Although 90-year-old Giorgio Armani, whose health is now more fragile, has openly spoken of a smooth and collegial handover of his group to his close colleagues and sometimes relatives. But the owners of Chanel, Alain and Gérard Wertheimer, both in their seventies, are keeping the secret of their future succession. However, Bloomberg is betting that Arthur Heilbronn, the thirty-year-old son of their half-brother Charles, is the man of the future for the House on Rue Cambon.
Armani and Chanel: two luxury empires preparing for managerial succession, each in their own way.
On the Armani side, 91-year-old Giorgio Armani, ever the transalpine gentleman, openly revealed in an interview with the Financial Times’ business magazine supplement, How to Spend It, how he planned to pass on the giant group he co-founded in 1975 with his late partner, Sergio Galeotti. An empire of which he is still the sole shareholder, CEO, and creative director.
Health problems for Giorgio Armani
It is true that his advanced age, the fact that he “controls everything” in the group, by his own admission, but above all his recent health problems, have put the spotlight on this issue. Present without fail since his debut at every Armani fashion show, the eponymous designer had to call in sick for the last three, in June and July, in Paris and Milan. And so we wonder about his return at the end of September during Milan Fashion Week, which will mark the 50th anniversary of the House. Giorgio has thus preempted many questions.
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Featured photo: © Rothschild & Co – Giorgio Armani
