At 82, Giorgio Armani creates new succession plan


In order to ensure a smooth future for his fashion house, mogul Giorgio Armani intends to create a foundation to safeguard the 40-year-old business. Armani believes that in doing so, he will ensure that the house remains “consistent with some principles that are “particularly important to [him].”

The future of the iconic Italian fashion house has long been a mystery, as Armani still has full reign of the brand. As its sole shareholder, he remains deeply involved in the day-to-day operations of the business.

The new organization, the Giorgio Armani Foundation, aims to fund social projects while also ensuring that Armani’s legacy continues to live on.

“With this decision, taken in the name of continuity and secured by the foundation and my heirs, I would like most of all to bring reassurance to all the people of the Armani Group who work with loyalty and passion and who have always had faith in me, as well as to all those who over the years have contributed to the long-lasting success of this company and to whom I shall forever be sincerely grateful,” said Armani in a recent statement.

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