Armani's succession: Who will lead the fashion empire?

Anticipation is high for the succession plans of Giorgio Armani, the Italian fashion designer and entrepreneur. While the details of his will are yet to be revealed, the company's articles of association offer a glimpse into the future of his empire. The designer, known for his discretion, creativity, and elegance, built a global brand with an estimated value between 11 and 13 billion euros. The Giorgio Armani group currently employs 8,700 people and recorded a turnover of 2.3 billion euros in 2024.

Succession plan and governance

The company's articles of association are designed to protect the business and its stylistic integrity after the founder's death. The succession plan involves several key figures, including Armani's nieces, Silvana and Roberta; his sister, Rosanna, and her son, Andrea Camerana. Also on the board of directors are Armani's right-hand man, Pantaleo Dell'Orco, and Federico Marchetti, the founder of Yoox.

The Armani Foundation, which holds a 0.1 percent stake in Giorgio Armani Spa, will play a central role in the transition. The articles of association, which were approved in 2016 and updated in 2023, outline a complex share structure with different voting rights. Shareholders with A-type shares will hold 30 percent of the capital and F-type shares will hold 10 percent. However, these two groups, despite holding only 40 percent of the capital, will control over 53 percent of the votes. This structure grants A shareholders the right to appoint three directors, including the chairman, while F shareholders can appoint two, including the chief executive officer, on an eight-member board.

Guiding principles

The articles of association also establish the founding principles that will guide the company's future operations. These include maintaining an "adequate level of investment," ensuring "balanced financial management," and prioritizing the "reinvestment of profits."

The principles emphasize a "cautious approach to acquisitions" and a focus on "diversification and segmentation" of brands while maintaining stylistic consistency. The company will also continue its commitment to "innovation, excellence, quality and refinement" of its products and prioritise the global development of the Armani name.

This article was translated to English using an AI tool.

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Giorgio Armani

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