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Giorgio Armani Group spoke about earnings for 2022 and the first quarter of 2023

Date: March 1, 2024 Time: 22:36:46

Giorgio Armani Group reported earnings for 2022 and the first quarter of 2023. Thanks to investments in communications, digital advertising and retail, the company’s sales increased. For the 12 months ended December 31, group revenue grew by 16.5% to €2.35 billion. In 2021, this figure was 2,020 million euros.

According to WWD, sales exceeded 4.5 billion euros and the group’s retail sales volume is estimated at more than 6.5 billion. Net profit before taxes amounted to 218 million euros. This is an increase of 16.4% compared to 187.3 million euros in 2021. Profit before taxes increased by 25% to 289 million euros.

By 2022, the group increased spending on communication initiatives by 22% and spending on IT and digital infrastructure by 25%. In the first quarter of 2023, revenue grew by 18% compared to the same period in 2022. The highest sales growth was seen in Europe, then Asia and America.

Earlier it became known that Giorgio Armani will present a yacht in collaboration with The Italian Sea Group. She will be ready only in 2024, but the buyer has already been found. We talk about it in more detail here.

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Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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