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Giorgio Armani

"From the elitism of luxury to the democracy of beauty."
- Giorgio Armani

His Vision:
Giorgio Armani's unique vision is one of timeless and natural elegance, where fashion, design, and quality provoke a confident state of being in all people.

"Eliminate the superfluous."
Modernist designer
Less is more
"Emphasize comfort without compromise."
"Acknowledge the elegance of simplicity."
The "comfort" model was best selling suit for 20 years.

How long does success take?
I have a 15 year head start.

First designer to be on the cover of time.
First designer to start the Hollywood Red Carpet Association

From lifestyle to lifetime.
Capture them as baby and carry them all the way to the red carpet in their later age

Richard Geare - From 1981 to present

Be true to yourself...and create a great team (family photo)

"Individual style is the correct balance of knowing who you are, what works fro you, and how to develop your own personality"

Authentic, Original, Unique, Heritage, Relevance, Simplicity, Innovation
moral of the story: The Importance of Individualism

They have collections/brands at every level of the market segment of the market, and they are all considered "Armani"

USA Apparel Market Segmentation:
(pyramid)
Couture (Prive)
Designer Sportswear (main line: Giorgio Armani, started 1975 in beginning)
Gold Range (women's primarily...second line of a designer line)
Bridge
Contemporary
Better
Mass

eye wear, watches, and fragrances

A Luxury, Democratic Lifestyle Fashion House
Luxury - everything has that sensibility in mind
Democratic - great fashion, luxury, great product for everybody (try to be least elitist luxury brand, full pyramid)

Needs:
Technology, Big Data, Analytics ("actuary is going to be the sexiest job.")

Design Marketing, Communication, Sales, Talent in the tech/big data/analytics

have your own stores, who are customers, when they buy, what they buy, where they went with what they bought, etc.
Maximize the amount of data you have on your customers, so you can run algorithms to analyze it

Consumer Experience:
Doesn't go to grocery store for an experience buying milk (haha)
It is experiential because it creates a personal relationship, not in terms of entertainment
Transgenerational Marketing (fascinated by this)
From prime physical space to prime virtual space
    Race there hasn't even started yet in his opinion
The importance of FUN

"You have to love and enjoy what you do...otherwise, get yourself another life."
- CEO

Products are created in the factory, brands are created in the mind
The importance of human creativity
Without original ideas, without visionaries, life would be less fun

What defines a luxury brand?
Time
Quality (fanatic about quality)
Consistency (in quality, and over time)
Timeless emotional fulfillment (story behind the gift of sight with Unite for Sight and SEE International)
Scarcity (Sikes wanted black fanny pack because there were only 4 left)
    note: doesn't like exclusivity because it means you are excluding people
    You need to be smart about your distribution and not be that approachable/availability
    Important to manage the scarcity of your time

The fact that you know you have a pair of Waveborns, even if you haven't worn them for six months, it stills provides emotional fulfillment.

Where would you see yourself?
Design - Creative, Materials, Samples
Production/Logistics - Manufacturing, Logistics, Shipping, Warehousing
Communications/Marketing - Public Relations, Media/Advertising, Digital, Events, VIP/Celebrities
Sales - Retail, Wholesale, e-commerce
Support - Information Systems, Finance, HR

In the fashion industry, it is a lot more GRIT than glamor.

"The difference between style and fashion is quality."
"Elegance is not about being noticed, it's about being remembered."
    Don't look at me, just remember me (haha)
"To create something exceptional, your mindset must be relentlessly focused on the smallest detail."
    In his late 70s and still works everyday 9am-6pm
"I believe that my clothes can give people a better image of themselves - that it can increase their feelings of confidence and happiness."
    This is a company/brand with purpose
    Things change every six months with a new collection
    We believe that by making people look better, they will feel better, and be better people
"It's all about good taste!!!"
- Mr. Giorgio Armani

Q&A:
Where is the growth coming?
Global
There are industries where they are underpenetrated
True lifestyle brand - opportunities are endless
    Restaurant, hotel, new store, etc

What are some of the brand characteristics that have carried the Armani brand?
The color gray
The jackets, deconstructed and recomposed them

Don't want to be an intimidating luxury brand - multigenerational is key theme he keeps coming back to

note: everyone wears "armani" but doesn't say the specific armani brand
lots of value in segmented price points for different demographics
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