Farewell to Giorgio Armani: Where will the 'huge' fortune of more than $12 billion go?

The fashion world has just lost one of its greatest giants. Giorgio Armani, the Italian designer who reshaped international fashion for nearly half a century, has died in Milan at the age of 91.

Starting from the Crossroads: From Medicine to Fashion

Giorgio Armani was born on July 11, 1934 in Piacenza, Emilia-Romagna, near Milan, Giorgio Armani had an unrelated start in fashion. Initially, he studied medicine and pharmacy at the University of Milan but quickly gave up because he could not find a passion. After that, he switched to photography and didn't stick around for long. The first turning point in his career was when he took a job as a window decorator at La Rinascente, a large department store in Milan, in 1957. Here, he began to be exposed to the world of fashion and gradually discovered his true passion.

From 1961 to 1970, Armani worked as a designer for the fashion house Nino Cerruti. After a decade of work, he decided to leave to become a freelance designer, taking on the challenge and charting his own path. In 1974, together with his close partner and colleague, Sergio Galeotti, he founded Giorgio Armani. The establishment of its own brand marked the birth of a legend, with the men's fashion line introduced in 1975, followed shortly thereafter by the women's fashion line. However, Galeotti, his co-founder and great inspiration, died of AIDS in 1985, leaving Armani with a huge void and responsibility to shoulder an entire empire.

The Suit Revolution and Agender Style

At the beginning of his career, Giorgio Armani saw rigidity and conservatism in traditional suit designs. He made a bold revolution by making suits softer and more liberal. He removed the hard lining, changed the position of the buttons, and lowered the shoulder bridge, bringing comfort and an elegant, gentle look to the wearer. This change applies not only to men's suits but also to women, breaking the traditional boundaries between men's and women's clothing.

His genderless, feminine and powerful style resonated with his first women's collection launched in 1975. The introduction of this collection was in tune with the spirit of the feminist movement of the time, when women were looking for a fashion style that showed confidence and power. Armani has cleverly breathed softness and flexibility into clothes that are associated with men, helping women feel strong while still retaining grace and elegance.

He is also famous for creating his own color called "greige" - a delicate blend of gray and beige. This color has not only become his signature but also a way for him to honor Milan, the city he has always called "gray". It was the harshness of his childhood, with the effects of the war and his father's imprisonment, that forged a Giorgio Armani who always longed for freedom and broke all restrictive rules, which was evident in his fashion style.

Influence reaches Hollywood and a multi-sector empire

In the 1980s, the love of cinema brought Giorgio Armani to Hollywood. He quickly realized the enormous influence that the film capital had and designed the costumes for the film American Gigolo (1980) with Richard Gere. The success of the film has made Armani the first choice of Hollywood stars. He has sewn outfits for countless Hollywood names, from movies to music, making his brand a symbol of luxury and class.

Not only stopping at high fashion, Giorgio Armani has expanded his empire into many other fields. In 1981, he founded the latter, Emporio Armani, aimed at a younger clientele. He then went on to expand into fields such as hotels, perfumes, eyewear, coffee, chocolate, jams, furniture, carpets, and even cars, creating a multi-sector corporation on a global scale.

With an estimated fortune of more than $12 billion by 2024, Giorgio Armani is ranked in the top 10 richest people in Italy by Forbes and the most successful designer in Italy. However, despite being a billionaire, he lives an extremely simple life in two attics in Milan. He is almost hidden, rarely appears in public and always keeps a familiar image with a navy blue cashmere sweater and casual flannel pants.

Cultural Symbols and Compassion

In his homeland, Giorgio Armani has a special position. He has designed uniforms for police officers and taxi drivers in Milan, an act that shows a deep connection to the community. He also has a strong relationship with sports. He owns the Olimpia Milano basketball team and designed the uniform for the Italian team at the 2021 Tokyo Olympics. He was also one of the first designers to ban models with a BMI below 18 after model Ana Carolina Reston died of anorexia.

When the COVID-19 pandemic broke out, which severely affected Italy, Giorgio Armani showed his compassion by donating around 2 million euros to hospitals in Milan, Rome and Bergamo. He also quickly transformed his factory to produce protective clothing for frontline doctors and nurses, a timely and meaningful act that demonstrated the responsibility of a great businessman to society.

The legacy and passing of a legend

For decades, Giorgio Armani has remained the creative soul of the brand. Even though he was in his late teens, he still worked hard. However, in the last years of his life, his health deteriorated. This past June, he was forced to be absent from Milan Fashion Week South, which had never happened in his career. Despite this, he was adamant not to retreat completely, and continued to work until the end, directing performances from afar.

Today, Armani employs approximately 8,700 people worldwide, more than 2,000 stores in prime locations, and dozens of manufacturing plants. When Giorgio Armani is gone, that legacy will be inherited and developed by his successors. The fashion world is waiting for the answer to the question: Who will continue to write the story of the Armani empire? Whoever succeeds him, the legacy left by Giorgio Armani will always be an endless source of inspiration, a symbol of elegance, creativity and a spirit of overcoming difficulties.

His passing on September 4, 2025 is not only a great loss for the Italian fashion industry, but also a loss for the whole world. He not only left behind a powerful empire, but also an inspiring philosophy of living and working, an indelible mark on fashion history. Giorgio Armani may be gone, but his spirit, elegance, beauty, and vision will live on in the timeless designs he created.

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