Italian fashion designer Giorgio Armani, who recently celebrated his ninetieth birthday, is considering selling his company or listing it on the stock exchange once he steps down. While independence has always been a core value for the Armani Group, Armani acknowledges that he is open to exploring different possibilities in the future.
Armani believes that succession planning is crucial for the continuation of his legacy and has expressed his preference for a group of trusted individuals chosen by him to lead the company. He also commented that large luxury groups have been eyeing more historic Italian brands, but emphasized the importance of adaptability as a defining characteristic of Italians.
According to Forbes, Armani ranks 176th on the list of the world’s wealthiest individuals, with an estimated net worth of 11.2 billion dollars. In 2022, the Armani Group reported a significant increase in revenue, reaching 2.35 billion euros, with a boost in operating profit as well. The Foundation established by Armani plays a crucial role in shaping the future of the company and ensuring its continued success and evolution as an iconic fashion brand.