In 2004,Giorgio Armani,the Italian fashion group,announced plans to launch a $1 billion international luxury hotel chain containing ten hotels and four resorts before the end of 2015.
-Refer to Giorgio Armani.Which of the following describes the taking advantage of an international trend toward luxury lifestyle consumerism and allowing the company to achieve its growth objectives?

Question

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Giorgio Armani's plan to launch a $1 billion international luxury hotel chain containing ten hotels and four resorts is an example of strategic planning. The company recognized an international trend toward luxury lifestyle consumerism and set a growth objective to enter the hospitality industry. This move aligns with the company's long-term goals and objectives and is intended to increase profitability and brand recognition.

In 2004,Giorgio Armani,the Italian Fashion Group,announced Plans to Launch a $1