Inside Giorgio Armani’s Rs 98300 crore empire: Italian designer leaves 15% stake in firm for…

Italian designer Giorgio Armani, who passed away on September 4 at 91, maintained firm control on the lavish empire he spent five decades building.

Italian fashion designer Giorgio Armani has entrusted his multibillion-dollar company, Giorgio Armani SpA, to his foundation, which has been instructed to sell a 15% stake within 18 months. According to Bloomberg, the will, citied on September 12, names potential buyers such as LVMH Moet Hennessy Louis Vuitton SE, EssilorLuxottica or L’Oréal.

Giorgio Armani’s will details revealed

As per the agency report, Armani’s will was disclosed on Friday, revealing his last wishes. The designer, through his will, left his company to his foundation, family members and longtime associate Leo Dell’Orco. The report also indicates that the strategy is to gradually bring the Armani’s brand under the umbrella of a larger luxury conglomerate. Overseeing the shift will be Leo Dell’Orco, his trusted partner, often described by Armani his “right hand.”

Under Giorgio Armani’s leadership, the company has maintained its independence and leadership. Yet, concerns remained over revenue growth, especially as the luxury goods industry witnessed the rising tariffs and a slowdown in market demand post-pandemic. The company was able to navigate the changes under Armani’s leadership. A notable example was the launch of Acqua di Gio, licensed to L’Oreal SA, which went on to become a dominant force in the online market.

Giorgio Armani death

Giorgio Armani, a renowned personality in Hollywood and fashion world, passed away on 4 September 2025, at the age of 91.

“With infinite sorrow, the Armani Group announces the passing of its creator, founder, and tireless driving force: Giorgio Armani,” said Giorgio Armani SpA, announcing the designer’s demise. According to Forbes, Armani’s net worth was estimated at $11.8 billion (Rs 98300 crore) at the time of his death.

The Italian designer had no children and left his entire company to his foundation, which will be overseen by Leo Dell’Orco.

Story Highlights

1. Italian designer Giorgio Armani left his billion-dollar fashion company to his foundation, family members and ‘right hand man’ Leo Dell’Orco.
2. His will has directed to sell 15% of firm’s stake to LVMH, EssilorLuxottica, and L’Oréal within the next 18 months.
3. Giorgio Armani passed away on Thursday, 4 September 2025, at the age of 91.