The Giorgio Armani fashion house will remain under the control of the Foundation named after the famous designer, who passed away on September 4th at the age of 91. This is what emerges from the reading of the will, which clarifies the instructions left by Armani regarding the future of his fashion empire.
The Giorgio Armani Foundation, which already held 0.1% of the company, will now acquire 100% of the fashion house's shares.
In particular, it is granted full ownership of 9.9% of the shares, corresponding to 30% of the voting rights.
For the remaining 90%, the Foundation will obtain bare ownership, while the usufruct right – and therefore the decision-making power – will be divided among three key figures in the designer's entourage.
Voting rights on the remaining capital will be exercised by Pantaleo Dell'Orco, Armani's longtime collaborator, and his grandchildren Silvana Armani and Andrea Camerana. Dell'Orco, specifically, will have usufruct on 30% of the shares and will hold 40% of the total voting rights.
The structure outlined in the will ensures continuity and stability for the company, keeping it firmly anchored to the values and vision that Giorgio Armani has built over a career spanning more than forty years.
The Foundation, founded in 2016 with the aim of preserving and promoting the designer's cultural and creative heritage, thus becomes the cornerstone of the brand's future.
(Unioneonline)
