In what is believed to be the first such deal of its kind, Giorgio Armani is to supply free clobber to the entire presenting team of business broadcaster CNBC. The sums involved are relatively meagre - 11 talking heads, seven outfits each, ballpark figure of £1,000 per outfit- but both sides are certain it is a PR marriage made in heaven.
CNBC director of communications Charlotte Blenkinsop says that although there will be no on-screen branding - there will be paid-for space in lieu of the free clothing - 'we are communicating who our target viewers are: high-net-worth individuals who are watching in four and five-star hotel rooms.'
Armani himself is understandably chuffed with the coup of getting free airtime for his ads as well as endless PR exposure for his new clothing line: 'Through this new collaboration I am delighted to reach the viewers of CNBC Europe.' Bet you are.