Italian fashion designer Giorgio Armani, who recently celebrated his ninetieth birthday, is considering the possibility of selling his company or listing it on the stock exchange once he steps down. While Armani has always been a proponent of maintaining the independence of his group, he recently acknowledged in an interview with Bloomberg that he cannot rule out any options for the future. He mentioned that independence from large conglomerates may still be a core value for the Armani Group, but he is open to exploring different possibilities.
Armani believes that succession planning is crucial to ensure the continuation of his legacy. He emphasizes the importance of having a group of trusted individuals chosen by him in charge of leading the company after he steps down. According to Forbes, Giorgio 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.
Reflecting on the humble beginnings of his fashion house, Armani expressed his hope that Italian fashion would continue to embody values of craftsmanship and industriousness. He emphasized the importance of adaptability as a defining characteristic of Italians, underscoring the potential for growth and innovation in the industry. Through his Foundation and trusted leadership team, Armani aims to ensure the continued success and evolution of his iconic fashion brand.
Giorgio Armani’s decision to consider selling his company or listing it on the stock exchange comes after years of maintaining its independence. While he remains committed to maintaining independence from large conglomerates, he acknowledges that there are other options available for him when he steps down from running it.
According to Forbes, Giorgio Armani ranks 176th on
