The future of the Giorgio Armani fashion house will follow a carefully structured path laid out by its late founder, who passed away recently at 91. According to his final instructions, the iconic Italian brand could transition to new ownership or pursue a stock market listing in the coming years.
The designer’s will outlines a phased approach to ownership transition, beginning with the sale of a 15% stake within the next 18 months. This initial divestment would be followed by a larger transaction three to five years later, involving between 30% and 54.9% of the company. The document indicates that an initial public offering remains an alternative option should a direct sale not materialize.
Specific luxury industry leaders have been identified as preferred potential acquirers, including LVMH, L’Oréal, and eyewear specialist EssilorLuxottica, though other established fashion houses with existing commercial relationships may also be considered.
The Fondazione Giorgio Armani, established in 2016 to preserve the designer’s legacy, will maintain permanent oversight regardless of ownership changes. The foundation is mandated to retain at least 30% of the company’s capital, ensuring continuity of the brand’s founding principles and values.
Current leadership has confirmed its commitment to executing these succession plans while focusing on appointing a new chief executive. Day-to-day operations and near-term strategic decisions will remain with the founder’s family and his longtime business partner, Leo Dell’Orco, with foundation support.
The fashion house, which generated €2.3 billion in revenue last year, has expanded significantly beyond its core fashion business to include hotels, restaurants, cosmetics, and other luxury offerings. The designer had previously emphasized his desire for an “organic” transition rather than a sudden break, ensuring stability for the company he built from scratch in the 1970s.
The succession plan reflects the founder’s careful consideration of how to preserve his legacy while ensuring the brand’s continued relevance in the global luxury market.
