ITALY: Giorgio Armani Expects US Sales Slump
World-famous Italian fashion and design group Giorgio Armani SpA has revealed it expects 2001 sales in the US to plunge 20 per cent compared to the previous year.
The group gave no explanation for the forecast slump or give estimates for this year but did add that it expects better 2001 results for Europe and Japan.
Also on Thursday, the company opened a stylish new two-storey boutique in Florence, Italy, designed by Giorgio Armani in collaboration with a leading architect.
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