billion, an increase of 26,3% compared to 2020 (-6,3% compared to 2019, but already higher than 2019 in the second half of the year). THE net sales revenues managed directly grew by 37%, and represent over 50% of those consolidated.
In significant improvement, then, the net financial position (cash and securities), which reaches 1,12 billion (+21%), while shareholders' equity rose slightly to 2,108 billion from 2,01 in 2020.
"In 2021, the group achieved the goal of returning over 4 billion in induced turnover and over 2 billion in direct turnover, a year ahead of schedule, a goal that we had set ourselves for 2022" they comment in a note Joseph Marsocci, deputy general manager and chief commercial officer of the e Daniel Ballestrazzi, deputy general manager and chief operating & financial officer of the group.
Revenues at current exchange rates up 20% on 2021, surpassing pre-pandemic levels of 2019
The January-June 2022 period, explained Marsocci, Ballestrazzi and Armani himself, reinforces the positive picture: the revenues at current exchange rates grew by 20% on 2021 and exceeded the pre-pandemic ones of 2019, "laying the foundations for a significant improvement in operating profitability", without prejudice to the risk, in the second half of the year, of a possible increase in the impact of recession, possible new waves of the pandemic and the tightening of restrictive policies, aimed at containing the inflation dynamics, by the central banks. “My group has proven to be healthy, from an equity and financial point of view, he concludes Armani — and this allows us relative peace of mind, even in the face of any further worsening of the scenario".
