Italian designer Giorgio Armani and actress Sophia Loren in Milan. picture alliance/dpa/dpaweb | epa to Matteo Bazzi
Giorgio Armani is open to new avenues for his company, but is not ruling anything out. An IPO has not yet been discussed, but he believes it is an option in the distant future. The Italian fashion designer had fought for years to ensure that his company remained independent of large corporations.
The Italian fashion designer Giorgio Armani has shown himself surprisingly open to new directions for his company of the same name. “Independence from large corporations could continue to be a driving value for the Armani Group in the future, but I don’t think I can rule anything out,” the group boss said in a written interview with the Bloomberg news agency on Friday.
An IPO has not yet been discussed, he said. “But it’s an option that can hopefully be considered in the distant future.” He couldn’t imagine a takeover by a large luxury group at the moment, but he didn’t want to rule out any option from the outset.
The Italian luxury industry is deeply unsettled
The fashion designer had fought for years to ensure that his company did not become part of an international group. In three months the manager will celebrate his 90th birthday.
The Italian luxury industry is deeply uncertain about the future. Many other Italian companies are still independent and family-run, including Salvatore Ferragamo, Prada, Moncler and Ermenedilgo Zegna.
Other brands, such as Fendi or Bulgari, have been bought up by major French competitors LVMH and Kering in recent years.
dpa