Armani is known among the fashion industry as one of the top designer brands that says quality, excellence and feat. Even the logo, an eagle looking off to one direction, is designed to portray this strong image. Started in 1975 by Giorgio Armani the company has grown worldwide and provides for a timeless collection that includes luxury garments, apparel, jewelry, and other accessories. How did the company get started and what type of person buys these products?
Who is Giorgio Armani?
Giorgio was a window dresser in 1964 and with his increasing knowledge of fabric was taken in as a designer for men's clothing. In 1975 he moved on and began his own label in men's clothing and eventually made his way into womenswear.
By the 1990's he had over 200 stores and multiple lines including Emporio Armani, Armani Jeans, Armani Exchange, Armani Exchange A/X, and Armani Collezioni. Sales top $2 billion annually.
You can read his biography here.
Who Buys His Products?
Empario Armani is focused on the upper class and have reached at least a mid-level management with disposable income to spend. Armani patrons are challenge oriented and moving up in stature and position. They are innovators and strivers who want the image that goes with it. You can read in greater detail an audit of the brand here.
Those who buy Armani are a unique crowed. According to the Pew Research Center the wealthy feel they are more happy, financially secure, less stressed and enjoy their jobs more than others. To be wealthy most Americans believe it would take an income of at least $100,000 a year. The majority of respondents to their poll feel $150,0000 for a family of four is the average of wealth.
This same group is likely to be college educated and own their own homes. A market study helps us understand that the Upper Class often shop for specific brands and know a little more about the products than other classes. They have searched online and are looking for specific high end products they can wear in public that make them feel and look good.
For people who purchase this product, it is important to maintain status. The upscale image the product provides gives them a sense of achievement. They are young, fresh, and wealthy! Those who wear this brand often catch the eye of others who also seek to emulate the same successes in their lives.