Armani foundation
Print Edition
ITALIAN fashion designer Giorgio Armani recently said he would create a foundation in his name, for the first time shedding some light on succession plans for his fashion business.
Armani, who recently turned 82, founded the eponymous group in 1975 and is the sole shareholder.
Still actively involved in the business, he has never clearly indicated an heir or outlined future plans for his empire.
Armani said the foundation would “safeguard the governance of assets of the Armani Group and ensure that these are kept stable over time in respect of and consistent with some principles that are particularly important to me.”
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