Following the death of legendary Italian designer Giorgio Armani on September 4, 2025, at age 91, details of his will, made public on September 12, reveal a strategic vision for the future of his $11.8 billion fashion empire. Armani, who meticulously controlled his brand for over five decades, outlined plans for the Armani Foundation to sell a 15 percent stake to a major luxury conglomerate, naming LVMH, L’Oreal, or EssilorLuxottica as preferred buyers, though other reputable firms of similar stature are also eligible. The will, published by the Italian press, underscores Armani’s intent to secure the brand’s long-term stability while preserving its core values of innovation, elegance, and ethical integrity.

The Armani Foundation, which inherits the entirety of the company, will retain at least 30.1 percent of shares to maintain significant influence, even if a new shareholder acquires a majority stake within three to five years. Should no sale materialize, Armani directed the company to list on the stock market, with the foundation holding a minimum 30 percent stake to uphold the brand’s principles of “moral integrity, fairness, and understated style.” L’Oreal, a long-time partner in Armani’s perfume and cosmetics line since 1988, expressed honor at being considered and committed to evaluating the opportunity.

Armani, who had no children, entrusted the management of the foundation to Leo Dell’Orco, his closest confidant, alongside his niece Silvana Armani and nephew Andrea Camerana. The foundation holds 10 percent of the company’s shares and 30 percent of voting rights, with Dell’Orco allocated 40 percent and Silvana and Andrea each receiving 15 percent. Armani’s real estate holdings, including properties in Saint Tropez, St. Moritz, Antigua, and Pantelleria, were bequeathed to his sister Rosanna, niece, and nephew, though Dell’Orco retains usage rights to these assets.

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The will ensures strategic continuity, with Dell’Orco and the family overseeing short- and medium-term decisions, supported by the foundation. The executive committee of Giorgio Armani emphasized that any future partner must share the brand’s commitment to excellence and global development. Armani’s death, after months of fragile health, prompted tributes from fashion luminaries and public figures, though his funeral on September 8 was a private affair attended by close family and friends. His final collections will be showcased at Milan Fashion Week later this month, alongside an exhibition celebrating 50 years of the Armani brand, cementing his legacy as a titan of global fashion.

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