Giorgio Armani to open unique flagship store in Hong King as part of ongoing global retail expansion programme

HONG KONG, 3rd September 2001 -- The Armani Group today announced plans for the opening of a unique worldwide flagship store in Hong Kong at 11 Chater Road in Fall 2002. For the first time anywhere in the world Giorgio Armani has decided to locate the Giorgio Armani, Emporio Armani and Armani Jeans product lifestyles under one roof in a three level store covering 29,000 square feet.

Mr. Giorgio Armani, President and Chief Executive Officer of the Armani Group, said: "There is always a point of difference, a unique perspective and a conceit in a new Armani retail concept. Ever since 1981, when I opened my first store in Milan based on the notion of "democratic fashion", I have always sought to provide an environment where women and men can discover an accessible style in which vitality, good taste and entertainment are all combined with a distinctive Armani touch. Following the success we have had in Milan with our Via Manzoni mega-store, where a number of our brands are housed under one roof, when the space at 11 Chater Road became available it seemed a perfect location to evolve this concept further."

The Armani store will take full advantage of the location of the 11 Chater Road development at the intersection of Chater Road and Pedder Street, with the façade of the Giorgio Armani boutique opening out onto Chater Road and the façade of the Emporio Armani store connecting with the busy pedestrian bridges leading into the Central District. The Giorgio Armani women's and men's apparel collections will be situated on the ground floor. On the first floor customers will find both the Giorgio Armani and Emporio Armani Accessories collections and, for the first time in Hong Kong, the recently launched Giorgio Armani Cosmetics line and flower shop. The second floor will offer both the Emporio Armani and Armani Jeans collections for women and men and an Emporio Armani Caffe.

Following recent openings of new or re-designed Giorgio Armani boutiques in Paris, Milan, Chicago and Sao Paolo, Giorgio Armani has again chosen to collaborate with Claudio Silvestrin on the architectural design of the Giorgio Armani boutique at 11 Chater Road. St. Maximin stone, which has become a signature of Claudio Silvestrin's designs for Giorgio Armani will also be a key element in the new Hong Kong store. Silvestrin is also currently collaborating with Giorgio Armani on the expansion and refurbishment of his flagship store in Seoul re-opening later this month and on a new boutique in Moscow opening in October, 2001. For the Emporio Armani, Armani Jeans and Emporio Armani Caffe areas of the 11 Chater Road development, Giorgio Armani has selected architect Massimiliano Fuksas in what will be a first time collaboration.

The Armani Group is one of the leading fashion lifestyle groups in the world today. It designs, manufactures, distributes and retails fashion and lifestyle products, including apparel, accessories, eyewear, watches, home interior products, and fragrances and cosmetics under a range of lifestyle brand names: Giorgio Armani, Armani Collezioni, Mani, Emporio Armani, Armani Jeans, Armani Junior, A/X Armani Exchange and Armani Casa. The Group's free standing retail network currently comprises 48 Giorgio Armani boutiques, one Giorgio Armani accessories store, eight Armani Collezioni stores, 120 Emporio Armani stores, 60 A/X Armani Exchange stores, seven Armani Jeans stores, three Armani Junior stores and three Armani Casa store in 34 countries.

Contact:

Maria Lai Communications Manager, Giorgio Armani Hong Kong Ltd. Tel: 2506-2018, Fax: 2506-2013

For further information about the company, please visit www.armanipress.com

Computer Rendering of 11 Chater Road - Retail Podium Facade facing Chater Road in Central
Armani Group, one of the leading fashion lifestyle groups in the world today, will locate the Giorgio Armani, Emporio Armani and Armani Jeans product lifestyles under one roof in a three level store covering 29,000 square feet.