Outlook Business Desk
Born in Piacenza, Italy, in 1934, Giorgio Armani, the legendary Italian fashion designer passed away at 91, the Armani Group confirmed. The Milan-based fashion house expressed its “infinite sorrow,” describing him as its founder, creator, and tireless driving force.
Giorgio started his journey in the late 1970s by transforming fashion with soft jackets, simple trousers, and a muted palette that placed Italian ready-to-wear on the global stage. For decades, his understated elegance shaped offices and Hollywood red carpets, defining a timeless style admired by stars and executives alike.
Within a decade, Giorgio Armani rose as the best-selling European designer in the US, cementing Milan’s status as a global fashion capital alongside Paris. His sharp tailoring defined Richard Gere’s American Gigolo look, dazzled Oscar red carpets, and shaped shows like Miami Vice and The Untouchables. He broadened his empire with Armani Jeans, Emporio Armani, and fragrances via L’Oréal.
Founded in 1975 in Milan (Italy), the Armani Group grew into a global luxury empire, valued at nearly $9 billion when Giorgio Armani passed away, as per Bloomberg .
In 2024, the Armani Group reported €2.3 billion in revenue, around $2.7 billion. Its portfolio stretched across couture, ready-to-wear, perfumes, accessories, hotels, and interiors, giving the Milan-based label one of the most diverse and influential footprints in the global luxury market.
Estimates of Armani’s fortune varied, with Bloomberg putting it at $9.4 billion and Forbes closer to $12 billion. His wealth came not only from fashion but also hotels, design ventures, and licensing. He frequently appeared among the world’s richest designers and stood out as one of Italy’s most affluent figures.
Beyond fashion, Giorgio Armani built a lifestyle empire. He owned bars, clubs, restaurants, and even a basketball team, EA7 Emporio Armani Milan, known as Olympia Milano. Since 1998, he launched over 20 restaurants worldwide and expanded into hospitality with hotels in Dubai (2009) and Milan (2010).
The 1980 film American Gigolo also became a turning point for both Giorgio Armani and actor Richard Gere. Gere’s sleek Armani wardrobe made him a Hollywood heartthrob, while “Georgeeo,” as the glamour crowd called him, rose as the industry’s most sought-after designer.
Armani never married and left no children, which often fuelled speculation about his successor. The responsibility is expected to pass to Pantaleo “Leo” Dell’Orco, his close collaborator for decades and head of menswear, widely seen as Armani’s trusted right-hand and the guardian of his creative legacy.