Armani, revenues down 5% but investments double

The Armani Group did not survive 2024 unscathed, a year in which both fashion and high-end saw revenues and profitability decline, but it resisted better than many others.

Revenues fell 5% to 2.3 billion at constant exchange rates (-6% at current rates) and profits suffered compared to 2023, although they remained positive. The EBITDA index fell to 398 million (-24%), similar to the reduction in net profit before taxes, which reached 74.5 million.

Strengthened by its independence and the financial solidity built over the years, in 2024 the group doubled its investments - entirely self-financed - compared to the previous year, bringing them from 168.5 to 332 million, almost three times compared to the average of previous years. Last year, resources were allocated to the renovation of many of the most important flagships, such as the Madison Avenue building in New York, Emporio Armani in Milan and Palazzo Armani, the new headquarters in Paris, and to digital, with the complete internalization of e-commerce management.

The group's net liquid assets are still significant, at the end of 2024 they were 569.7 million: the difference compared to the end of 2023 (945.6 million) is mainly linked to real estate acquisitions. No forecasts are being made for 2025, unlike what happened on 27 July 2024, on the occasion of the publication of the 2023 financial year data. The reason is clear: compared to a year ago, geopolitical and therefore global economic uncertainty has increased exponentially and it makes no sense to hypothesize the trend of the second half of the year, especially not being bound by the obligations of those who are listed.

2025 remains important for another reason. The company founded and still led by Giorgio Armani is celebrating 50 years: that many years have passed since 1975, when the designer began building the group, together with his partner and life partner Sergio Galeotti, who passed away in 1985 at just 40 years old.