Armani sees return to pre-pandemic level sales next year

Growth trend: Models displaying creations of Giorgio Armani in Milan. Its consolidated revenue as of June rose 34% compared with the same period last year. ― AFP

MILAN: Giorgio Armani SpA sees pre-pandemic level sales returning next year after the Italian fashion group lost about a quarter of its net revenue in 2020.

“The goal is to return to pre-pandemic levels by 2022, with over €4bil (US$4.71bil or RM19.91bil) in indirect revenues, including licenses, and over €2bil (US$2.35bil or RM9.93bil) in direct consolidated revenues,” Giorgio Armani, chairman and chief executive officer of the Armani Group, said in a statement.