IN REVIEW: Fashion Icon Giorgio Armani, Dead at 91, Instructs Heirs to Sell Stakes in his Empire

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Born: July 11, 1934

Location: Piacenza, Italy.

Deceased: September 4, 2025

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Giorgio Armani, the iconic Italian designer who turned the concept of understated elegance into a multibillion-dollar fashion empire, died Thursday, his fashion house confirmed. He was 91.

Armani died at home, “peacefully, surrounded by his loved ones,” the fashion house said. “Indefatigable to the end, he worked until his final days, dedicating himself to the company, the collections and the many ongoing and future projects.”

Armani, one of the most recognizable names and faces in the global fashion industry, missed Milan Fashion Week in June 2025 for the first time during the previews of Spring-Summer 2026 menswear to recover from an undisclosed condition.

He was planning a major event to celebrate 50 years of his signature Giorgio Armani fashion house during Milan Fashion Week this month.

The designer also owned several bars, clubs, restaurants and his own basketball team, Olympia Milano. Armani opened more than 20 restaurants from Milan to Tokyo since 1998, and two hotels, one in Dubai in 2009 and another in Milan, in 2010.

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LEGACY:

After a lifetime of spurning would-be business suitors, the late Italian designer Giorgio Armani instructed his heirs to sell an initial 15% minority stake in his vast fashion empire, with priority to the French conglomerate LVMH, the eyewear giant Essilor-Luxottica or the cosmetics company L’Oreal.

Armani gave control of 40% of his business empire to his longtime collaborator and head of menswear Leo Dell’Orco, and another 15% each to niece Silvana Armani, the head of womenswear, and nephew Andrea Camerana.

The Armani Foundation, which he established in 2016 as a succession vehicle, will control the remaining 30%.

Armani, one of the most recognizable names and faces in Italian fashion, died on Sept. 4 at the age of 91. Two wills, one for his business empire and the other for his private property, were deposited with Italian tax authorities on Thursday, and widely reported by Italian media on Friday.

*Text sourced from AP