Giorgio Armani's will reveals his fashion empire's future
Giorgio Armani, the legendary designer, has left a detailed plan for what happens next with his fashion empire.
His will asks his chosen heirs to gradually sell off company shares—starting with 15% in the first 18 months, then another 30% to 54.9% over the next three to five years.
Priority should be given to selling mainly to top luxury brands like LVMH, L'Oreal, or EssilorLuxottica. If that doesn't work out, going public with an IPO is also on the table.
The designer didn't have children, so he picked trusted heirs
Armani didn't have children, so he picked trusted heirs to handle this transition and protect his legacy.
Even though profits dipped recently (the company still reported revenues of $2.7 billion in 2024), his will stresses teaming up with big industry players and staying connected in the luxury world—so the brand can keep thriving through whatever economic ups and downs come its way.