The Tamesis
At constant exchange rates, Armani Group’s net income fell 2.8% to 2.19 billion euros in 2025. A similar trend is emerging in the first few months of 2026, the company said.
2025 is a bittersweet year, marking both the Italian fashion group’s 50th anniversary and the death of its founder, Giorgio Armani, in September. His will instructs his heirs to sell 15% of the company to a preferred bidder – LVMH, L’Oréal or Essilor Luxottica – within 18 months of his death, with 30% to 54.9% to be sold to the same buyer three to five years later. Otherwise, it may seek an initial public offering, the will said. No buyer has been found, but the company appointed Giuseppe Marsocci as CEO in October 2025 and expanded its board of directors to eight members to oversee the transition.
“We continue to operate at our best, following the strategic direction set by Mr. Armani, adopting a healthy and prudent management, as evidenced by the quality component of our sales, and focusing on the long-term development of the group rather than focusing on immediate profit maximization,” Masochi said in a statement released on Wednesday. “Our attention, research and assessment of the market are currently at the highest level: we are facing possible structural changes in the attitude of current and potential consumers towards luxury goods and fashion, which must be taken into account.”
Full-year operating profitability improved, with EBITDA up 3% and EBIT up 2%. The group’s high-end product lines performed well, with both the Giorgio Armani Privé brand and Giorgio Armani boutiques achieving double-digit growth. The company also saw positive growth in the home category, hospitality and food and beverage, “confirming the credibility of the more dynamic experiential segments and the brand’s lifestyle,” the company said.
The direct-to-consumer (DTC) channel grew 2%, while indirect sales fell 7% due to lower wholesale orders. The decline was partly due to caution from sales partners and the group’s decision to be more selective in its wholesale distribution.
The company said its stability was further bolstered by balanced performance across key geographic markets including Europe, Asia and the Americas.
“We cannot help but recognize the need to adapt to changing circumstances. However, we are optimistic because today more than ever the identity of the company and the brand reflects the founding principles set by Mr. Armani in his commercial legacy,” said Marsocchi. “These values, rooted in his model of careful, timeless elegance and solid, prudent corporate philosophy, are extremely relevant to the times we live in.”
