Armani taps BCG to shape long-term growth strategy

Giorgio Armani SpA has enlisted Boston Consulting Group (BCG) to identify growth strategies in several key luxury market segments.

The company aims to expand its presence in the hospitality sector and the luxury handbag business, which currently account for only a small share of the fashion house's revenue, CE Report quotes ANSA.

According to Bloomberg, Armani is also working with several advisers on a long-term business plan following the death of its founder, Giorgio Armani.

The fashion house confirmed that work on the new business plan is underway but declined to comment on Boston Consulting Group's role.

Bloomberg reported that the plan includes a review of Armani's pricing strategy and distribution model. The report also noted that, starting in September, the group is expected to evaluate the sale of a 15% stake, in line with provisions outlined in Giorgio Armani's will.

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