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Italian fashion designer Giorgio Armani has entrusted his multibillion-dollar company Giorgio Armani SpA to his foundation which has been instructed to sell a 15% stake within 18 months. According to Bloomberg the will citied on September 12 names potential buyers such as LVMH Moet Hennessy Louis Vuitton SE EssilorLuxottica or L’Oréal. Giorgio Armanis will details revealed As per the agency report Armanis will was disclosed on Friday revealing his last wishes. The designer through his will left his company to his foundation family members and longtime associate Leo Dell’Orco. The report also indicates that the strategy is to gradually bring the Armanis brand under the umbrella of a larger luxury conglomerate. Overseeing the shift will be Leo Dell’Orco his trusted partner often described by Armani his right hand. Under Giorgio Armanis leadership the company has maintained its independence and leadership. Yet concerns remained over revenue growth especially as the luxury goods industry witnessed the rising tariffs and a slowdown in market demand post-pandemic. The company was able to navigate the changes under Armanis leadership. A notable example was the launch of Acqua di Gio licensed to L’Oreal SA which went on to become a dominant force in the online market. Giorgio Armani death Giorgio Armani a renowned personality in Hollywood and fashion world passed away on 4 September 2025 at the age of 91. With infinite sorrow the Armani Group announces the passing of its creator founder and tireless driving force: Giorgio Armani said Giorgio Armani SpA announcing the designers demise. According to Forbes Armanis net worth was estimated at $11.8 billion (Rs 98300 crore) at the time of his death. The Italian designer had no children and left his entire company to his foundation which will be overseen by Leo DellOrco. Story Highlights Italian designer Giorgio Armani left his billion-dollar fashion company to his foundation family members and ‘right hand man’ Leo Dell’Orco. His will has directed to sell 15% of firms stake to LVMH EssilorLuxottica and L’Oréal within the next 18 months. Giorgio Armani passed away on Thursday 4 September 2025 at the age of 91.