Sales In The Chinese Market Increased In Armani09.

Armani's report shows that in spite of significant growth in China, the company's profits continued to decline in the 09 year, due to the financial crisis leading to a decline in core business.

The company's revenue in 2009 dropped to $303 million compared to $445 million 700 thousand in 2008.

But the company did not disclose profit margins.

In addition, sales in the Chinese market increased by 32%.

Giorgio Armani, chairman and chief executive of Armani, said that despite the impact of the financial crisis, this result once again proves the strength of the brand and illustrates the stability of the current business model.

He believes that the company will focus on the development of core products and the market, so that we can grasp the opportunity of the global market recovery.

The situation in the first few months of 2010 has shown good momentum.

"

"Everything will get better," John Hooks, vice president of the company, said in an interview with WWD. "We believe that there will be tremendous business opportunities for developing countries in 2010 and 2011.

At the same time, I will continue to develop our core markets, such as the United States, Europe and Japan.

Although the Japanese market slumped last year, it was 2009.

Company

Last year, the company opened 182 stores, 72 of which were run independently.

It is also worth mentioning that last year, the company opened its flagship store in Fifth Avenue.

The company will pay more attention to the Chinese market in the future. Besides big cities like Beijing and Shanghai, the company will also spread the market to second third line cities.

In 2008, sales in the Chinese market increased by 32%, the company opened 66 stores in China and 5 stores were ready to open.

The company believes that China still has great room for development, waiting for further excavation.

In addition, the company will also open up the tourism consumer market. In 2009, it opened a tourist boutique at Hong Kong International Airport, French Charles De Gaulle Airport and Austria airport.

It is reported that the company also has plans to open such stores in the US airports.

Company executives believe that if we want to overcome the difficulties, we need to further subdivide our products, and the company will reposition its Collezioni and Cowboy brand.

It is easier for them to be accepted by the mass market and to be recognized by department stores.

But in terms of corporate strategy, there will be no big change.

In September, changes in top management of Armani indicated that the workload of Giorgio Armani would be reduced.

But Giorgio, who is now on his 76 birthday, has not yet thought of retiring.