Iconic fashion designer Giorgio Armani passes away at the age of 91 in Italy.
Giorgio Armani, the Italian fashion great who passed away at the age of 91, will have his fashion empire managed by his closest family members and trusted partners in an organic transition aimed at preserving the brand's integrity.
The Armani Group, in a statement, announced the passing of its creator, founder, and tireless driving force. Giorgio Armani's fashion empire will be gradually managed by his nieces Silvana Armani and Roberta, his sister Rosanna and her son Andrea Camerana, as well as his longtime partner Leo Dell'Orco, who receives 40% of voting rights. The Armani Foundation will also control 30%, while Silvana and Andrea each hold 15%.
The statement from the Armani Group indicates that Giorgio Armani passed away peacefully, surrounded by his loved ones. His funeral will be held privately from September 6 to 7, with hours from 9 am to 6 pm.
Giorgio Armani was known for his relentless curiosity and deep attention to the present and to people. He established an open dialogue with the public, becoming a loved and respected figure for his ability to connect with everyone. He was indefatigable and worked till his final days, dedicating himself to the company, collections, and ongoing future projects.
In addition to his contributions to the fashion industry, Giorgio Armani was active on many fronts, especially in support of his beloved Milan. He was respectfully and admiringly called Signor Armani by his employees and collaborators.
No further information has been provided about who will inherit Giorgio Armani's multi-billion dollar empire or any potential company sale or IPO in the future. The funeral for Giorgio Armani will take place as scheduled on September 6 and 7.
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