MILAN — Giorgio Armani continued to log profits for his namesake company in 2012.
The designer in his yearly financial report distributed Monday touted “the efficiency of the business model” on which his group is built and a “clear and consolidated industrial strategy.” In the 12 months ended Dec. 31, Giorgio Armani SpA reported net profits of 194.2 million euros, or $248.6 million, up 7.9 percent compared with 180 million euros, or $250.2 million, in the year before. As first reported in May, sales rose 15.9 percent to 2.09 billion euros, or $2.68 billion, compared with 1.8 billion euros, or $2.5 billion, in 2011. Dollar amounts are converted at average exchange rates for the periods to which they refer.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)