Listen to the audio version of the article
Giorgio Armani does not feel like ruling out anything for the group’s future. After struggling for years to maintain independence amid the mergers and acquisitions that have reshaped the luxury sector, the designer is open to the possibility that his company could one day merge with a larger rival or go public. “Independence from large groups could still be a driving value for the Armani Group in the future, but I don’t feel like ruling anything out,” Armani said in a written response to a series of questions from Bloomberg.
«Adapting to the times»
«What has always characterized the success of my work is the ability to adapt to changing times», says Armani. This is a surprising change of tone for Armani, who has always reiterated his desire to maintain strict control of the group he founded.
Furthermore, future plans for the group have been a hot topic in the sector for some time. Milanese investment banks also fueled the rumors, designing countless scenarios for the company over the years and presenting proposals that never produced any agreement.
The options
But the designer now seems more open to the change, even if – he said – it will be up to his heirs to evaluate them: «At the moment I don’t foresee an acquisition by a large luxury conglomerate, but, as I have already said, I don’t want to rule anything out a priori, because it would be an ‘unentrepreneurial’ way of acting”.
Armani leaves the door open to a possible IPO of the group: «The listing on the stock exchange is something we have not yet discussed, but it is an option that could be taken into consideration, hopefully in the distant future».