Giorgio Armani, the Italian fashion company whose clothes are worn by Leonardo DiCaprio and Angelina Jolie, plans to open as many as three stores and “lots of points of sale” in Russia as business improves, vice president John Hooks said Tuesday.
The Milan-based clothing company is “in discussions” to open standalone stores in two to three Russian cities, Hooks said.
Giorgio Armani opens about 40 shops a year worldwide, and next year won’t be much lower than that, he said.
“Sales are tough also in Russia,” Hooks said. “We’ve seen some improvement recently as we’ve seen around the world. We are cautiously optimistic, we hope for the best and we are
investing in future.”
Giorgio Armani has 10 stores and about 220 points of sale in Russia, which accounts for about 5 percent of the company’s revenue, Hooks said.
Russian luxury-goods sales are poised for a “small rebound” next year as the economy starts expanding again, Yves Gijrath, founder of the Millionaire Fair, said in an interview over the weekend.
“The Russian market is very important for us,” Giorgio Armani, the company’s founder and owner, said at a news conference in the GUM department store Tuesday. “Russians have a very strong economic influence on the company.”
Giorgio Armani, 75, said he would continue to manage his company, when asked if he plans to retire.
“No one can refuse his life, and work is the basis of all my life,” Armani said. “A whole team is being set up around me, and at some point they will be able to continue my business.”
Armani is the sole shareholder of his fashion empire, which comprises seven labels including Emporio Armani, Armani Jeans, Armani Casa and Armani Junior.