Fashion
Armani confirms the runway shows and exhibition during fashion week
By
Reuters
Translated by
Nazia BIBI KEENOO
Published
September 10, 2025
The Armani Group confirms the regular conduct of the Emporio Armani and Giorgio Armani fashion shows, which will present the latest collections designed by the designer on the runway. This was announced by the group. The public opening of the exhibition at the Pinacoteca di Brera, originally planned for Wednesday, September 24, remains unchanged.
The smooth running of the fashion shows and the opening of the exhibition, which Giorgio Armani worked on until the end, “testify to the company’s commitment to continue under the sign of dedication, respect, and attention to work, qualities that have always distinguished Mr. Armani and which he himself imparted to all his collaborators over the years.”
Meanwhile, anticipation is growing by the hour for the designer’s will. The timing is not yet defined, but according to available information, the window for reading the last will stretches from today until next Wednesday: any day could be the day.
Handling the procedure is Milanese notary Elena Terrenghi, tasked with initiating the succession process. A summarized abstract of the death certificate is required to open the succession — a document that usually takes up to 15 days to issue — but the timeframe could be shortened given the importance of the case and the interest involved.
Giorgio Armani, who passed away on September 4 at the age of 91, had no children or spouse, and in the absence of “necessary” legitimate heirs according to Italian law, was able to dispose of his estate independently. During his lifetime, the designer had already prepared and secured bylaws for the group, divided into six categories of shares, with a central role entrusted to the Armani Foundation.
The people called by the notary for the reading of the will, barring any surprises, will be his sister Rosanna Armani; his nieces Silvana and Roberta Armani, daughters of his late brother Sergio; and Andrea Camerana, Rosanna’s son. Also included is Leo Dell’Orco, Armani’s life partner and right-hand man. All five already sit on the Group’s board of directors, with Dell’Orco designated as the coordinator of the select committee that will steer the company until the new corporate structure takes effect. Camerana and the Armani cousins represent the family component of the board, alongside other key managers such as Yoox founder Federico Marchetti and Rothschild banker Irving Bellotti.
The bylaws, updated in 2023, provide for a division into six categories of shares, each with differentiated voting and governance rights, but equal economic rights. A shares (30% of the capital) and F shares (10%) will carry decisive weight: the former are worth 1.33 votes each, the latter 3. Thus, while holding only 40% of the capital, shareholders holding categories A and F will control more than 53% of the votes in the assembly and will be able to appoint a majority of the board of directors, including the chairman and CEO.
The Armani Foundation is most likely to be the recipient of the A and F shares, thus centralizing strategic control of the group. Heirs and trusted associates may receive categories B to E, which hold the majority of the capital but not decision-making power alone. In addition to the corporate share, the will is also expected to regulate the allocation of a personal estate estimated at about €10 billion, which includes valuable real estate such as a penthouse in New York, the historic villa in Forte dei Marmi, and the Capannina, acquired by the group in late August — just days before the fashion designer’s passing.
The Capannina itself was one of the places dearest to Armani, where he met the love of his life, Sergio Galeotti, who died prematurely at age 40 in 1985. Meanwhile, the fashion shows scheduled for fashion week in two weeks are confirmed, featuring Emporio Armani and Giorgio Armani, as well as an exhibition dedicated to the 50-year history of the maison at the Pinacoteca di Brera.
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Translated by
Nicola Mira
Published
December 12, 2025
On Thursday December 12, the Paris commercial court decided on the future of French premium ready-to-wear retailer IKKS. At the end of a receivership procedure involving several purchasing bids for IKKS, the court has approved the offer by Santiago Cucci, who was named president of the group’s holding company HoldIKKS last year, and Michaël Benabou, co-founder of event sales site Veepee.
The court’s decision has put an end to months of uncertainty for IKKS’s employees. According to figures drawn up by the receivers at the end of August, the group’s staff numbered 1,287 worldwide, 1,094 of them in France. At the time, the group had 473 stores between France and 11 other countries, plus headquarters in the town of Saint-Macaire-en-Mauges and offices in Paris.
IKKS gave a design make-over to its collections in summer, and in September it applied for receivership, after the group’s main shareholders, US investment funds Avenue Capital, CarVal Investors and Marathon Asset Management, expressed their wish to sell the company.
The IKKS group, which operates the eponymous brand as well as One Step and ICode, is still a leading international ready-to-wear retailer in the premium segment, operating several hundred retail outlets (between directly owned and franchised stores, and concessions) in nine countries. The path to new ownership has been complex, since the group was split in several entities, and none of the purchasing bids referred to the group as a whole.
The winning bid’s details
Cucci and Benabou have convinced the court after recently revising their bid upwards. Initially, the bid related to 141 stores, 88 of them directly owned, and 391 company employees.
The deal was clinched after the bid was extended to include 219 stores in France: 92 of them directly owned, 100 franchised, plus 27 Galeries Lafayette concessions. The employees associated to the directly owned stores are 546.
Benabou and Cucci, a former senior executive at Levi’s and a strategic advisor to G-Star, have taken over the IKKS business and are planning to operate a more streamlined store fleet. They will focus on womenswear and menswear, while childrenswear has been put on hold.
The dossiers given to prospective buyers indicated that the IKKS brand accounted for 80% of the group’s revenue, that 64% of its revenue was generated by womenswear, 21% by childrenswear, and 15% by menswear. When the company applied for receivership, direct retail accounted for 77% of revenue, e-commerce (both B2B and B2C) for 20%, and the remaining 3% was generated through the wholesale channel.
