Giorgio Armani, who passed away last week at the age of 91, shocked the fashion industry by giving his heirs instructions to sell the empire he had built over the course of his 50-year career piece by piece.
The “king of fashion” did not leave anything to chance in everything he did, from the broad company strategy to the models’ hair before a catwalk.
The specifics from his will are listed below.
PARTNER AND FOUNDATION TO MANAGE THE COMPANY
The designer made the decision that the Giorgio Armani Foundation, which he founded in 2016, would initially own 10% of the business directly, grant it 30% of the voting rights, and, in the event of the death of other owners, the right to their stakes.
