Giorgio Armani evaluates a future with an Italian group
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The statements of the Milanese designer inflame the insiders who draw up a list of possible candidates for a possible joint venture emblem of Made in Italy. There is talk of names like Remo Ruffini and Renzo Rosso but in pole position is Exor, the holding company of the Agnelli family, fresh from two fashion acquisitions
Giorgio Armani evaluates a future with an Italian group A portrait of Giorgio Armani
"One could think of the liaison with an important Italian company" and not necessarily a fashion company. Remaining independent is not "so strictly necessary". These are the words of Giorgio Armani himself in an interview with Vogue America that rekindle the spotlight on the future of the Milanese fashion house, which has always been a symbol of Made in Italy fashion and style. The designer also confirms that he planned to pass most of the business to his family, to people such as his three grandchildren Roberta and Silvana Armani, Andrea Camerana and Leo Dell’Orco, his historical lieutenant. The only thing missing is «who says yes or no. There is still no boss. " These are therefore additional details regarding that Armani thought that has always brought the world of fashion to a halt, keeping us in suspense but also underlining how the idea of tomorrow is a priority. A new piece, confirming that logical thread recently anticipated in an exclusive interview with MFF. How is the work on the Armani Foundation progressing? What will your role be in defining the future of the group? "It is a job that we do not advertise, but that I carry on with great enthusiasm because the future of the group is all there and I want to make sure it is continuous", explained Giorgio Armani himself (see MFF of 24 February).
An exclusive photo for MFF by Giorgio Armani Privè. Ph by Nadine Ottawa
"The stock market is not one of my plans for now", added the creative, "if an Italian luxury holding will ever be born? Individualism is in our DNA, and, in my opinion, that's okay. But in any case the times are very different than they used to be and you never know ». The seeds of reflection had been planted and it is interesting to see that parallelism that is naturally created between the designer's vision and Italian fashion in general: the choice of one anticipates the revolution, it almost becomes a trend for the other. Because something is actually happening on the horizon of the Italian fashion system and at this point the reflection on who could be a worthy accomplice for a possible joint venture under the tricolor flag begins. The insiders have already decreed some bets, starting from the latest operations. But in this case, size matters as Giorgio Armani's group is a real empire. If it is true that many Italian funds are in turmoil (see MFF of 23 March), some names in the squad would automatically exclude themselves due to a problem of size.
Remo Ruffini appears in the pool of eligible names and has just completed the Moncler-Stone Island operation, passing through Renzo Rosso and the recent acquisition with Jil Sander, creating his own polo shirt. But the real buzz has a four-lettered sound, Exor. The holding of the Agnelli family has in fact just won 24% of the Christian Louboutin brand, valuing it over 2 billion (see MFF of 9 March). It is his second fashion foray in a few months, after the transaction concluded in December by investing 80 million euros with Hermès in Shang Xia, a Chinese luxury label. Many in the financial community have started dreaming of a new Elkann-led Italian luxury hub. But sources close to the operation contacted at that time by MFF were quick to dampen the enthusiasm, arguing that it was only a good investment opportunity. What is certain is that Exor, which represents one of the major centers in Europe with majority shares in reality including Ferrari, Fiat Chryslerautomobiles, Cnh Industrial and Juventus, would seem a more than suitable name for resources and profile. Armani himself spoke of a group not necessarily a fashion company. Surely, if this operation ever takes place, it would sanction the birth of a new dynasty of Made in Italy.