At the age of 91, one of the greatest fashion designers of recent decades - Giorgio Armani - died. The accumulated fortune during his lifetime amounts to 2.3 billion USD.
Armani has definitely thought about the fate of the empire he created during his lifetime. Some time ago, Армани Гроупр adopted new statutes, which come into force after the death of the fashion icon. It is a long-term management framework. It aims to preserve the brand's philosophy and ensure the company's independence. First of all, a “cautious approach to acquisitions“ is envisaged. This means that we will not witness infusions with giants such as LVMH or Kering. Secondly, the articles of association divide the share capital into several classes with unequal voting rights. It states that the company may be listed on the stock exchange at the earliest after 5 years, provided that the majority of directors agree. These two points alone show that in the coming years the company, at least in the medium term, will become “more closed“.
The latest data show the stability of the company. For 2024, Armani Group's net profit position amounts to 570 million EUR, which is rare for a company in the luxury segment. Half of the revenue comes from Europe, and the Asian and American markets form 20% of them. Investments are aimed at renovating the brand's two flagships – stores in New York and Milan and the construction of the new Palazzo Armani in Paris, as well as the internal management of e-commerce.
Who will take over? These will be Armani's closest people - his niece Silvana Arlani, who was previously responsible for the women's lines, and Leo Delm'Orco - a long-time collaborator and designer of the men's collections.