The Italian fashion group Armani has recovered significantly due to increasing demand in China and the USA.
In the first half of the year, sales grew by 34 percent, as company founder Giorgio Armani announced on Sunday.
“The goal is to return to pre-pandemic levels by 2022,” the designer said.
In the past year, corona-related sales slumped by 25 percent to 1.6 billion euros, as many stores around the world had to be closed, especially in the first half of the year.
The Milan-based group did not disclose the value of total sales for the period January to June 2021.
The positive trend signals higher profitability.
The financial situation has improved significantly in the past six months.
The liquidity of 1.088 billion euros "ensures the financial resources that are necessary for the medium to long-term stability and growth of the group".
Last year the group made a consolidated net profit of 90 million euros, but an operating loss (EBIT) of 29 million euros.
Speculations about the succession plan at Armani have recently come to the fore. The 87-year-old designer fueled this himself by saying that he could consider working with another Italian company. Insiders told Reuters earlier this month that John Elkann, a member of the Italian Agnelli family, was considering collaborating. He wants to build a conglomerate for luxury goods.