MILANO – Giorgio Armani talks about the future structure of the fashion group and says that “independence from large groups could still be a fundamental value for Armani in the future, but I don’t feel like ruling anything out. What has always characterized the success of my work is the ability to adapt to changing times.”
These are his words in an interview with the financial agency Bloombergthree months shy of his ninetieth birthday: the possibility is therefore not completely excluded that the group he founded could join some fashion giant such as the French LVMH and Kering, about which the entrepreneur had expressed reservations in the past, or even land on the stock exchange once he no longer he will be driving more.
“At the moment I don’t foresee an acquisition by a large luxury conglomerate, but as I said I don’t want to rule anything out a priori because it would be non-entrepreneurial behavior,” explained the designer. “Listing is not something we have discussed, but it is an option that could be considered, hopefully in the distant future,” he added.
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Armani, moreover, did not fail to reiterate his doubts about the large luxury groups, who “increasingly have historical brands in their sights”. On the one hand this can lead to growth, “but on the other it involves an inevitable change in values and a substantial upheaval, also for style”. “As regards succession, I believe that the best solution would be a group of trusted people close to me and chosen by me”, he further noted, referring to the role of the Armani Foundation and to people like Pantaleo Dell’Orco and his grandchildren Silvana and Roberta Armani and Andrea Camerana.
“The Foundation will decide and govern the future of the group because the people close to me are at the helm,” he remarked, clarifying that he does not foresee a single person taking his place at the head of the company: “I started alone with a small company and transformed it, piece by piece, into a group of international importance” but the modern fashion industry is “very different from when I started, so I imagine different coordinated functions for those who come after me”. “My hope – she concluded – is always that Italian fashion remains a symbol not only of image but also of industriousness and craftsmanship. If there is a characteristic that defines us as Italians, it is the ability to adapt”.
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– 2024-04-19 10:48:35
