Armani's will: Fashion empire to be sold or go public in the next years

By&nbspEuronews&nbspwith&nbspAP

Published connected 12/09/2025 - 14:34 GMT+2 •Updated 14:58

After a life of spurning would-be business suitors, nan precocious Italian designer Giorgio Armani instructed his heirs to waste a 15% number liking successful his immense manner empire wrong 18 months, according to his business will posted online connected Friday by nan Italian regular La Repubblica.

He besides demanded that this liking should beryllium sold to either nan French conglomerate LVMH, nan eyewear elephantine Essilor-Luxottica, nan cosmetics institution L'Oréal, aliases different group of "equal standing".

Later, nan will said, an further 30% to 54.9% liking should spell to nan aforesaid purchaser betwixt 3 and 5 years aft Armani's death. If nan waste fails, nan group should activity to spell public, according to nan manner giant's last wish.

In his will, Armani gave power of 40% of his business empire to his longtime collaborator and caput of menswear, Pantaleo Dell'Orco, and different 15% each to niece Silvana Armani, nan caput of womenswear, and nephew Andrea Camerana.

The Armani Foundation, which he established successful 2016 arsenic a succession vehicle, will power nan remaining 30%.

The manner institution Giorgio Armani had a turnover of €2.3 cardinal past year, pinch much than 10,000 labor and hundreds of shops successful 60 countries.

Armani, 1 of nan astir recognisable names and faces successful Italian fashion, died connected 4 September astatine nan property of 91. Two wills, 1 for his business empire and nan different for his backstage property, were deposited pinch Italian taxation authorities connected Thursday, earlier it was wide reported by Italian media connected Friday.

The designer's property is estimated to beryllium worthy betwixt €11 and €13 billion. It includes villas, yachts, useful of art, holdings successful ample multinationals and his iconic company, which he founded 50 years ago. Armani had nary nonstop heirs.

Giorgio Armani and EssilorLuxottica

Armani besides held a 2.5% liking successful EssilorLuxottica, nan French-Italian multinational eyewear specialist, worthy astir €2.5 billion. 40% of nan shares went to Dell'Orco and 60% to family members.

EssilorLuxottica said successful a connection that it would see a imaginable deal, Reuters reported, citing a spokesperson: "Together pinch nan committee we'll cautiously measure specified a improvement imaginable fixed nan heavy ties already existing betwixt nan 2 groups."

Armani's properties

Giorgio Armani near 75% of L'Immobiliare Srl, nan institution that owns his villas successful Saint Tropez, Antigua, Broni and Pantelleria, to his sister Rosanna, and nephew Andrea Camerana and niece Silvana Armani.

The designer’s companion Dell'Orco will person nan correct to usage Armani’s Milan residence connected Via Borgonuovo for life. Armani has specifically indicated that nan paintings and furnishings successful nan location 'will not beryllium removed from wherever they are', pinch nan objection of a activity by Matisse and a photograph by Rayman, which are assigned to his sister Rosanna. The usage of 1 of Armani's New York homes was assigned to Michele Morselli, a friend of nan designer and managing head of 'L'Immobiliare Srl'.

The guidelines: basal style and civilized integrity

Armani besides intelligibly indicated what nan principles should beryllium for guiding nan company. These see managing nan institution "ethically, pinch civilized integrity and fairness" and "the pursuit of an essential, modern, elegant and unostentatious style".