Giorgio Armani Addresses the Trumps
Armani said it would be part of his "job to dress a beautiful woman."
Asked about the performance of his fashion company in 2016, Armani admitted it was “a complicated year,” which closed with revenues down 5 percent on 2015, although profitability was not dented. Armani had revenues of 2.65 billion euros in 2015, or $2.94 billion at average exchange. “We have a lot of money in the bank, which is a rare thing,” he said with a smile. The year 2017 will continue to be “tough,” he conceded. “Nobody can really wave the flag of joy. It will take a couple of years. Everything is changing — how, where and when consumers buy, they are more attentive, and there is so much offer out there at different prices. We have all given up on mausoleum stores, there’s less spending billions for windows and less emphasis on huge events. To maintain one’s position is considered a good success.”