The Armani Group also announced today that it has signed a letter of intent for the creation of a new joint venture company, controlled by Giorgio Armani S.p.A., that will acquire four factories specialised in the production of both women’s and men’s shoes, among which is the well-known manufacturer, I Guardi . Through this acquisition, which is expected to be completed by the beginning of June 2002, the Armani Group will create an important internal manufacturing capacity in the shoe sector with the production of Armani collections commencing with the Spring/Summer 2003 season. The present management of the factories will represent a fundamental source of know-how in this strategic business area including a group of businessmen who will be the joint venture partners.
The Armani Group is one of the leading fashion and design groups in the world today. It designs, manufactures, distributes and retails fashion products, including apparel, accessories, eyewear, watches, home products, fragrances and cosmetics under a range of lifestyle brand names: Giorgio Armani, Armani Collezioni, Mani, Emporio Armani, Armani Jeans, A/X Armani Exchange, Armani Junior and Armani Casa. The Group’s exclusive retail network currently comprises 53 Giorgio Armani boutiques, 1 Giorgio Armani Accessori, 10 Armani Collezioni stores, 114 Emporio Armani stores, 65 A/X Armani Exchange stores, 7 Armani Jeans stores, 3 Armani Junior stores and 6 Armani Casa stores in 34 countries.
Contact: Robert Triefus
Corporate Vice President, Worldwide Communications Armani Group
Tel: (39) 02 723181