MILAN Jan 18 Italian vogue house Giorgio
Armani posted significantly slower development in 2015 than the previous year,
with income increasing 3.7 percent to two.64 billion euros ($2.9
billion) as Europe stagnated and growth slowed in China.
Weaker client paying in China, the place stellar financial
growth is easing, a recession in Russia amid plummeting oil
prices and international protection http://blog.hubspot.com/ threats hurting tourism have put a
brake on development for the luxury sector.
Armani was no exception: last year's revenue growth was
about a quarter of the sixteen percent rise in sales the organization
reported for 2014.
Armani's income spots it behind Hong-Kong listed Prada
as Italy's 2nd largest luxury products organization, with a
brand that spans furniture to cosmetics to perfumes.
Speaking to reporters soon after showcasing the Autumn/Winter
2016 menswear assortment of his youth-targeted Emporio Armani
line, 81-12 months-old Armani stated Europe had carried out in 2015 in
line with 2014 while revenue growth in China had weakened.
Sales rose in the United States, Japan and the Middle East.
Revenue margins were secure, he stated with out including internet marketing tools more
information. Complete 2015 outcomes will be released in the spring.
Armani reported 2014 earnings just before interest, tax,
depreciation and amortisation (EBITDA) of 207 million euros, or
twenty percent of income.
($one = .9177 euros)
(Reporting by Valentina Za editing by David Clarke)