The will of Giorgio Armani, who passed away on September 4 at the age of 91, has been opened in Milan, shedding light on how the famed designer planned the future of his global fashion house.
According to the document, Armani’s longtime partner and right-hand man, Leo Dell’Orco, inherits 40% of the voting rights within the company. His two nieces, Silvana and Andrea, will control 30%, while the remaining 30% is entrusted to the Armani Foundation, which the designer himself established.
In addition to the fashion house, Armani’s real estate assets have been divided among his sister Rosanna and his two nieces, in line with his wishes. These properties include residences in Milan, villas in Saint-Tropez, and a home on the Italian island of Pantelleria. Dell’Orco, however, retains the usufruct rights to these properties, including Armani’s residence in Milan.
The will also stipulates a significant condition for the brand’s future: within 18 months, heirs must sell 15% of the Armani fashion house to a major luxury group—specifically naming LVMH, Luxottica, or L’Oréal, or another company of equivalent stature. After three years, an additional 30% to 54.9% could also be sold to the same buyer, paving the way for a possible future change in ownership of the iconic Italian label.
Armani left clear guidance on the house’s values, calling for “ethical, incorruptible, and flawless management”, with an emphasis on modern and essential style, elegance, innovation, and quality—principles that shaped his life’s work.
