Luxury fashion group Giorgio Armani's namesake owner said he is more focused on developing the existing business than with seeking a partner for it, Dow Jones reported.

Armani said he was "still very occupied with the development of the Armani group" and that he didn't think it necessary to look for a financial partner at present.

Armani, the exclusive owner of the group, still takes part in product design for the company's product lines as well as in business strategy.