A a few months after his ninetieth birthday, the king of Italian fashion Giorgio Armani no longer rules out a sale or listing on the stock exchange once he is no longer in charge. The designer who in the past has always strongly defended the independence of his group declared in an interview published by the Bloomberg agency: “Independence from large groups could still be a driving value for the Armani Group in the future , but I don’t think I can rule anything out.” “For the moment I am not considering an acquisition by a large luxury conglomerate”, but the designer explained “I don’t even want to rule anything out a priori, because this would not be very entrepreneurial behaviour”. On the IPO issue, Armani therefore said that it is not an issue yet discussed but “the listing is an option that could be taken into consideration, hopefully, in the distant future”.
On the topic of the large luxury groups that in recent years have acquired many brands that are also symbols of Made in Italy, Armani noted that these have “more and more historic brands in their sights”. The purchase could “guarantee growth on the one hand, and on the other it entails a questioning of its succession”, Armani believes that “the best solution would be a group of trusted people who are close to me and who I have chosen”.
Giorgio Armani is 176th according to the ranking of the richest men in the world drawn up by Forbes, which estimates the value of his assets at a figure equal to 11.2 billion dollars. In 2022 the Armani Group recorded 2.35 billion euros, up 16.5%, and saw its operating profit (Ebit) increase by 30% to 202.5 million euros.
The designer who has no children also spoke about the leaders of his Group’s Foundation: Pantaleo Dell’Orco, who helped him for years in managing his company, but also his nieces Silvana and Roberta Armani and his nephew Andrea Camerana. “The Foundation will decide and govern the future of the Armani Group because the people closest to me are in charge.” Finally, the designer recalled the beginnings of his Maison which was a small company, transformed over time into the large international group it is today. “My hope – concluded Armani – is always that Italian fashion remains a symbol not only of image but also of industriousness and craftsmanship”. “If there is a characteristic that defines us as Italians, it is the ability to adapt” .