Armani sales surge 23%

Armani says its sales topped €800m last year, as upmarket shoppers splashed out on clothes and accessories.

Armani says net revenues across the group grew by 23% in 2001 to reach 1.27 billion euros with all geographic regions and product categories showing an improvement.

The design and retail empire founded by Giorgio Armani designs, manufactures, licences and sells clothes - from jeans to catwalk fashion - and products such as watches, sunglasses and perfumes.

Milan-based Armani currently has 257 stores in 34 countries after opening 33 outlets during 2001. These include five Giorgio Armani boutiques, one of which is in Moscow, and 11 Emporio Armani stores.

Revenues across the retail arm were up 9% at 481 million euros with Europe seeing sales growth of 16% and the US posting a 1% spark despite a "dramatic slowdown" in the fourth quarter in the wake of September 11.

Mr Armani, who is president and chief executive, says he's pleased with the performance, especially given the "adverse global economic climate".

Armani says its perfumes division has seen "strong growth" during 2001, helped by the launch of White and Acqua di Gio pour Homme becoming the world's leading men's fragrance.

Armani is scheduled to issue its full results for the year to December 2001 in April.