Armani’s annual revenue hit by slowdown in luxury industry
Brand joins Hermès and LVMH in reporting sluggish Chinese sales as macro-economic uncertainty and slowing demand hit the luxury sector hard.
Giorgio Armani greets the audience at his Spring/Summer 2023 womenswear show during Milan Fashion Week. The Italian fashion house reported a 5% YoY sales decline in 2024, citing macroeconomic headwinds and slower China demand. Image: Getty Images
Giorgio Armani greets the audience at his Spring/Summer 2023 womenswear show during Milan Fashion Week. The Italian fashion house reported a 5% YoY sales decline in 2024, citing macroeconomic headwinds and slower China demand. Image: Getty Images