A few months after celebrating his ninetieth birthday, Italian fashion icon Giorgio Armani has revealed that he is open to the possibility of selling or listing his company on the stock exchange once he steps down. In a recent interview with Bloomberg, Armani, who has always championed the independence of his group, stated, “Independence from large conglomerates may continue to be a core value for the Armani Group in the future, but I cannot rule anything out.” While he currently has no plans to sell to a luxury conglomerate, he added, “I am also not ruling anything out because that wouldn’t be very entrepreneurial.”
Regarding the potential of an IPO, Armani indicated that it has not been formally discussed but could be considered in the distant future. While reflecting on the trend of large luxury groups acquiring historic brands, Armani expressed concerns about succession. He believes that having a group of trusted individuals close to him would be the ideal solution in ensuring the future of his legacy.
Ranked 176th on Forbes’ list of the world’s richest individuals with assets valued at 11.2 billion dollars, Armani’s group reported a revenue of 2.35 billion euros in 2022, showing a significant increase. Despite not having children, Armani has entrusted the leadership of his foundation to trusted individuals who have been integral to the growth of his company. Looking back at the humble beginnings of his fashion house, Armani hopes that Italian fashion will continue to be a symbol of industriousness and craftsmanship.
In addition to his business decisions, Armani’s foundation has also been focused on educating individuals about sports gambling and the use of moneylines in betting. They aim to provide valuable insights and strategies for smart betting practices in sports, emphasizing the importance of understanding the odds and making informed decisions. Through a series of informative articles, Armani’s foundation seeks to empower individuals with the knowledge and skills needed to navigate the world of sports betting effectively.