Giorgio Armani, the renowned Italian fashion designer who recently celebrated his ninetieth birthday, is considering selling his company or listing it on the stock exchange once he steps down. While independence has always been a core value for the Armani Group, Armani acknowledges that he is open to exploring different possibilities.
In an interview with Bloomberg, Armani expressed that large luxury groups have been eyeing more historic brands. However, he emphasized the importance of succession planning and believes that a group of trusted individuals chosen by him would be the ideal solution to ensure the continuation of his legacy.
Giorgio Armani ranks 176th on the list of the world’s wealthiest individuals, with an estimated net worth of 11.2 billion dollars. In 2022, the Armani Group reported a significant increase in revenue, reaching 2.35 billion euros, with a boost in operating profit as well. Despite not having children, Armani has indicated that the leaders of his Group’s Foundation would play a crucial role in shaping the future of the company and emphasizing the importance of having trusted individuals close to him.
Armani reflects on the humble beginnings of his fashion house and hopes that Italian fashion will continue to embody values of craftsmanship and industriousness. He underscores adaptability as a defining characteristic of Italians and highlights potential for growth and innovation in the industry through his Foundation and trusted leadership team.
In conclusion, Giorgio Armani remains committed to preserving his legacy while considering all options for the future of his iconic fashion brand.