MILAN — Giorgio Armani is rewarding fidelity.
The designer is appointing Izumi Sasano chief executive officer of Giorgio Armani Corporation, effective Dec. 1. He will be responsible for the United States, Canada, Mexico and Brazil.
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Sasano was previously CEO of Giorgio Armani Japan, a role he held for nearly two decades, and he will relocate to New York. He succeeds Gaetano Sciuto, who had joined Armani in January 2019 from his role as president of Fendi Americas. Last July, Sciuto was named CEO of Maison Margiela in Paris.
“The Armani Group is built on long-term relationships. Loyalty and competence are important to me, just as it is important to reward hard work and human qualities and to encourage growth within the group,” said Armani. “Izumi Sasano has excelled in Japan and the Pacific area, and I am sure he will continue to do so in this new, broader role, to which he will also bring a different cultural perspective. This type of exchange is fundamental for the constant progress and enrichment of the Armani Group, values that are at the core of my philosophy.”
Kazumasa Tsuchihashi will take on the role of CEO of Giorgio Armani Japan.
In his new position, Sasano will continue to report to Giuseppe Marsocci, deputy managing director and chief commercial officer of the Armani Group. The executives of Giorgio Armani Corporation and the general managers of Mexico and Brazil will report to Sasano.
After covering executive positions at Sony Corporation in Europe and at Chanel in Japan, Sasano joined the Armani Group in 2006, and was tasked with managing other countries in addition to Japan.
There are a total of 314 directly operated stores in the four markets under Sasano’s purview.
Last year, sales rose 19.5 percent in America.
As reported, in the 12 months ended Dec. 31, the Armani Group reported revenues of 2.35 billion euros, up 16.5 percent 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.
Armani, who turned 89 in July, holds the roles of chairman, chief executive officer and creative director of the company, and in May, commenting on the performance of his namesake company, he said: “In an increasingly difficult and competitive context, I am proud to have been able to maintain my independence and the stability of the group, also thanks to the work and commitment of my collaborators and employees.”
In 2022, pre-tax net profits amounted to 218 million euros, up 16.4 percent compared with 187.3 million euros in 2021. Compared to 2019, they rose 24.5 percent.
Among recent initiatives in the U.S., after a six-year absence, Emporio Armani returned to Manhattan’s SoHo neighborhood with a flagship that opened in July in the heart of the historic cast-iron district. The one-level flagship, located at 134 Spring Street, covers a total area of about 4,500 square feet. It’s housed in an early 20th-century building with an eye-catching trompe l’oeil eagle design on the side of the building. Emporio Armani in SoHo was originally opened in February 2000 at 410 West Broadway, but that store closed in January 2017.
Marking the second unit in New York, the 4,951-square-foot space is located at 536 Broadway, between Prince and Spring streets.
Most recently, the 260 Residences by Armani/Casa in Miami, in a 60-story oceanfront tower designed by architect César Pelli in Sunny Isles, have been completed and have sold out.
Armani is also redeveloping his four-level, 16,000-square-foot Madison Avenue store in Manhattan into a 96,000-square-foot building that will house a flagship and 19 luxury Armani/Casa residences, a project to be completed in 2025.
The group is advancing ahead of schedule toward the objectives set for 2025, when it will celebrate its 50th anniversary. As reported, the goal Armani set in 2021 was to return to pre-pandemic levels by 2022, with more than 4 billion euros in revenues that include licenses and more than 2 billion euros in directly consolidated revenues.
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