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🇬🇷 Greece /Economy & Trade

Armani enters a critical period as succession decisions loom

From Kathimerini · () Greek

Translated from Greek and summarized by DistantNews. Read the original for the full story.

At a glance

Analysis Named sources New plan
  • Giorgio Armani’s will required an initial sale of about 15% of the company 12 to 18 months after his death, followed by a larger sale or stock-market listing.
  • The company must preserve the brand’s identity while moving from a founder-led succession model to a more autonomous structure, an industry adviser said.
  • Armani sales fell 2.8% at constant exchange rates to 2.2 billion euros over the past year as luxury investors remained cautious.

A year after Giorgio Armani’s death, the Italian fashion house is entering a critical phase. The clock is now ticking on a planned sale of at least part of the company.

Armani, who died at the age of 91 on September 4, 2025, set out a timetable in his will. An initial stake of about 15% should be sold between 12 and 18 months after his death. A larger sale or a stock-market listing should follow, according to the document.

The immediate challenge for his heirs and advisers is not only ownership. They must also keep the brand fresh and relevant. Francesco Fiorese, a partner at consultancy Simon-Kucher, told Reuters that the company’s real test would be the transition from “a succession model based on Giorgio Armani’s legacy to a more autonomous system, capable of making its own decisions while preserving the brand’s identity.”

a succession model based on Giorgio Armani’s legacy to a more autonomous system, capable of making its own decisions while preserving the brand’s identity

· Francesco FioreseThe Simon-Kucher partner described the central challenge facing Armani after its founder’s death.

The pressure comes as the luxury sector faces a difficult environment. Armani’s sales fell 2.8% at constant exchange rates over the last year, to 2.2 billion euros. Investors remain cautious about luxury goods as the war in Iran continues and consumer spending in China declines.

Chief Executive Giuseppe Marzocchi, a group veteran now leading the company, said at an event in July that Armani would not pursue short-term fixes as it prepares a new business plan. He said the house would remain faithful to its founder’s long-term vision of meaningful, elegant style, close attention to detail and clothes that are easy to wear. Marzocchi described Armani as still being in transition and searching for a new balance.

A joint venture to develop new Armani Hotels & Resorts points to possible future strategic moves. Armani’s will named LVMH, EssilorLuxottica and L’Oréal, or another luxury group of similar standing, as potential buyers.

Armani will not pursue short-term fixes

· Giuseppe MarzocchiThe chief executive outlined the company’s approach as it prepares a new business plan.
About this summary

Originally published by Kathimerini in Greek. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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