Armani Group wants to grow its accessories’ share and is said to have entrusted BCG (Boston Consulting Group) with drafting the plan to develop the category (with particular attention to bags) together with other business opportunities, such as hospitality. Industry experts read the choice as a desire to leverage the brand’s potential ahead of the sale of 15% of the share capital, as requested by founder Giorgio Armani, which should begin in the last four months of the year. CEO Giuseppe Marsocci didn’t open up on the subject, but spoke about the new governance.
Armani wants to grow its accessories
As many know, leather goods are a fundamental product category for luxury because they are highly profitable for brands. Today, however, the category represents
a relative share of Armani’s turnover.
Bloomberg revealed that the Milan-based group has appointed Boston Consulting Group to identify growth strategies in leather goods and hospitality. According to the anonymous sources cited, the consultancy is likely tied to the future, as the group plans for the sale of 15% of its capital. “Armani management and heirs want the group’s company value to
be correctly assessed, especially in this uncertain market”,
a source told WWD. “It means they are beginning to think about the sale”.
Priorities
Armani group CEO Giuseppe Marsocci didn’t comment on the future while attending the Fashion & Luxury Talk organized by RCS Academy. He referred to Giorgio Armani’s will, which, he emphasized, includes the direction towards which to go. Regarding corporate governance, he specified that the decision-making process didn’t change until the final mile, up to the decision that lay with the then founder. “It’s one of the new aspects we’re working on. We’re in a transition phase… getting to know this new system. Within the company, balances tend to settle”.
Photo from Giorgio Armani’s social media
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