Giorgio Armani’s Legacy: A New Chapter Unfolds With Potential Sale or IPO
For 50 years, Giorgio Armani fiercely upheld the independence of his iconic brand, but in the wake of his passing, his will introduces an intriguing prospect: the possibility of gradually selling a stake in the Giorgio Armani Group or even pursuing an IPO if a fitting buyer doesn’t emerge, as reported by Reuters.
Since founding his namesake brand in 1975, Armani has woven a tale of artistic integrity, shunning potential buyers and steadfastly refusing to go public to preserve his vision and create a lasting legacy in luxury fashion. In 2016, he solidified this legacy by establishing the Giorgio Armani Foundation, which aims to protect the governance and stability of the Armani Group's assets over time. Initially holding less than a 1% stake in the company, the foundation now enjoys a significant 30% share and voting rights—a powerful influence in this next chapter. The reins of the foundation have been handed to Dell’Orco, its current chairman. This Season, Boardroom Skirt Suits Are Transforming the Way We Perceive Power and Professionalism in the Workplace.
“The will designates that all short- to medium-term strategic decisions rest with Mr. Dell’Orco and the family, guided by the foundation; importantly, these choices were influenced by Mr. Armani himself, reflecting the brand’s mission and any potential actions affecting the group’s future structure,” stated the Giorgio Armani executive committee. “This direction opens the door to the possibility of a stock market listing and the pursuit of a minority partner who truly values the brand’s legacy. Ultimately, all decisions and management will remain under the stewardship of Mr. Dell’Orco and the family, with the foundation's guiding principles rooted in Mr. Armani’s vision.” Indian Couturier Rahul Mishra Has Designed a Special Diwali Edition Featuring a Blue Label.
Candidates in the Spotlight
Buzz in the fashion world suggests that LVMH chairman Bernard Arnault has long eyed the Armani brand, yet concrete moves have yet to materialize. With LVMH's fashion and leather goods holdings soaring to $48 billion in 2024, compared to the Armani Group’s $2.7 billion in sales last year, the potential partnership makes sense. LVMH's decentralized approach to its 70 luxury brands aligns perfectly with maintaining Armani's artistic independence. Furthermore, analyst Mario Ortelli highlights the untapped potential in the accessories market, where LVMH could help Armani expand its influence.
On the beauty front, L’Oréal has been a steadfast partner of Armani, though its focus remains solely in the beauty sector. In contrast, eyewear giant EssilorLuxottica, another long-term collaborator, has ventured into the fashion realm, acquiring the streetwear label Supreme for $1.5 billion last year, alongside its ownership of brands like Oakley and Costa.
As the heirs to the Armani legacy weigh their options—whether to opt for a sale or an IPO—they also face the crucial task of appointing a suitable CEO to guide the brand forward. Currently, no CEO has been named, but eyes are on two strong contenders: longtime employees Giuseppe Marsocci and Daniele Ballestrazzi, both recently promoted to deputy general managers. Marsocci handles sales and marketing, while Ballestrazzi is at the helm of finance and operations, poised to take the lead in this exciting transitional phase.
As the Giorgio Armani Group looks to the future, one thing is clear: a new era is on the horizon, filled with possibilities and new beginnings.
(The above story first appeared on LatestLY on Sep 15, 2025 12:22 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).