Giorgio Armani SpA is preparing to appoint a new board as the Italian fashion house continues to restructure its leadership following the death of its founder, according to people familiar with the matter.
Since Giorgio Armani’s passing in September at the age of 91, his heirs — led by his long-time partner and company chairman, Leo Dell’Orco — have been working to ensure continuity across the group. Giuseppe Marsocci, a veteran of the firm with more than two decades of service, was appointed chief executive last month as part of the transition.
Dell’Orco, Marsocci and vice president Silvana Armani, who oversees women’s design, currently sit on the board. Other family members involved in the governance structure include Yoox founder Federico Marchetti, the founder’s sister Rosanna Armani, his nephew Andrea Nicola Camerana and his niece Roberta Armani, according to recent filings with the Milan Chamber of Commerce.
Industry observers are now closely watching for movement on the sale of an initial 15% stake in the company, as outlined in Giorgio Armani’s will. The document identified three preferred buyers: L’Oréal SA, which holds a long-term licence to produce the brand’s fragrance, makeup and skincare lines until 2050; eyewear partner EssilorLuxottica SA; and luxury conglomerate LVMH Moët Hennessy Louis Vuitton SE.
