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    KER   FR0000121485

KERING

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Giorgio Armani could consider an Italian partner: magazine

04/07/2021 | 12:13pm EDT
FILE PHOTO: Italian designer Giorgio Armani appears at the end of his Haute Couture Spring/Summer 2016 fashion show for Giorgio Armani Prive in Paris

MILAN (Reuters) - Giorgio Armani may consider a joint venture with another Italian company, the founder of the Milanese fashion house told U.S. magazine Vogue, opening the door for the first time to a potential business partner.

In an interview published on the vogue.com website, Armani, 86, said the COVID-19 emergency had "made us open our eyes a bit."

Armani ruled out going the way of many other Italian luxury goods brands, including Gucci, Fendi and Bulgari, which have been bought by industry giants LVMH and Kering SA, saying a French buyer was not on the cards.

However, he said his long-held idea that the company should remain independent was no longer "so strictly necessary."

"One could think of a liaison with an important Italian company," he said without elaborating, except to add that it did not have to be a fashion company.

Vogue also quoted Armani's niece Roberta Armani, who works at the family's company, as saying "it could be great, finally, to have an important Made in Italy joint venture in the fashion industry" though she added she had no insight on her uncle's plans.

(Reporting by Valentina Za; editing by Jonathan Oatis)


© Reuters 2021
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Financials
Sales 2021 15 467 M 18 633 M 18 633 M
Net income 2021 2 746 M 3 308 M 3 308 M
Net Debt 2021 5 444 M 6 558 M 6 558 M
P/E ratio 2021 29,1x
Yield 2021 1,57%
Capitalization 79 865 M 96 073 M 96 215 M
EV / Sales 2021 5,52x
EV / Sales 2022 4,96x
Nbr of Employees 38 553
Free-Float 58,5%
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 632,10 €
Last Close Price 640,20 €
Spread / Highest target 13,2%
Spread / Average Target -1,26%
Spread / Lowest Target -33,1%
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Managers and Directors
NameTitle
François Jean Henri Pinault Chairman & Chief Executive Officer
Jean-Marc Duplaix Chief Financial Officer
Yseulys Costes Independent Director
Daniela Riccardi Independent Director
Sophie L'Hélias Lead Independent Director
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