MILAN — Italian designer Giorgio Armani’s announcement that he is teaming up with South Korea’s Samsung Electronics Co. to develop a line of high-end electronics underscores how top fashion houses are stretching the boundaries of the luxury-goods industry as they search out new products they can brand with their own imprint.

Under the new alliance, Mr. Armani will design electronics ranging from handsets to liquid crystal display televisions, manufactured by Samsung, and distribute them through …

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