Has the fate of Giorgio Armani been decided?
The rumor mill has been abuzz ever since Italian newswire Ansa reported that Giorgio Armani is planning to leave his company to a foundation upon retirement. However, a spokesperson for the company says no definitive decision has been reached.
As per WWD, Armani would still consider selling his company to a big conglomerate if the opportunity presented itself, but wouldn’t sell to private equity funds or private investors.
Earlier this month, Italian weekly magazine Il Mondo speculated that the designer would create a foundation and appoint members to a board that would be in charge of the house. Armani didn’t comment on the story until last week, when he told WWD that a foundation was “only one of the possibilities; there is nothing substantial there”.
Can’t wait to see what happens?