By Fasuyi Tolulope Samuel
Giorgio Armani, the iconic 90-year-old founder of the renowned luxury fashion brand, has revealed plans to step down from his role as head of the company within the next two to three years.
In an interview with the Italian newspaper Corriere della Sera, Armani spoke candidly about his retirement, admitting that extending his tenure further would have negative consequences for the business.
For years, the fashion designer has deflected inquiries about succession, but his advancing age has increased speculation about the future of his fashion empire.
Since establishing his company nearly 50 years ago, Armani has maintained complete control, becoming Italy’s most celebrated fashion figure. Despite his success, Armani has no children to inherit the business, leading to questions about who will succeed him.
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However, he assured that a detailed succession plan, referred to as a “structure, project, and protocol,” is in place, though he chose not to disclose further details.
Armani’s journey to fashion icon status was unexpected. Originally a medical student, he transitioned to a career in fashion after stints in the army and as a window dresser.
By 1975, he launched his eponymous brand, which soon became a favorite among Hollywood celebrities, earning him lasting fame and collaborations with stars like Richard Gere, Eric Clapton, and Lady Gaga.
Though Armani has faced increased interest from outside investors, he remains focused on preserving the company’s independence.
The likely heirs to his empire include his sister, three other family members who are part of the company, long-time collaborator Pantaleo Dell’Orco, and the Giorgio Armani Foundation. This philanthropic organization, which Armani founded, is also expected to play a significant role in ensuring the future continuity of the brand.
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