Rejected bids
The bid by sustainable fashion brand Faguo, which had been revised to include 15 stores and 30 jobs, was rejected. French group Beaumanoir (which owns womenswear brands Morgan and Caroll) had teamed up with Faguo, offering €1 million to buy the IKKS brand name and some of the stores.
Another rejected bid was put forward by Salih Halassi’s company Amoniss, a shareholder in Pimkie which recently acquired Christine Laure and Chevignon. It initially bid for a minimum of 168 stores and 393 employees.
BCRI Holding, which recently bought Café Coton, initially offered to buy 67 stores with a total of 426 employees. While AA Investments (owner of Smallable, L’Exception and Bonne Gueule) was interested in IKKS’s intangible assets. Verdoso, new owner of The Kooples, withdrew its bid before the November 28 hearing.
Since none of the bids related to the Icode and One Step brands, and to IKKS childrenswear, some of the latter’s stores in France have now closed. The new owners are therefore concentrating on the IKKS brand, out of a group fleet that had 550 stores as of the end of 2024, though streamlining measures started in H1 this year.
The brand’s employees are now hoping IKKS will be able to regain momentum as a recognised name in the premium ready-to-wear segment.
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A circular by the central bank said the policy update follows the decision reached at the 186th meeting of the Scrutiny Committee on Foreign Loan/Supplier’s Credit of the Bangladesh Investment Development Authority (BIDA). The aim is to facilitate industrial growth.
Bangladesh Bank recently announced that authorised dealers may now allow their industrial importers to import capital goods on a usance term of up to three years under supplier’s or buyer’s credit.
The aim is to facilitate industrial growth.
However, usance period for import of spares will not be more than 360 days in all cases, a circular by the central bank said.
”The usance tenure shall also be applicable to such imports by industrial enterprises operating in export processing zones or private export processing zones/economic zones/hi-tech parks and other areas designated as specialised zones by the government. However, usance period for import of spares will not be more than 360 days in all cases,” the circular added.
Fibre2Fashion News Desk (DS)
Spanish multinational clothing company, Inditex has delivered a strong operating performance in the first nine months of 2025 (9M 2025). Sales for the period rose 2.7 per cent to €28.2 billion (~$32.8 billion), or 6.2 per cent in constant currency, with both stores and online performing well. Gross profit increased 3.2 per cent to €16.8 billion, lifting gross margin to 59.7 per cent.
Inditex has posted strong 9M 2025 results, with sales up 2.7 per cent to €28.2 billion (~$32.8 billion) and gross margin at 59.7 per cent.
Profitability improved, with EBITDA at €8.3 billion (~$9.6 billion) and net income at €4.6 billion (~$5.3 billion).
Q3 saw sharper growth, early Q4 sales rose 10.6 per cent, and expansion plus new tech, including soft tags, continue to strengthen the business.
Operating expenses grew just 2.4 per cent, 29 basis points below sales growth. EBITDA reached €8.3 billion (~$9.6 billion), up 4.2 per cent, while EBIT rose 4.8 per cent to €5.9 billion. Net income grew 3.9 per cent to €4.6 billion (~$5.3 billion).
The Group said its fully integrated model, diversified footprint and agile sourcing approach remained key to execution. Inditex opened stores in 39 markets during the period, operating a total of 5,527 sites at the end of October. Inventory was 4.9 per cent higher year on year, which the company described as ‘high quality’.
In the third quarter (Q3) of 2025, momentum strengthened further. Sales advanced 4.9 per cent to €9.8 billion, or 8.4 per cent in constant currency. Gross profit increased 6.2 per cent to €6.1 billion, with gross margin expanding to 62.2 per cent, the group said in a financial release.
EBITDA rose 8.9 per cent to €3.2 billion, while EBIT climbed 11.2 per cent to €2.4 billion. Net income for the quarter increased 9 per cent to €1.8 billion. The Group ended the period with €11.3 billion in net cash.
Early fourth-quarter trading has been strong. Between November 1 and December 1, 2025, store and online sales in constant currency grew 10.6 per cent versus the same period in 2024.
Looking ahead, Inditex said its priority is to keep improving its fashion offer, strengthen customer experience and progress on sustainability. It highlighted the benefits of its flexible, proximity-based sourcing model and its diversified global presence across 214 markets. Gross margin for 2025 is expected to remain stable within a band of +/-50 basis points, while currency movements are forecast to have a -4 per cent impact on sales.
Investment plans remain substantial. Ordinary capital expenditure is estimated at €1.8 billion for the year, complemented by a two-year, €900-million-per-year logistics expansion programme for 2024–25. The Zaragoza II distribution centre is now operational, and Zara’s new 200,000m² building in Arteixo was inaugurated in October.
“Zara has launched in new locations for example in Las Vegas Forum Shops at Caesars Palace. This week, we will open a new store in, Charlotte North Carolina, as well as a Zara Man standalone store in Palazzo Verospi, Rome. Additionally, we have made important relocations and refurbishments in Osaka Shinsaibashi, Austin The Domain, Maastricht Grote Straat and Barcelona Diagonal. We continue introducing the new soft-tag technology in our stores with a significant improvement in customer experience. The new system is now fully operational in Zara and is being rolled out in Bershka and Pull&Bear,” the release added.
Fibre2Fashion News Desk (HU)
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