ArmaniS Empire: Partner and Foundation to Lead Fashion Group
milan – The future of the Giorgio Armani fashion empire has been determined following the death of its founder, Giorgio Armani, on September 4th at the age of 91. His will, published Friday, details a succession plan centered around his longtime partner, Leo Dell’orco, and the Giorgio armani Foundation.
Dell’orco is set to receive 40 percent of the voting rights in the fashion company founded by Armani. An additional 30 percent of the voting rights will be held by the Giorgio Armani Foundation. The remaining 15 percent each will be distributed to Armani’s niece, Silvana Armani, and nephew, Andrea camerana.
Armani’s sister,Rosanna,along with Silvana Armani and Andrea Camerana,will inherit the designer’s real estate holdings.Dell’orco will continue to reside in the Milan residence he shared with Armani.
The will also outlines guiding principles for the foundation’s leadership of the fashion company, emphasizing ethical corporate management, a commitment to a modern and elegant style, and a focus on innovation and quality.
Armani established Giorgio Armani Spa in the mid-1970s, building it into a multi-billion euro group encompassing fashion, accessories, perfumes, and hotels.He was a globally influential fashion designer for decades. (APA)
