A Legacy Written in Two Wills

In a dramatic turn of events, iconic fashion designer Giorgio Armani, who passed away at the age of 91 on September 4, has revealed not one, but two wills. Made public on September 12, these documents chart a strategic future for his eponymous brand, managed by the Giorgio Armani Foundation.

Potent Partnerships on the Horizon

According to the wills, 15% of the Armani Group could potentially be sold within 12 to 18 months of the will's opening, targeting luxury heavyweights such as LVMH Moët Hennessy Louis Vuitton, EssilorLuxottica, or L’Oréal. Discussions about partnerships with these firms have circulated for years, yet no agreements have materialized—until now.

Key Players in Armani's Circle

Leading the charge is Pantaleo Dell’Orco, affectionately known as Leo, who oversees the men's division and holds 40% of the company's voting shares. Other significant family members include nephew Andrea Camerana and Roberta Armani, whose long-standing roles underscore the close-knit nature of Armani’s business.

A Solid Future with Ethical Guidelines

The foundation aims to ensure that Armani’s empire operates with "moral integrity" while focusing on global brand expansion. The strategy involves a meticulous approach to diversification and maintaining the timeless elegance associated with the Armani name.

Statements from Potential Buyers

EssilorLuxottica expressed pride in being considered by Armani: "We will carefully evaluate this evolutionary prospect, given our existing ties." Meanwhile, L’Oréal voiced their appreciation for the decades spent collaborating with Armani, indicating they would study this opportunity with the utmost respect.

Guiding Principles for Longevity

Armani's will delineates clear guidelines aimed at ensuring corporate continuity, cohesion, and financial stability long-term. Dell’Orco and family members will make short- to medium-term decisions, underpinned by Armani's vision for the brand's future.

The Foundation’s Pivotal Role

One of the foundation’s first tasks is to propose a new CEO, guiding the company in alignment with Armani’s principles. With this initiative, the intent is to uphold the integrity of the brand as transitions unfold.

An Entrepreneur's Commitment to Independence

Despite past refusals to sell or publicly list his brand, Armani's foundation represents a significant evolution in his approach to safeguarding the future of his work. Established amidst persistent rumors about potential alliances with luxury giants, the foundation symbolizes Armani's desire for independence and stability in his legacy.

As the world watches, the Giorgio Armani Foundation stands ready to navigate this new chapter, cultivating a future that carefully balances innovation with the timeless elegance of the Armani name.