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25 May

Giorgio Armani Group Reports Strong 2022 and Q1

Giorgio Armani Group Reports Strong 2022 and Q1
MILAN – The Giorgio Armani Group closed 2022 on an upward trajectory, and business momentum continued in the primary quarter. The designer touted the consistency of his strategies and his pride within the independence of the corporate, steadfastly protected through the years. Within the 12 months ended Dec. 31, revenues rose 16.5 percent to 2.35 billion euros compared with 2.02 billion euros in 2021. Sales including licenses exceeded 4.5 billion euros, while retail sales turnover is estimated to exceed 6.5 billion euros. The primary quarter trends for 2023 show net revenues increasing year-on-year by 18 percent over the identical period 2022, confirming the balanced growth across channels and the rise in operating profitability. “The medium-long term strategic path I even have chosen to...
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24 Apr

Valentino Reports Profitability, Sales Growth in 2022

Valentino Reports Profitability, Sales Growth in 2022
MILAN — A rebalancing of its retail and wholesale channels contributed to Valentino’s gains in revenues and profits last 12 months. Within the 12 months ended Dec. 31, sales on the Rome-based couture house reached 1.42 billion euros, climbing 15 percent compared with 1.23 billion euros in 2021. At constant exchange, revenues rose 10 percent. “After years of single-digit growth, we succeeded in going beyond,” said chief executive officer Jacopo Venturini proudly. He attributed this to a change in the corporate’s business model. Valentino reported 21 percent growth in its directly operated stores network, including e-commerce, while the wholesale channel registered a 6 percent decrease. “These results are fully in keeping with our strategy of rebalancing wholesale versus retail by increasingly reducing the wholesale activity...
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19 Dec

Medly Files for Bankruptcy, Reports More Than $110 Million

Medly Files for Bankruptcy, Reports More Than 0 Million
Digital pharmacy start-up Medly Health Inc., which launched in 2017, has voluntarily filed for a Chapter 11 bankruptcy in Delaware, following two large layoffs in August. The corporate reported greater than $110 million in secured debt.  The corporate gained popularity in the course of the COVID-19 pandemic as a substitute choice to pharmacies, offering free same-day prescription delivery, and was presupposed to be the fastest-growing digital pharmacy.  The brand secured $100 million in Series B funding in July 2020 with plans to proceed scaling the business.  In June 2021, Medly acquired Pharmaca, a primarily online wellness store that sells an array of brands like Jane Iredale, Juice Beauty, Vital Proteins and Olly. When this acquisition was revealed, it was said that Pharmaca had...
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