On September 4, it was announced that Italian designer Giorgio Armani passed away at the age of 91, leaving behind a multi-billion-dollar fashion empire and an inheritance that will be divided between the Giorgio Armani Foundation and his family members, reports Baltimore Chronicle with reference to 24 Kanal.
The Armani empire includes the brands Giorgio Armani, Emporio Armani, and Armani Exchange. In addition to fashion, the designer earned from a network of luxury hotels, exclusive restaurants, chocolate production, home and beauty products, and the floral division Armani/Fiori. In May 2025, Forbes estimated Armani’s fortune at $12.1 billion.
In 2016, Giorgio Armani established the Giorgio Armani Foundation, which will inherit a portion of the company’s controlling stake. The remaining shares will go to his closest family members. Several of Armani’s relatives already work in the company, including his nieces Roberta and Silvana, as well as his nephew Andrea Cameran, who serves on the board of directors.
Armani emphasized that succession in the business should happen gradually and organically, without abrupt changes in management. At the same time, the statute stipulates that heirs are not allowed to sell their shares to third parties, ensuring the brand’s integrity.
Earlier we wrote about who is Giorgio Armani: biography, success, and the influence on fashion and the Armani brand.