Lola, would you tell us more about the business of Armani? I always feel that, even he doesn’t have the cult, he always has his loyal clienteles. The mainline is kind of the epitome of old-school Italian luxury with dashes of modernity. Considering their PR practices and marketing strategy, my overall impression for the brand is quite good—they have the perfect ambassadors and the clienteles base that always exude classism and sophistication.
I don’t know more about Armani than what is already known tbh...
Armani does have a loyal clientele as you said. Armani is still a reference in menswear, in the world of tailoring and in that mature clientele. There are a lot of Asians in his shows and not necessarly because they are big shoppers and they are shopping every brand but in Asia, there’s still that social hierarchy and rich women who wants to look rich in classic conservative way do love Armani and obviously don’t mind to see their husbands wearing the brand too. For years, an Armani suit was status symbol....And to a certain generation, it still means something.
The problem with the brand is a bit similar with Versace, even if Armani has an healthy business. Armani is doing 2,3 billions in sales. It’s great and amazing for an independent brand...But when you look at the numbers of brands in the Armani umbrella, it’s kinda weird.
Versace despite all their various lines didn’t made profits for years!
And the problem with Armani is that in terms of pure business, all those lines speaks to very specific markets without having the creative proposition to match!
Armani Privé is for me the only line of the brand that match the creative expectations: The Couture is strong, the exclusive perfumes are great.
All the other lines have a nice package with a dusty product. Do we need Armani Exchange in 2020? Can you sell a Couture dress and at the same time try to compete with high street at a little higher price, with an irrelevant product?
I think he should use the crisis as an opportunity to down-size his business to meet the expectations of our times. The way as Versace Couture, Versace Jeans Couture and Versus have no reason to exist in 2020.
Armani has an image of sophistication but is available at every mall in the world, next to Michael by Michael Kors.
I really think that with the right creative director, the brand can reinvent itself. Dolce & Gabbana have successfully managed to merge D&G and make the mainline stronger.