With Facebook going public, all eyes are on other businesses that haven’t yet followed suit. Giorgio Armani is one such place where many are focusing their attention in the business world.
At the moment, Armani has double digit growth in his business and he’s let all those interested know that he has absolutely no plans to sell. As he told Il Sole 24 Ore in an interview, “At the moment… I am resisting all temptations (to sell), there are certainly many but they don’t lure me.”
Other Italian luxury goods companies like Prada and Salvatore Ferragamo have launched IPOs in the last year, making many speculate about a company like Armani. Armani says that they will continue with their focus on the Chinese market where sales have grown 45% just in the last year. They are also expanding their presence into Brazil, while keeping their traditional markets in the United States and other locations in their sights.
Not bad for a company that has revenues of $2.27 billion in 2011.