Armani’s Annual Revenue Hit by Slowdown in Luxury Industry

Armani’s Annual Revenue Hit by Slowdown in Luxury Industry

Italian fashion house Armani Group reported a 5 percent drop in sales last year after the luxury sector was hit by macro-economic uncertainty and slowing demand in China.

Fashion supplier Altofare in talks with creditors amidst slowdown in the luxury sector

The leading Italian fashion supplier, Altofare is now in talks with the creditors, following the withdrawal by banks, given the company’s increasing financial burden and overall slump in the luxury sector. With this sector facing challenges largely in its supply chain and procurement management, the reports by McKinsey and BoF (Business of Fashion) highlight only […] The post Fashion supplier Altofare in talks with creditors amidst slowdown in t…

Global luxury sector braces for downturn as demand weakens

The ongoing uncertainty in the global economy, combined with the effects of Trump-era tariffs, is proving challenging for luxury brands like Louis Vuitton, Hermès, and Gucci. According to data from Bain & Company and Altagamma, the luxury sector is set to experience its second-largest downturn since the financial crisis.

Armani Group reports revenue drop

Drapers Armani Group reports revenue drop Armani Group, which owns its luxury brands Giorgio Armani, Emporio Armani and Armani Exchange, has reported a 5% drop in revenue year on year for 2024, as the luxury slowdown persists.The post Armani Group reports revenue drop appeared first on Drapers.

Armani revenues fall 5% in 2024 as luxury slowdown persists

The Milan-based company reported a dip in revenues, due to global tensions and high levels of uncertainty. The company’s investments, though, are up.