Armani group to undergo a brand revamp amidst sales drop
Shaking things up
Following a confirmation by Giorgio Armani SpA that its sales has dropped by five percent last year (the first in seven years), the Italian luxury goods group has unveiled a new brand strategy—restructuring the brands and streamlining its shop network, starting from Spring 2018. The three core lines will be Giorgio Armani, Emporio Armani and A|X Armani Exchange, each catering to different markets. Giorgio Armani will include the signature line, Giorgio Armani Privé and the home/interior design collection, Armani/Casa; Emporio Armani will absorb the Armani Collezioni and Armani Jeans lines; and A|X Armani Exchange will be housing a new product area which was previously under Armani Jeans.
Speaking of the streamlining, the brand attributed it to "a competitive market and a constantly changing scenario. The aim is to strengthen individual brands, redeploying its portfolio to maximise its potential with respect to its relevant targets".
Back in 2015, British fashion house, Burberry has also consolidated its three brands—Burberry Prorsum, London and Brit under one label.