Following the demise of Armani, the future direction of the fashion empire remains uncertain.
Giorgio Armani, the legendary fashion designer, passed away on Thursday at the age of 91. The news of his death has sent shockwaves through the fashion industry, leaving many wondering about the future of his multi-billion dollar empire.
Throughout his career, Armani consistently rejected all takeover offers, citing his desire for independence. He retained full control over his company until his death, both creatively and commercially. The corporation, which was initially based on fashion, later expanded to include accessories and hotels.
In his last interview with the Financial Times, Armani spoke about a gradual transition of his tasks to those closest to him. According to the fashion house, Armani's close associates, including his companion Leo Dell'Orco, his family members: his two nieces Roberta and Silvana, his sister Rosanna, and her son Andrea Camerana, are expected to lead the company together in an organic, gradual succession process. Armani never officially designated a successor during his lifetime.
Armani's health issues caused him to miss the major shows in Milan and Paris for the first time in June and July. Despite his reluctance to discuss the future of his fashion empire, it is expected that the succession plans will be clarified in the coming weeks, following the opening of his will.
The fashion house announced that Armani's coffin will be on display in Milan from Saturday. His funeral ceremony will be held privately. The article does not provide information on any immediate plans for the brand following Armani's death. Last year, Armani received persistent takeover offers from potential external investors, but no specific offers were mentioned or rejected in the article.
Giorgio Armani SpA was founded by Armani and his partner Sergio Galeotti in the mid-1970s. After Galeotti's early death in 1985, the company belonged solely to Armani. The success of the brand is a testament to Armani's vision and dedication, and his legacy will continue to inspire generations of designers to come.
