Brands
Armani names new board as succession process concludes smoothly
MILAN: Giorgio Armani Spa has formally completed its succession procedures and unveiled a newly appointed Board of Directors, marking a carefully managed leadership transition for the iconic fashion house. The shareholders’ meeting convened following the smooth and timely conclusion of the process, allowing the new board to be established exactly as envisioned by the late founder.
The refreshed eight-member board blends continuity with strategic expertise. Three members of the Armani family take their place alongside four independent directors with deep experience in global fashion and finance. The company’s operational reins remain with CEO and managing director Giuseppe Marsocci, the only executive on the board.
Pantaleo Dell’Orco has been confirmed as chairman, with Marsocci reaffirmed in his dual role. The full board now includes Silvana Armani, Andrea Camerana, Marco Bizzarri, John Hooks, Federico Marchetti and Angelo Moratti.
The board will steer the company in line with the founding principles created by Giorgio Armani and safeguarded by the Giorgio Armani Foundation, which will permanently retain at least 30 per cent ownership, regardless of future scenarios such as new investors or a potential listing.
The foundation’s members include Dell’Orco, Camerana, Irving Belotti, Elena Terrenghi and Andrea Silvestri.
Commenting on the new structure, Dell’Orco said the board brings together family representation, long-time collaborators of Mr Armani and seasoned independent professionals. He added that this combination offers the strongest foundation for carrying forward and evolving the founder’s vision of beauty, business and ethics, ensuring the brand remains well equipped for the challenges and opportunities ahead.
Brands
Eternal posts Rs 54,364 crore revenue, up 168 per cent in FY26
Q4 profit rises to Rs 174 crore as firm streamlines District business
NEW DELHI: Eternal Limited reported a sharp surge in scale for FY26, with consolidated revenue rising 168 per cent year-on-year to Rs 54,364 crore, underscoring strong growth across its core businesses.
The company’s growth was mirrored in its bottom line, with a total annual profit of Rs 366 crore. The fourth quarter was particularly strong, contributing Rs 17,292 crore in revenue and Rs 174 crore in profit, a sharp rise compared to the Rs 39 crore profit recorded in the same period last year.
Key financial metrics from the report include:
- Total assets: Increased to Rs 40,736 crore from last year’s Rs 35,623 crore.
- Delivery charges: The company collected Rs 9,065 crore in delivery and related charges over the year.
- Employee costs: Staffing and benefit expenses amounted to Rs 3,536 crore.
- Liquidity: The firm maintains a cash balance of Rs 996 crore, supported by Rs 632 crore generated from operating activities.
On the strategic front, the company has approved the transfer of its District platform’s technology stack to its wholly owned subsidiary, Wasteland Entertainment Private Limited. The deal, valued at Rs 24.19 crore, will be completed in cash and is expected to close by May 1, 2026, along with the transition of select employees. The move is aimed at consolidating its entertainment and ticketing operations under a focused entity.
From a regulatory standpoint, statutory auditors Deloitte Haskins & Sells issued an unmodified opinion on the financial results. However, they flagged an ongoing show cause notice related to GST on delivery charges, which the company continues to contest, citing a strong legal position.
With robust revenue growth and ongoing structural tweaks, Eternal is clearly sharpening its playbook as it expands beyond its core into a broader consumer services ecosystem.
