Giorgio Armani, who died Thursday at 91, leaves behind a lasting influence on fashion and a $12.1 billion business empire that changed the meaning of luxury. Armani began with one fashion house in Milan in 1975, but grew it into a global brand that shaped luxury living. As CEO and sole owner, he built more than a clothing line, he created a way of life.
While fashion remained at the heart of his wealth, Armani's business acumen led him into surprising territories. His portfolio included over 20 restaurants worldwide, luxury hotels in Dubai and Milan, and even ownership of the Italian basketball club Olimpia Milano.
The Armani brand stretched into every corner of luxury living, from perfumes and cosmetics to home furnishings, books, chocolates, and flowers. He owned a 200-foot yacht and maintained substantial real estate holdings across Europe.
Forbes' $12.1 billion valuation placed Armani among the world's wealthiest individuals, but perhaps more importantly, among its most influential. His minimalist aesthetic didn't just change fashion, it changed how we think about luxury itself.
Unlike many fashion moguls, Armani had meticulously planned his succession. In a recent Financial Times interview, he outlined a "gradual transition of responsibilities to those closest to me, including Leo Dell'Orco, members of my family, and the entire working team."
With no children of his own, Armani chose to entrust his empire to those who shared his vision rather than blood relatives, a decision that speaks to his belief in merit over inheritance.
The public will have the opportunity to pay their respects from Saturday, September 6, to Sunday, September 7, at the Armani/Teatro in Milan, while the private funeral will honor the designer's personal wishes for intimacy even in farewell.
