Core Points - Giorgio Armani, the iconic fashion designer, passed away at the age of 91, leaving behind a vast business empire and a legacy in the fashion industry [3] - The creative leadership of the brand will be handed over to Leo Dell'Orco and Silvana Armani, who will oversee various lines including Giorgio Armani, Emporio Armani, and Armani Exchange [8] Company Overview - Giorgio Armani S.p.a was founded in 1975 by Armani, who remained the sole shareholder and maintained control over the company's decisions until his death [2] - The brand has diversified its business beyond clothing to include hotels, home goods, cosmetics, and even food products, with over 20 restaurants opened since 1998 [2][6] - Armani's estimated net worth exceeds $10 billion, solidifying his position as a leader in the Italian luxury fashion market [6] Succession Planning - Armani had been reluctant to discuss succession due to not having children, but established a foundation in 2016 to oversee the company posthumously [7] - The succession plan includes a team of trusted individuals, with a recent revision allowing for the introduction of non-voting shares to attract financial investors while maintaining control [7] - Leo Dell'Orco, a long-time collaborator, and Silvana Armani are set to take over creative responsibilities, while another niece, Roberta Armani, has been involved in public relations for the brand [8]