Armani's economic value goes beyond style

Armani's economic value goes well beyond its stagnating fashion business and potential bidders are likely to take a close look at sales generated by fragrances and frames sold under the late designer's name, industry sources and analysts say. The fashion house founded by Giorgio Armani 50 years ago reported revenue of 2.3 billion euros ($2.71 billion) last year, down 5 percent from a year earlier amid a global luxury slowdown and as a turn to casualwear reduces the appeal of its classic suits. But filings by the Italian company show that figure nearly doubles, to 4.25 billion euros, with the inclusion of sales from beauty and eyewear - made under licence since 1988 by L'Oreal and EssilorLuxottica respectively. Giorgio Armani's...