Armani Group renews partnership with Shinsagae InternationalThursday, 19 July 2012
Armani Group on the 20th
anniversary of its launch in Korea announced that it has renewed its partnership with Shinsagae International.
Giorgio Armani first made inroads into the Korean market by establishing Emporio Armani there in 1992, in partnership with Shinsegae International. Since then, over the past two decades, the Armani Group has increased its presence in Korea from one Emporio Armani store to 56 boutiques representing six different brands: Giorgio Armani, Armani Collezioni, Emporio Armani, AJ/Armani Jeans, Emporio Armani Underwear and Armani Junior.
In 2012, the Group turned over KRW 82 billion ($71.99 million) in the Korean market and expects total sales of KRW 100 billion ($87.8 million) in 2013. Furthermore, the Armani Group aims for growth in sales to double by 2016. Sales have increasing by around 20 percent every year since launch.
Fabio Mancone, Licensing & Communication Global Director of the Armani Group said, “We have managed to grow in both quantity and quality in Korea with our excellent and reliable business partner, Shinsegae International. Based on our great working relationship, I believe we will be able to double our turnover in the next five years to reach 100 million euros ($122.86 million).”
The Giorgio Armani Group is a fashion and luxury goods groups with over 5,700 direct employees and 12 factories. It designs, manufactures, distributes and retails fashion and lifestyle products including apparel, accessories, eyewear, watches, jewellery, cosmetics, fragrances, and furniture and home furnishings under a range of brand names. The Group’s exclusive distribution network comprises 751 stores in 46 countries.