<ul data-eligibleForWebStory="false"><li>Armani Group reported a 5% drop in sales in 2024, with net consolidated revenue of €2.3 billion ($2.7 billion) due to macro-economic uncertainty and slowing demand in China.</li><li>Cash holdings slumped by about 40% to €570 million as Armani renovated flagship stores.</li><li>Asia Pacific revenue fell to 19%, reflecting the China slowdown, while Europe accounted for almost half of Armani's revenue and the US represented about 22%.</li><li>Giorgio Armani expressed confidence that market difficulties and international tensions will ease. The company made record investments of €332 million in 2024, including renovations in key locations like New York and Milan.</li></ul>

Armani’s Annual Revenue Hit By Slowdown In Luxury Industry

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