Following the death of fashion legend Giorgio Armani, who kept his company fiercely independent, Fiona Jones explains what could come next for this luxury brand.

Milan

Giorgio Armani, who maintained sole control over his globally renowned fashion brand for more than five decades, has died at the age of 91. His passing leaves questions about the future direction of the company, which he kept fiercely independent and managed both creatively and administratively until his death.

Industry experts note that Armani's legacy and the brand's strong identity remain significant assets. Armani had no children but established a foundation and drafted new bylaws to ensure a smooth succession and ongoing independence. The foundation and other heirs are expected to play key roles, with further details anticipated when Armani's will is opened. The company may see multiple creative leads rather than a single visionary, reflecting the collaborative approach Armani fostered in recent years.

What's next for Armani's fashion empire?

Designer Giorgio Armani has left behind an enduring legacy in fashion and a world-established brand spanning over 50 years, but his death raises questions about the future of the Italian company he kept fiercely independent. Armani who died at 91 was the sole major shareholder of the company and he maintained a tight reign both creatively and managerially until the very end. Armani's combined flair and business acumen saw the company generate around $2.7 billion in annual turnover. While profits shrunk during a broader recession, industry experts say the global brand remains extremely attractive. WWD style director Alex Badia said this is because its identity remains so powerful. His legacy is so strong. His vision is so unique that I don't think they need a new designer phase. They just need to continue the brand, the legacy. Armani had no children but is survived by members of his family and long-term colleagues who worked closely beside him. Despite the brand's allure, experts say a deal in the mid-term would be unlikely. Armani drafted new company bylaws due to take effect upon his death. It outlines governing principles for beneficiaries including, quote, a cautious approach to acquisitions. More clarity on his plans may emerge in the coming weeks when Armani's will is opened. The designer set up a foundation in 2016 to guarantee smooth succession and the company's continued independence, which, he said a year later, would be run by three nominees he designated. He added after his death the foundation would get a larger share of the company alongside other heirs. Having voiced his desire for close colleagues and family to take over, roles that will need to be filled are chairman and CEO. Picking the right creative structure may be trickier, especially, said Badia, due to his high-concept approach to the brand. The idea that you not only wear Armani but you eat an Armani plate, you eat Armani chocolates, you sit in an Armani chair, it's a whole world. And then the fact that he opened even hotels that now seems to be the thing to do but he did it back then. He was the first. Armani had a collaborator on both his women's and men's collection and experts say that there could be multiple creative leads instead of one visionary.

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