Giorgio Armani’s Legacy: Business Will and Fashion Empire

The world of fashion has lost one of its greatest icons. Giorgio Armani, the legendary Italian designer, passed away on September 4 at the age of 91. Known for his timeless style and influence in luxury fashion, Armani had always kept tight control of his fashion empire, avoiding outside offers from big companies that wanted to invest in or buy parts of his business. However, in a recent development, his final wishes, revealed in his business will, show how his empire will be managed after his death.

Distribution of Armani’s Business Empire

Giorgio Armani’s fashion empire is vast and includes some of the most recognizable brands in the world, such as Emporio Armani and Giorgio Armani collections. In his will, Armani made detailed instructions for how his business should be managed and who should inherit different parts of it.

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The will shows that Armani’s longtime collaborator, Leo Dell’Orco, who was the head of menswear, received a 40% controlling share of the company. This shows the trust Armani had in Dell’Orco to carry on his design philosophy and manage the company.

Two other key family members, his niece Silvana Armani, who heads womenswear, and his nephew Andrea Camerana, were each given a 15% share in the business. This ensures that the family will continue to play an important role in the fashion house.

The Armani Foundation, which Armani had established in 2016 to manage his succession and charitable work, will control the remaining 30% of the company.

In addition, his niece Roberta Armani, known for her work with Armani’s red-carpet clients, and his sister Rosanna were each given a 15% non-voting share. This means they have a stake in the company but do not participate in the day-to-day management decisions.

Minority Stake to Be Sold

One of the key points in Armani’s business will is the plan to sell a 15% minority stake in his fashion empire. The sale is not immediate; it must happen after at least one year but within 18 months after his death. Armani specified that the sale should give preference to major global companies like LVMH, Essilor-Luxottica (the eyewear giant), or L’Oreal, or another fashion group of similar standing. This move ensures that part of Armani’s empire could be integrated with global fashion and luxury leaders, potentially strengthening the brand’s international presence.

Personal Wealth and Investments

Armani’s will also sheds light on his vast personal fortune. Apart from his fashion empire, Armani owned a 2.5% stake in Essilor-Luxottica, the leading French-Italian eyewear company, valued at approximately 2.5 billion euros (around $2.93 billion). Armani’s will divides part of this wealth: 40% goes to Dell’Orco, and the remaining is shared among family members.

Additionally, his personal assets include luxurious homes in Milan, New York, the Sicilian island of Pantelleria, and St. Tropez on the French Riviera. These properties reflect Armani’s taste for elegance and refined living, in line with the image he cultivated throughout his life.

Armani’s Approach to Fashion

Giorgio Armani’s design philosophy was always about simplicity, elegance, and practicality. In his will, he emphasized that future collections should remain true to this style. He instructed that Armani collections must continue to focus on essential, modern, elegant, and understated designs with attention to detail and wearability. This ensures that even after his passing, the brand will remain faithful to his vision and continue to offer high-quality, stylish clothing that reflects the Armani identity.

Armani was a pioneer in ready-to-wear luxury fashion. Unlike some designers who focused on flamboyant couture, Armani made clothing that was practical, comfortable, and stylish at the same time. This approach helped him build one of the most successful and respected fashion empires in the world.

Armani’s Wills and Legal Arrangements

Italian media reported that Giorgio Armani deposited two wills with the Italian tax authorities. One will was for his business empire, and the other for his private property. Interestingly, both wills were rewritten by Armani last spring, partly handwritten on the back of a sepia-colored envelope, showing his hands-on approach even in his final days.

By organizing his business and personal assets in this way, Armani made sure that his legacy would continue smoothly and that the people he trusted most would guide his company and preserve his vision.

Upcoming Events to Honor Armani

The fashion world is preparing to celebrate Armani’s legacy. Later this month, during Milan Fashion Week, the final Emporio Armani and Giorgio Armani collections designed by Armani himself will be presented. This will be a special moment, marking the continuation of his work and giving fans and the industry a chance to pay tribute to his contributions.

In addition, a special exhibition at the Pinacoteca di Brera in Milan will commemorate the 50th anniversary of the Giorgio Armani fashion house. This exhibition is expected to attract fashion enthusiasts from around the world and showcase the evolution of Armani’s design philosophy over five decades.

Armani’s Unique Place in Fashion History

Giorgio Armani remained a unique figure in Italian fashion. Despite numerous offers from international fashion giants like LVMH, Gucci (now part of Kering), and even from prominent Italian families like the Agnellis, Armani kept control over his empire. His independence and focus on design rather than corporate expansion made him stand out among luxury fashion leaders.

His commitment to quality, simplicity, and elegance has influenced countless designers and continues to inspire the fashion world. By carefully outlining his succession plans and the future of his company, Armani ensured that his vision and values will continue long after his passing.

Giorgio Armani’s death marks the end of an era in fashion, but his detailed and thoughtful business will shows his commitment to ensuring the longevity of his empire. With family members and trusted collaborators taking leadership roles, a minority stake potentially sold to global luxury giants, and his design philosophy clearly outlined for the future, Armani’s legacy is set to continue.

The upcoming collections during Milan Fashion Week and the 50th-anniversary exhibition will allow the world to celebrate not just his fashion creations, but also the vision, discipline, and elegance that made Giorgio Armani a legend in the world of luxury fashion.

Through his foresight in both business and design, Armani’s influence will remain strong, inspiring designers, fashion lovers, and aspiring entrepreneurs for generations to come.