Giorgio Armani's eyewear business booked a 10 percent decline in sales in 2008 to about €201 million. The drop narrowed to 8 percent at constant exchange rates. Last year, the business represented 8 percent of the group's wholesale revenues, including licensed products, which totaled €2.517 billion. In 2007, eyewear represented 9 percent of Giorgio Armani's wholesale revenues. Safilo holds the eyewear licenses for the group's brands A/X Armani Exchange, Emporio Armani and Giorgio Armani.