Giorgio Armani Foundation: Steering the Future of Iconic Fashion House

The Giorgio Armani Foundation is crucial for the future and planned sale of the famed Italian fashion brand. Led by Pantaleo Dell'Orco, it aims to preserve Armani's legacy while facilitating strategic ownership changes, including potential sales to luxury giants like LVMH and L'Oreal.

The Giorgio Armani Foundation, viewed as key to the future and eventual sale of the renowned fashion house, will be chaired by Pantaleo Dell'Orco, the late designer's long-time partner. Reuters obtained a document revealing Dell'Orco's leadership role, having inherited the largest share and voting rights after Armani's passing.

The foundation, central to Armani's succession plans, was unveiled in his will, outlining a gradual sale to buyers such as LVMH, L'Oreal, or a public listing option. Armani, known as "King Giorgio," left the company to heirs and the Foundation, which he created in 2016.

Controlling 30% of voting rights, the Foundation aims to secure Armani's legacy while Dell'Orco controls 40%. The board includes majority non-family members, tasked with unanimous decision-making on key governance and ownership issues, alongside potential sale agreements with renowned luxury companies.

(With inputs from agencies.)