To accelerate development of the nascent line, Giorgio Armani co-established the joint venture company Presidio Holdings Ltd in 2005 alongside Como Holdings, the company owned by the Singaporean tycoon Ong Beng Seng that, since 1994, has held the production and distribution license for A/X Armani Exchange in the United States, Canada, Central and South America and Asia-Pacific.
Initially, the Italian company held 25% of Presidio Holdings, the remaining 75% in the hands of Como Holdings. In 2008, Giorgio Armani acquired an additional 25% stake. In 2014, it acquired the remaining 50% "ensuring full ownership of the brand, which has 270 stores and over 3,000 employees", the company said in a statement.
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