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Giorgio Armani, in response to the growing demand for convenient fashion and not easily outdated accessories, is expanding its handbag and footwear collections, while also increasing the company's profit margin. Sales of accessories have become the fastest growing area of the luxury jewelry industry, as shoe accessories manufacturers find that many consumers believe that accessories are easy to match and can be matched in different seasons. Because of the large price difference between retail prices and production costs, the sale of accessories has also brought considerable profits to luxury jewelry companies. Armani recently stated that all of our physical stores are selling apparel. Global accessory sales are expected to increase by 40% in the near future. Clothing sales accounted for 57% of Armani's 2011 total sales of 1.7 billion euros. As a company that is not publicly traded, Armani announced that last year's profit increased by 13.6%. Our footwear accessories manufacturer believes that this is due to the 45% profit growth of the world's fastest growing luxury market in China. The Armani Group has a total of 6 clothing collections, including the Giorgio Armani collection. The company also produces sunglasses and perfumes and licenses them to brands such as eyewear maker Luxottica. Armani's handbag designers have repeatedly emphasized that they will not sell their business. Despite the impact of the European debt crisis, the market growth is expected to be faster this year. Armani claims to be able to show consumers what they can buy in stores, not just clothing, at fashion shows. Mr. Armani said: "The catwalk can inspire consumers. But if the clothes displayed on the catwalk are only a small part of our store's products, then such a fashion show is meaningless." |
