ITALY: Armani Remains Independent As Sales Soar
Giorgio Armani, owner of the Italian fashion house Giorgio Armani SpA, has pledged to keep his company independent despite advances from larger rivals, according to a report in the Wall Street Journal. Armani saw a very healthy 2000 with sales, which increased by 20 per cent compared to last year, reaching two trillion lire ($973m). The group even recorded an increase in sales in the US, where sales for many retailers have been notoriously slow.
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