Giorgio Armani's Legacy: A Fashion Icon's Last Wishes Unveiled

The will of late Italian designer Giorgio Armani outlines a strategic transition for his fashion empire. Heirs are tasked with selling company stakes gradually or considering an IPO, prioritizing luxury giants like LVMH. This marks a significant shift for a brand deeply tied to its Italian roots.

Iconic fashion designer Giorgio Armani, who recently passed away at the age of 91, left a detailed will that outlines the future of his renowned fashion house. The company's heirs are now faced with the decision to either gradually sell stakes in the business or pursue a public listing.

In an unexpected move, Armani's will prioritizes potential sales to industry titans like LVMH, L'Oreal, and EssilorLuxottica, all listed in France. This marks a departure from Armani's long-standing refusal to dilute control over the brand he carefully cultivated over decades.

The will's stipulations, which include a mix of share types and voting rights, solidify the Fondazione Giorgio Armani and business partner Pantaleo Dell'Orco as key decision-makers. The fashion world now waits to see how this iconic brand will evolve under new leadership.

(With inputs from agencies.)