*At 91
Renowned fashion designer Giorgio Armani has died at the age of 91.
His fragile health had been a source of concern in recent weeks, forcing him to miss the latest fashion shows in Milan and Paris. The news was confirmed today, September 4, by his family.
Giorgio Armani was the cornerstone of his empire. Born on July 11, 1934, in Piacenza, Italy, he founded his company in 1974.
Thirty-seven years later, Forbes named him the most commercially successful Italian designer, estimating his fortune at $10 billion.
Although his first passion was photography, Armani studied Medicine for three years at the University of Milan.
He later began working at the department store La Rinascente as a window dresser. Between 1961 and 1970, he was a designer at Nino Cerruti before deciding to branch out on his own.
Just four years later, in 1975, he co-founded the Armani company with his business partner Sergio Galeotti, initially focusing on menswear.
A year later, with the arrival of his sister Rosanna to the company, Armani expanded into womenswear as well.
What Lies Ahead For The Armani Brand?
In an interview with the Financial Times supplement How To Spend It, Armani revealed his succession plan: “My succession plans consist of a gradual transition of the responsibilities, which I have always overseen, to those closest to me (…) such as Leo Dell’Orco, members of my family, and the entire team.”
He added, “I would like the succession to be organic, not a moment of rupture.”
The Italian designer remained the sole shareholder of the company he built with his late partner Galeotti.
PHOTO CAPTION: Armani.
