
Giorgio Armani is making allusions to significant changes that may occur to his Italian fashion empire after he steps down, three months before his 90th birthday. The millionaire design genius says he won’t rule out his company ever merging with a larger rival or going public on an exchange, despite having fought for years to maintain Giorgio Armani SpA independent amid the mergers and acquisitions that completely changed the luxury market.
“Independence from large groups could still be a driving value for the Armani Group in the future, but I don’t feel I can rule anything out,” Armani said in a recent interview. “What has always characterized the success of my work is an ability to adapt to changing times.”
The fashion industry has long been abuzz with talk about Armani’s future plans. Armani rarely conducts interviews and has been coy about addressing succession. Investment bankers from Milan have also added fuel to the fire, creating a plethora of scenarios for the company throughout the years and making proposals that have never resulted in a sale.
Additionally, Armani is now open to the possibility of an eventual initial public offering. According to the Bloomberg Billionaires Index, Armani, who owns almost all of Giorgio Armani SpA, is worth US $ 6.6 billion.
In the Italian luxury market, where many businesses are still independently owned and operated by families, future uncertainty is a typical occurrence. According to Bloomberg experts, Giorgio Armani may be acquired for between € 8 and € 10 billion in the event of an acquisition or demerger.