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When Giorgio Armani’s death was announced on 4 September, tributes from those who knew the man himself — and those who admired his work from afar — flooded in. Alongside these odes to one of the most impactful designers of the 20th century came discussions about what the founder’s death means for the brand.
Armani and his team had kept mostly quiet on succession plans. But in what would be his last interview, Armani spoke about the transition for the Financial Times. One name came up outside of those related to him. “My plans for succession consist of a gradual transition of the responsibilities that I have always handled to those closest to me, such as Leo Dell’Orco, the members of my family and the entire working team,” he said. “I would like the succession to be organic and not a moment of rupture.”
Dell’Orco, head of the men’s style office for all collections, who has been at Armani for 45 years, was the one who bowed at the two menswear shows Armani missed in Milan in June, as well as July’s Armani Privé couture show, while Armani was recovering from illness. It was the first time he’d ever missed a show (though, he insisted, he was present via video for every step of prep).
Dell’Orco, 72, has been at the company since 1977, soon after the company’s 1975 founding. He was born in Bisceglie, in Bari, Italy, and first met the late designer in a park in Milan as a young man. Dell’Orco worked closely with Armani designing collections for many years, but 2021 was the first time that he walked out alongside Armani after the menswear show in Milan, which Vogue Runway’s Luke Leitch described as an “unusual move” at the time. After the show, Armani told Leitch of Dell’Orco: “He’s been with me for 60 [actually more like 40] years, so maybe finally he’s matured! We often clash, but the results, I think, are very good. And we have Silvana [Armani, his niece] in womenswear. So I am preparing my future, with the people who are around me, in my home.”
Other key figures expected to play a role in the company’s succession include Armani’s nieces Silvana Armani (mentioned above), who worked alongside Armani to design the women’s collections and Roberta Armani (who manages celebrity and entertainment relations), as well as nephew Andrea Camerana (Armani’s sustainability managing director).
Some insiders expect that Dell’Orco and Silvana Armani will head up menswear and womenswear, respectively. Others anticipate that Dell’Orco will assume the creative director role, as Armani singled out his name in his last interview. Details of Armani’s succession plan — including who will step into the CEO role — are expected to emerge once the designer’s will is read.
“Based on Giorgio Armani’s last interview, it is widely expected that Leo Dell’Orco will assume responsibility for creative direction. CEO and chairman responsibilities are likely to be divided among family members and foundation trustees, ensuring continuity,” says Bryce Quillin, economist and co-founder of luxury strategy agency It’s A Working Title LLC. “I do not expect that there will be any big surprises.”
The Armani empire is in a unique position as one of the few fashion companies still owned by its founder. At the time of death, Mr Armani had a 99.9 per cent holding in the company as sole shareholder, and held the roles of both CEO and chairman, as well as creative director. While Italian rivals like Gucci and Fendi sold to French conglomerates in the late 1990s and early 2000s as conglomerates snapped up formerly family-run businesses in the name of growth, Armani remained steadfast in maintaining his company’s independence. This leaves a large question mark in regards to what the death of the founder means for the brand moving forward.
In a release on Thursday, the company said: “Giorgio Armani always made independence of thought and action his hallmark. The company is, now and always, a reflection of this spirit. His family and employees will carry the group forward in respect and continuity of these values.”
“We, the employees and the family members who have always worked alongside Mr Armani, commit to protecting what he built and to carrying his company forward in his memory, with respect, responsibility, and love,” Armani’s employees and family added in a statement. The company confirmed they had nothing further to add at this time.
Armani founded the Giorgio Armani Foundation in 2016 with the goal of protecting the company’s future. The foundation holds the remaining 0.1 per cent share in the company. At founding, Armani said that the purpose was to “safeguard the governance of assets of the Armani Group and ensure that these are kept stable over time in respect of and consistent with some principles that are particularly important to me”.
“The foundation is, in a sense, a formal set of rules to bind the decisions of those who will take over the Armani empire so that it retains the independent status so fiercely guarded by Giorgio Armani,” Quillin says. “It was designed to preserve Armani’s independence and long-term vision. Among other things, its bylaws include protections against takeovers and a clause preventing a public listing for five years after Armani’s death.”
It’s a reflection of Armani’s meticulous control, even in death. As he told the Financial Times, “My greatest weakness is that I am in control of everything.” The late designer made sure to control the near- and medium-term succession of the Armani empire, ensuring his legacy lives on as he wished, via those he trusted the most.
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