CHINA: DESIGNER GIORGIO ARMANI IS CONFIDENT ABOUT BUSINESS EXPANSION INTO CHINA

Record ID: 231082

  • Title: CHINA: DESIGNER GIORGIO ARMANI IS CONFIDENT ABOUT BUSINESS EXPANSION INTO CHINA
  • Date: 19th April 2004
  • Summary: (L!1) HONG KONG , CHINA (APRIL 19, 2004) (REUTERS) WIDE OF EXTERIOR OF ARMANI STORE IN CENTRAL DISTRICT SLV CROWDED STREET SLV GIORGIO ARMANI WALKING INTO CONFERENCE ROOM VARIOUS OF ARMANI TALKING TO REPORTERS DURING PRESS CONFERENCE SCU SOUNDBITE (Italian) GIORGIO ARMANI PRESIDENT AND CEO OF THE ARMANI GROUP SAYING: "I think you know there are more realities open to us. For example, I see Hong Kong has been a city really made up of mainly very wealthy people that travel the world and are probably more interested in the top end of my products anyway. Whereas I think Shanghai has more commercial possibilities, I think Armani jeans could be a better market. And also there is a lot of more space, the possibility to find the right kind of location is easier" 6. VARIOUS OF PEOPLE SHOPPING IN ARMANI STORE VARIOUS OF ARMANI STORE WITH CLOTHES ON RAIL VARIOUS OF ASSISTANT PUTTING CLOTHES ON DISPLAY VARIOUS OF INTERIOR OF ARMANI STORE WITH CUSTOMER LOOKING AT BAGS PAN OF ARMANI CLOTHES ON DISPLAY VARIOUS OF ARMANI CAFE INSIDE ARMANI STORE WIDE OF CUSTOMERS IN CAFE SMV STAFF IN BAR/ CAFE WIDE OF DISPLAY WINDOW OF ARMANI STORE
  • Embargoed: 4th May 2004 13:00
  • Keywords:
  • Location: HONG KONG, CHINA
  • Country: China
  • Topics: Business,Arts,Industry
  • Reuters ID: LVACF7J46GA96ZIW9T0AZRR61G2Y
  • Story Text: Italian designer Giorgio Armani is confident about expansion in China.
    Italian designer Giorgio Armani put in a delayed performance at his shop in Hong Kong on Monday (April 19).
    Armani postponed his trip from last year due to the SARS outbreak.
    The legendary designer was in China to inaugurate his flagship Shanghai store on the riverfront Bund. He stopped by his Hong Kong store to talk to the press: "I think you know there are more realities opened to us. For example, I see Hong Kong has been a city really made up of mainly very wealthy people that travel the world and are probably more interested in the top end of my products anyway. Whereas I think Shanghai has more commercial possibilities, I think Armani jeans could be a better market. And also there is a lot of more space, the possibility to find the right kind of location is easier,"
    said Armani.
    Armani also said he may move some of their production lines, such as watches, away from China due to increased piracy.
    Piracy of goods ranging from videos to software, handbags and auto parts is rampant in China, with one report estimating the value of counterfeit goods sold in the country at $16 billion U.S. dollars.
    The latest collection showcased light and pretty pinks in satin, black and white jackets and dresses in linens and cottons.
    Armani is recognized as s major player in the fashion industry and he says he is confident about the expansion of The Armani Group in China. According to the China Daily, the group plans to open between 20 and 30 stores in the Chinese mainland by 2008.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2013. Open For Restrictions - http://about.reuters.com/fulllegal.asp
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