- July 25, 2021
- Posted by: Stratford Team
- Category: Business
The logo of Italian fashion company Giorgio Armani is seen at a shop in Zurich, Switzerland July 8, 2021. REUTERS/Arnd Wiegmann/File Photo
MILAN, July 25 (Reuters) – Sales at Giorgio Armani jumped 34% in the first half of 2021 as business in China and the United States helped the Italian fashion group bounce back, although it said it could be next year before it fully recovers from the pandemic.
“The goal is to return to pre-pandemic levels by 2022, with… over 2 billion euros in direct consolidated revenues,” Chairman and CEO Giorgio Armani said on Sunday in a statement announcing 2020 results and the trend for January-June.
The luxury group said consolidated net sales had fallen 25% last year to 1.6 billion euros ($1.9 billion), with most of the decline occurring in the first half of 2020.
Luxury goods sales around the world fell sharply last year for the first time in years as the pandemic forced shop closures and brought international tourism to a…
