Until now, the Italian designer, soon to be 90, has refused to discuss the possibility of selling his group, or taking it public, but he now sees them as a possibility. However, he still prefers to hand over the reins of his group to his Foundation, made up of his close associates and nephews.
On the eve of his 90th birthday, which he will celebrate on July 11, Giorgio Armani is putting some water in his wine…
The designer, whose svelte, tanned figure makes him seem almost immortal, has announced that he is no longer ruling out selling his fashion empire or taking it public after his death. Although this is still not his preferred scenario. For years, the designer has staunchly defended his group’s independence.
In an interview with Bloomberg on Friday April 19, Giorgio Armani weighed up the pros and cons of the various options open to his group…
Nothing ruled out
“Independence from the big groups could still be a driving value for the Armani Group in the future, but I don’t think I can rule anything out“, he declared. But if, “for the time being”, he “doesn’t envisage a takeover by a major luxury conglomerate”, he also explains that he doesn’t want to “exclude anything a priori, as this would not be a very entrepreneurial behavior”.
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