As he nears his 90th birthday, Italian fashion titan, Giorgio Armani, has indicated potential shifts in the future of his fashion empire, including the possibilities of a merger or an initial public offering (IPO).
In a conversation with Bloomberg, Armani did not rule out the possibility of his company merging with a larger competitor or going public.
Despite his long-standing efforts to maintain the independence of his company, Armani stated, “Independence from large groups could still be a driving value for the Armani Group in the future, but I don't feel I can rule anything out.”
Armani, who holds the majority of Giorgio Armani S.p.A., commonly known as Armani, and boasts a net worth of $6.6 billion, also hinted at a potential IPO.
“Listing is something we have not yet discussed, but it is an option that may be considered, hopefully in the distant future,” he added.
Known for his reluctance to discuss succession plans, Armani disclosed that the fate of his company would be determined by his heirs. He expressed a preference for entrusting his company to a group of trusted confidantes, including his nieces and nephew who currently serve on the company’s board.
Image by DELBO ANDREA via Shutterstock
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