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Giorgio Armani leaves his business to the Foundation, family and friends, but heirs must eventually sell a big stake

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Giorgio Armani leaves his business to the Foundation, family and friends, but heirs must eventually sell a big stake


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September 12, 2025

Giorgio Armani‘s will has been published and the complex document instructs his heirs to eventually sell control of the business to one of a trio of the biggest names in fashion and beauty.

The will instructs his heirs to sell a 15% stake in the Italian fashion house within 18 months and then transfer another 30%-54.9% to the same buyer between three and five years after his death. As an alternative, to this approach, Armani said his heirs should opt for an initial public offering.

So which are the three companies? Priority will be given to luxury giant LVMH, beauty behemoth L’Oréal, and eyewear giant EssilorLuxottica. But other groups could also be in the frame as the will tells the heirs to consider businesses with which Armani’s company has commercial ties.

Armani established his company in the 1970s with his late partner Sergio Galeotti and controlled it until the very end. With no children, the Giorgio Armani Foundation will essentially own the main fashion business, but the multi-billion-euro group actually passes to a variety of heirs.

They include the foundation, but also Armani’s partner and right-hand man Pantaleo dell’Orco, his three grandchildren and sister Rosanna. 

It’s a complex set-up and none of the parties has complete control with dell’Orco assigned 40% of the voting rights in the fashion company, the Foundation having 30% and family members holding the rest, although non-voting shares were assigned to his niece Roberta Armani and sister Rosanna Armani.

But as mentioned, the percentages will change within a maximum of 18 months as the heirs sell a stake to one of the three named companies or “to other companies or corporate groups identified by itself with the agreement of Leo [dell’Orco]”. 

Armani had wide business interests including a vast amount of property, a theatre, a basketball team, restaurants and much more. Aside from the main company, Rosanna Armani and nephews Andrea Camerana and Silvana Armani inherit other properties, with dell’Orco also recognised there. Armani’s almost-2% stake in EssilorLuxottica is also divided between dell’Orco and family members with smaller stakes left to his other collaborator and friend Michele Morselli plus Daniele Ballestrazzi, Giuseppe Marsocci, Laura Tadini and Luca Pastorelli.

Importantly, Armani also stipulated in his will that his company should be managed “in an ethical manner, with moral integrity and fairness”, that “the pursuit of an essential, modern, elegant and unostentatious style” is key, along with “attention to innovation, excellence, quality and product refinement.”

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US textile imports steady as Cambodia, Bangladesh gain market share

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US textile imports steady as Cambodia, Bangladesh gain market share



China retained its position as the largest supplier with a **.** per cent market share, followed by Vietnam at **.** per cent. However, China’s share continued to slide month after month, reflecting a structural shift in sourcing. American buyers are increasingly diversifying towards Southeast and South Asia to reduce tariff exposure, mitigate geopolitical risk, counter rising production and labour costs, and build more resilient supply chains.

During January–September ****, apparel imports—the dominant product category—rose by *.** per cent to $**.*** billion, compared with $**.*** billion in the corresponding period of ****. In contrast, non-apparel imports fell by *.** per cent to $**.*** billion, as slower housing activity, cautious consumer spending, and order rationalisation by retailers softened demand for home textiles, industrial textiles, and made-ups.



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Calvin Klein opens new global flagship store in New York’s SoHo

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Calvin Klein opens new global flagship store in New York’s SoHo



Calvin Klein, Inc., part of PVH Corp. [NYSE:PVH], announces the opening of the new Calvin Klein global flagship in New York City. The store re-establishes the brand in one of the world’s premier fashion capitals and follows flagship openings in Paris and Tokyo.

Located at 530 Broadway in the heart of SoHo, the 3,000+ square foot selling space reaffirms Calvin Klein’s commitment to creating premium lifestyle destinations that marry the brand’s distinctive minimalism with authentic local energy. The store’s design was inspired by New York City’s signature loft apartments, creating a modern, warm environment that evokes the creative legacy of downtown New York and provides an ideal backdrop for the essential denim, underwear and apparel synonymous with the brand – while reinforcing Calvin Klein’s deep roots in the city.

Calvin Klein has opened its new global flagship at 530 Broadway in New York’s SoHo, marking a major brand homecoming and reinforcing its global lifestyle positioning.
The loft-inspired space highlights denim, underwear, apparel and accessories, alongside campaign-driven displays.
A limited-edition Calvin Klein Soho capsule debuts now, with Calvin Klein Collection pieces arriving from Spring 2026.

David Savman, Global Brand President, Calvin Klein said, “We are proud to return to one of the world’s most fashionable cities – and the birthplace of our iconic brand – with an elevated retail expression. This new global flagship, located just steps from our landmark Houston Street billboard, is a tribute to Calvin Klein’s New York heritage. It represents both the evolution of our retail experience and a tangible expression of the world of Calvin Klein. Calvin Klein embodies a distinctive, global way of living that meets culture, and this store is the latest step on our journey of taking our brand to the next level.”

“New York is central to the DNA of the Calvin Klein brand,” said Stefan Larsson, CEO, PVH Corp. “This homecoming is a key milestone as we build Calvin Klein into one of the most desirable lifestyle brands in the world. Step by step, we’re deepening brand relevance, driving consumer engagement and strengthening brand positioning across North America and globally.”

The store showcases Calvin Klein’s lifestyle offering through curated spaces framed against the latest marketing campaigns. Denim and underwear anchor the experience, complemented by men’s and women’s apparel and accessories to round out the world of Calvin Klein. Key styles from Calvin Klein Collection, the pinnacle expression of the brand, will be available during designated times beginning in Spring 2026. As part of the opening, the store will house a limited-edition capsule featuring tees, fleece sweatshirts, hats and totes emblazoned with custom Calvin Klein Soho branding in navy, cobalt, grey and white colorways.

Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.

Fibre2Fashion News Desk (RM)



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US container imports drop 5.4% in November: Descartes

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US container imports drop 5.4% in November: Descartes




US container imports fell 5.4 per cent MoM to 2.18 million TEUs in November 2025, driven mainly by an 11.3 per cent decline from China.
Volumes were also 7.8 per cent lower YoY, though still the fourth-strongest November on record.
Southeast Asia posted solid growth, but China’s sharp contraction dominated, signalling a cautious year-end outlook amid trade and shipping uncertainty.



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