MILAN — Double-digit sales increases in jeans, watches, cosmetics and perfumes allowed Giorgio Armani to post a 9.7 percent increase in pretax profits last year despite less robust growth in other parts of its apparel business.
Armani’s pretax profit for the year ended Dec. 31 rose to $214.5 million from $196.2 million. Sales advanced 2.3 percent to $1.4 billion from $1.37 billion, in line with preliminary figures released earlier this year, but slower than the 5 percent growth in the first half of 2002. Dollar figures are converted from the euro at current exchange rates.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"