Giorgio Armani was known for fiercely protecting his company from acquisitions and remained its only shareholder|Jan Schroeder|CC BY-SA 3.0
Legendary fashion designer Giorgio Armani has passed away at 91, his company announced on Thursday. The Italian billionaire was known for his iconic men’s and women’s suits.
A former medical student, Armani co-founded his brand in 1975 with partner Sergio Galeotti, transforming tailoring with his unstructured suits and sleek, understated designs.
His creations, worn by celebrities and business leaders alike, became global symbols of elegance. His suit designs for actor Richard Gere in the 1980 film American Gigolo put him on the Hollywood map, leading to decades of collaborations on more than 100 movies.
Beyond fashion, Armani expanded into restaurants, hotels, home furnishings, perfumes, accessories, and even owned a basketball team.
He was known for fiercely protecting his company from acquisitions and remained its only shareholder.
He expanded beyond luxury offerings with lower-priced Armani Exchange and Emporio Armani collections. The company reported a $2.7 billion revenue in 2023.
Armani’s personal fortune was estimated at $9 billion. Although he had no children, he established a foundation to preserve the independence of his business empire.
It was indicated that his niece, Silvana Armani, and longtime collaborator Leo Dell’Orco will take over the creative part of the global fashion house.