Giorgio Armani will go, but the legacy will remain

Fashion icon Giorgio Armani recently announced his intention to leave the company within the next two to three years. This will mark the end of an era for the house he founded in 1975. At 90, the designer told Corriere Della Sera in an interview that it was time to pass the torch. Giorgio elegantly passes the buck.

“If you sell it, it’s no longer yours”, a motto that Giorgio Armani has made his own. And yet, he proudly recalls that he was one of the few founders to remain independent, while many brands have been bought up over time by large groups. He added that he had set up a framework to ensure that his legacy would continue, even after his departure.

A carefully considered decision

Armani explained that this decision also stems from his inability to sleep the way he used to. “I no longer enjoy the deep, restful sleep of my younger years,” he confided. In his dreams, he is still working on his future, but he feels that “more than two or three years at the head of the company would be a mistake”.

Despite numerous proposals from buyers interested in the brand, Armani remains cautious.“I don’t see any openings at the moment.” Last April, he told Bloomberg that he was not totally ruling out an IPO or partial participation by an outside entity. He acknowledges that such a move could be an entrepreneurial option, but for now, he prefers to preserve the integrity of his fashion house.

A growing luxury empire

The Armani brand, synonymous with luxury and refinement, continues to prosper. In 2023, it recorded growth of 4%, reaching sales of 24 billion euros, and even 45 billion if licenses are included. This success testifies to the vision and talent of the designer, who has been able to adapt to market trends while remaining true to his timeless style.

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