Italian fashion conglomerate Giorgio Armani posted a pre-tax rise of 19 percent to €246 million for 2006, on consolidated sales up 9 percent to €1.5 billion. The company attributed the growth to solid sales of accessories, jewellery and beauty products.

Armani said the company had experienced growth across all geographic areas, product lines and brands. Europe and North America both saw double-digit growth of 11 percent and 10 percent respectively, followed by the Far East with 9 percent growth. Jewellery outperformed other categories by far with 41 percent growth, followed by eyewear with 20 percent and watches with 17 percent. The company's children's wear brand Armani Junior grew 26 percent, while its lifestyle brand A|X Armani Exchange grew 17 percent. In a statement, Armani founding president and chief executive Giorgio Armani highlighted the ongoing worldwide expansion of the A|X Armani Exchange brand, which includes new markets such as Brazil , Indonesia and the United Arab Emirates . He also emphasized the growth of the accessories business, for which the company now has a wholesale distribution of 1,100 doors. He pointed out the strength of the licensed products “which are now benefiting from a successful market re-positioning� and the “fast-track retail expansion programme within the travel and duty free sector.�

In 2006, Armani opened 42 stores, a combination of directly operated stores and with franchise partners. This year, the company has over 50 new store openings in the pipeline, including the Tokyo Armani/Ginza Tower concept store, 25 A|X Armani Exchange stores and 20 Emporio Armani stores. With a current network of 392 stores, this amount will exceed 400 by years' end.

The company is upbeat about its expectations for the current year, which got off to a strong start. “The current year is showing the same positive momentum as in 2006 with wholesale orders for the Autumn Winter 2007/8 collections up 9 percent year-on-year,� Armani said.