The Giorgio Armani group increased its stake in Presidio Holding, which holds the license for the production and distribution of the brand A/X Armani Exchange, to 50 percent from 25 percent. The rest of the capital is owned by Como Holdings. Presidio Holding was created in 2005 to boost the brand's expansion. The shareholders said that the joint venture achieved the target set in its three-year business plan by increasing its sales from $298.5 million in 2005 to an estimated $520 million in 2008. Over the past three years, the brand opened 75 stores for a total of 165 in 24 countries at the end of 2008. Safilo is the eyewear licensee of the brand.