To understand what will happen, we need to take a few steps back. The first that for years Armani has defined the future structure of Giorgio Armani with the establishment of a Foundation to which are added precise testamentary provisions not known but aimed at ensuring that his successors – the historic right-hand man Leo Dell’Orco, his sister Roberta, the grandchildren Andrea Camerana, Silvana and Roberta Armani – always find a common decision. If not, the Foundation will play a balancing role. Like all entrepreneurs who love their company, Armani has one thought above all: to preserve what he has built.
The second element to underline is that Armani has always been firmly convinced of the need to go it alone. Despite the many and continuous solicitations he never lent himself to the idea of being the leader of an Italian group, nor did he ever consider company size a fundamental issue. A few years ago there was talk of a possible agreement with Leonardo Del Vecchio’s Luxottica, an entrepreneur to whom Armani has been linked for years (he has always owned a stake in the company, which has now become EssilorLuxottica) and there was at least some reflection, and then ended up in the nothing. The last to urge the entrepreneur towards the establishment of an Italian pole was Giovanni Tamburi a year ago, the founder of Tip who already invests and brings together many family businesses.
So Armani is convinced he will be alone, at least until the end of last year: in December, in fact, Armani had declared to Courier service that I have always looked with suspicion at large groups, of which I understand their usefulness and purpose in an increasingly vast scenario. Therefore, the formation of an Italian pole is welcome, which I would honestly prefer led by an entrepreneur, or a consortium of entrepreneurs, but not nationalized. The private sector is ever faster, more flexible, more adaptable. He later developed the thinking by talking to the newspaper Mf, up to the declarations issued to Vogue. Nuanced words, but sufficient to restart the waltz of possible alliances. Armani said that remaining independent was no longer strictly necessary and that one could think of a connection with an important Italian company.
Which? The names of Remo Ruffini, who called himself a stranger, of Renzo Rosso who considers the hypothesis a dream but out of his reach, of Exor, who in turn said to be a stranger, have been mentioned. Regarding Exor, it should be emphasized that the Italian group that certainly has the resources to make an impressive operation such as the acquisition of Armani would be, as well as having a family connection, given that Armani’s nephew, Andrea Camerana, son of Rosanna Armani (sister di Giorgio) and Carlo Camerana of the Agnelli family, shareholder of Exor. Andrea spent a long time in the company alongside his uncle Giorgio and today he returned after a period of estrangement.
Naturally, the pandemic, which changed the playing cards of all the players in the sector, prompted the designer’s reflections. In speaking with Vogue, Armani has specified that he has not taken any decision and does not exclude the stock market either. Solution, the latter, which on paper could be the most suitable solution to give continuity to the group. Even this, however, is not spoken about now; as well as those who know society perplexed by the idea that something will happen in the short term. Giorgio Armani, despite being 86, is still fully active in the company and the author of all the decisions. Difficult to see him sharing the table with others.