Core Viewpoint - The article discusses the life and legacy of Giorgio Armani, a renowned fashion designer who passed away at the age of 91, highlighting his significant contributions to the fashion industry and the future of his brand [2][4]. Group 1: Business Overview - Giorgio Armani founded his company in 1975 and remained the sole shareholder, expanding his business into various sectors including hotels, home goods, cosmetics, and even food products [4]. - Armani's estimated net worth exceeds $10 billion, making him a leading figure in Italian high fashion, often referred to as "Re Giorgio" [5]. - The brand has multiple sub-lines targeting different demographics, including Emporio Armani for younger audiences and Armani Exchange for trendy styles, showcasing a strategic brand matrix [5]. Group 2: Succession Planning - Armani did not have children and was reluctant to discuss succession plans, but established a foundation in 2016 to oversee the brand after his passing [6]. - He planned to transfer shares to his sister, three nephews, and a close team to prevent external takeovers, with recent adjustments allowing for non-voting shares to attract financial investors [6]. - Creative leadership is set to be passed to Leo Dell'Orco and his niece Silvana Armani, who will manage various lines of the brand [7]. Group 3: Future Implications - The future direction of the Armani brand is uncertain following his death, especially with a planned major event for the 50th anniversary of the main brand that may now take a backseat [7].