MILAN – Giorgio Armani‘s final collection was presented Sunday in a somber runway show at Milan Fashion Week, a tribute to the designer who died April 8 at age 89. The show,attended by celebrities including Richard Gere and model Lauren Hutton,marked the culmination of a 50-year legacy that transformed the fashion world and built a global empire valued at approximately 10 billion euros (nearly $12 billion) at the time of his passing.
The presentation occurred as the future of the Armani business enters a pivotal phase. Armani stipulated in his will that his heirs must sell an initial 15% stake in the company-encompassing the Giorgio Armani and Emporio Armani lines, as well as Armani Casa home décor and its hotel ventures-within 18 months of his death. The sale is intended to ensure the continued success of the brand, and Armani reportedly favored potential buyers with established expertise in fashion, including LVMH, L’Oreal, or EssilorLuxottica, in which he held a 2% stake.
Milan Fashion Week itself became a platform for honoring Armani’s influence, with smaller designers like Stella Jean and Francesca Liberatore acknowledging his impact on Italian fashion. The final collection showcased Armani’s signature understated elegance, a style that redefined power dressing and challenged traditional silhouettes.
The designer’s passing and the subsequent succession plan have critically important implications for the luxury market. The sale of a stake in Armani represents a rare chance for a major player to acquire a foothold in a highly coveted brand, and the outcome will shape the future direction of one of the industry’s most iconic houses. A correction was issued regarding the timeframe for the stake sale, confirming it is indeed within 18 months, not three years, of Armani’s death.