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Armani Revenue Up 2.4% in 2008
(Source: LuxuryBrandNetwork.com)
The Armani Group reported that full-year 2008 revenue rose 2.4% at constant exchange rates to €1.620 billion. Eearnings before interest, taxes, depreciation and amortization (EBITDA) was down 14.7% from 2007 to €303.2 million. . . . keep reading
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Bill Blass Couture Shuttered (1/4)
Bill Blass Couture parent NexCen Brand Inc. has closed the 38-year-old label, suddenly laying off more than 60 employees with no severance. NexCen is so cash strapped that they've already made plans to sell the furniture from the Bill Blass showroom on Seventh Avenue in New York City. . . . keep reading
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Armani Breaks Ground on Milan Hotel (12/17)
(Source: LuxuryBrandNetwork.com)
Construction began earlier this month on Giorgio Armani's second hotel project. The Milan property, a collaboration between Armani and Dubai-based developer Emaar Properties, is expected to open in 2010 and will include 160 guest rooms and suites. A 2005 agreement between Emaar and Armani calls for the development of seven luxury hotels and three resorts within the next 10 years. . . . keep reading
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Dubai is Battleground for 'Couture Cribs' (12/17)
(Source: TimesOnline.com)
Dubai property developers long used to "one-upping" each other on amenities and location are increasingly partnering with "superstar" designers to differentiate. But by partnering with competing developers, Giorgio Armani, Donatella Versace, Karl Lagerfeld and Fendi are themselves competing in a "celebrity smackdown," says London's TimesOnline.com. . . . keep reading
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Brioni Looking to Sell 20-25% Stake (12/1)
(Source: Bloomberg)
Italian clothier Brioni has hired banker BNP Paribas SA to explore the possibility of selling 20-25% of the company to pay down debt and fund acquisitions. "The idea is to develop a growth plan," Brioni co-CEO Andrea Perrone told Bloomberg. "We would like to do acquisitions, to develop synergies with other important brands." . . . keep reading
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Bang & Olufsen Retreats, Reorganizes
(Source: LuxuryBrandNetwork.com)
Denmark's Bang & Olufsen announced a dramatic restructuring that involves a new management team, a large layoff, consolidation of back-office operations, expense reductions and an end to its development of mobile phones, mp3s and stand-alone DVD players. . . . keep reading
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Dior Extends Brand to Mobile Phone
(Source: Wall Street Journal)
PARIS -- Following on the heels of Prada and Dolce & Gabbana, Christian Dior SA announced it would extend its brand beyond traditional fashion items and sell mobile phones. Priced at €3,500, . . . keep reading
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