Armani Group's 2025 results: sales decline, profitability improves

The Armani Group closed 2025 with an organic decline in net sales of 2.8 percent (-4.6 percent in euros at current exchange rates), amounting to 2.19 billion euros (2.56 billion dollars), and an improvement in operating profitability (EBITDA +3 percent, EBIT +2 percent).

The company estimates over 6 billion euros in retail value of Armani products sold worldwide.

Review of Armani's financial performance

Solid balance sheet figures were confirmed: net worth of approximately two billion euros and liquidity of approximately 600 million euros. In a statement, the company, led by CEO Giuseppe Marsocci, announced that the figures align with the general trend in the sector. They amount to over four billion euros in induced turnover, including direct turnover from licensees.

Consolidated gross operating profit (EBITDA) pre-IFRS16 and before depreciation and amortisation grew by 3.2 percent from 148 to 152.7 million euros. The pre-IFRS16 operating profit stood at 52.6 million euros, a slight improvement on the 51.3 million euros in 2024.

“In 2025, a year marked not only by the company's 50th anniversary but also sadly by the passing of our founder, we continued to operate to the best of our ability within the strategic path laid out by Mr Armani. We have maintained sound management without forcing issues, as the qualitative components of our sales confirm. Our perspective is focused on the group's long-term future, not on maximising immediate profit,” emphasised Marsocci, CEO and general manager, in the note.

“Our attention, study and evaluation of the market are at their peak right now. We are facing a possible structural change in the approach to luxury and fashion by current and potential consumers, which is essential to take into account.”

Highlights of Armani's 2025 results across retail channels

Regarding individual channels, direct retail grew overall by 2 percent at constant exchange rates in 2025, while indirect channels recorded a -7 percent. This “primarily reflects the decline in wholesale orders and the reasonable caution of distribution partners in the overall market context,” the note specifies.

The 2025 trends by geographical macro-area—Europe, Asia and America—at constant exchange rates, “are very balanced with no substantial differences between them compared to the general trend, which appears to be a further element of stability,” the statement continued.

As of December 31, 2025, the Armani Group's net cash position amounted to 529 million euros, a decrease of approximately 41 million euros compared to the previous balance sheet date. Including treasury investments in the net financial position, the net cash position amounts to 596 million euros.

Consolidated net worth amounts to 1.99 billion euros

Consolidated net worth, on the other hand, amounts to 1.99 billion euros. This is a slight decrease of about 3 percent compared to the previous balance sheet date due to currency fluctuations recorded in 2025. It corresponds to 51 percent of total assets (post-IFRS16), a percentage of ‘equity’ that confirms the group's strong financial solidity.

Regarding the coming months, management expressed optimism. “Today more than ever, the identity of the company and the brand is reflected in the founding principles that Mr Armani established in his corporate testament. These values are rooted in his model of discreet and timeless beauty and elegance, as well as the idea of a solid and prudent enterprise. They are extremely current, perhaps more relevant than ever to the times we are living in,” concluded Marsocci.

This article was translated to English using an AI tool.

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Giorgio Armani

Giuseppe Marsocci