Armani admits future without him will mean loss of independence for his company
In a recent interview with Italian media, Giorgio Armani said: “In any case I won’t be there,” he said, admitting that, without him at the helm, it might be difficult for his company to remain the independent, private structure it is now. “Independence is a beautiful thing. You can choose everything from the light you have in your office to the kind of fashion you make. “But independence also means having the means to preserve your independence. As long as I am alive, I think, independence will be there. After, immediately after, perhaps we will prepare the ground for a more modified, more controlled independence. “But it will depend on what fashion is at that time and the position we find ourselves in.”
“My ego would say of course nobody would ever work like Armani,” before conceding: “There are talents about.” ”Things have changed so much. A new designer must be creative and supported by a commercial organization. Otherwise it is too tough.”
Given the sheer size of his company and the global economic context, it is hard to imagine any potential suitor to acquire the Armani Group, except for the beauty giant L’Oreal which controls all the beauty licenses of Armani, accounting for over 30% of the group turnover. This includes: fragrances, make-up and cosmetics.