The Armani Group has officially confirmed its upcoming fashion shows for Emporio Armani and Giorgio Armani, showcasing the latest collections designed by the illustrious designer. This announcement underscores the brand’s unwavering commitment to excellence in the fashion industry. The public opening of the exhibition at the Pinacoteca di Brera, initially set for Wednesday, September 24, remains steadfast and unchanged.
The seamless execution of these fashion events and the exhibition reflects the enduring values of dedication, respect, and meticulous attention that have characterized Giorgio Armani’s career. These principles have been instilled in all of his collaborators over the decades, symbolizing a legacy that continues to inspire.
As the anticipation builds surrounding the designer’s will, a timeline has been tentatively established for its reading. While the specific date remains uncertain, expectations indicate that the window for this significant event could span from today until next Wednesday; any day could potentially be pivotal.
Notary Elena Terrenghi, based in Milan, is overseeing the succession procedures. To initiate this process, a summarized abstract of the death certificate is required — a document that typically takes up to 15 days to be issued. However, given the high-profile nature of this situation, it’s possible that the timeframe may be expedited.
Giorgio Armani, who passed away on September 4 at the age of 91, left behind no children or spouse. This absence of immediate legitimate heirs under Italian law has allowed him to plan the disposition of his estate on his terms. Throughout his lifetime, Armani designed comprehensive bylaws for the group that divide its assets into six categories of shares, with the Armani Foundation projected to play a central role in governance.
The individuals called upon for the will’s reading, barring any unforeseen developments, include his sister Rosanna Armani and nieces Silvana and Roberta Armani, the daughters of his late brother Sergio, alongside Rosanna’s son Andrea Camerana. Additionally, Leo Dell’Orco, Armani’s longtime life partner and confidant, is included. All five are currently members of the Group’s board of directors, with Dell’Orco positioned as the coordinator of a select committee responsible for guiding the company until the new corporate structure is established. This board also comprises key executives like Yoox founder Federico Marchetti and Rothschild banker Irving Bellotti.
The bylaws, revised in 2023, stipulate a classification of shares into six categories that offer distinct voting and governance rights while ensuring equal economic entitlements. Categories A (30% of the capital) and F (10%) hold significant importance: shares in category A are assigned 1.33 votes each, while category F shares confer 3 votes. Consequently, even with ownership of only 40% of the capital, shareholders within categories A and F can dominate more than 53% of the voting power in board meetings, thus influencing the appointment of a majority of directors, including the chairman and CEO.
The Armani Foundation is likely to benefit most from the A and F shares, potentially consolidating strategic control over the group. Meanwhile, heirs and trusted associates might be allocated shares in categories B to E, which provide a greater economic stake but do not grant standalone decision-making authority. Besides corporate shares, the will is anticipated to elaborate on the division of a personal estate valued at approximately €10 billion, encompassing prized properties such as a luxurious penthouse in New York, a historic villa in Forte dei Marmi, and the Capannina — a beloved spot he acquired mere days before his passing.
The Capannina holds special sentimental value for Armani, as it was where he encountered the love of his life, Sergio Galeotti, who tragically passed away at the age of 40 in 1985. Despite the somber backdrop, fashion enthusiasts can look forward to the confirmed shows at the upcoming fashion week, featuring collections from both Emporio Armani and Giorgio Armani, along with an exhibition celebrating the 50-year history of the iconic maison at the Pinacoteca di Brera.
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