Giorgio Armani, the 90-year-old chairman of the iconic luxury brand Armani Group, has announced his intention to retire within the next 2 to 3 years.
In an interview with Corriere della Sera on Sunday, Armani reflected on his changing lifestyle, stating, “I don’t sleep at night. I no longer know the deep, peaceful sleep of the past..” He added, “I can still give myself two or three years at the company’s helm. No more than that.” Armani also expressed a desire to step back from making definitive “yes” or “no” decisions at work.
Without children, Armani mentioned he has “built a kind of structure, a project, a protocol” for management succession, though he did not disclose specific details. A notarized document released last year indicates he has set guidelines regarding company management principles and job protection that his heirs must follow after his passing.
Initially studying medicine, Armani shifted his focus to fashion and began his career as a menswear designer under Nino Cerruti. In 1974, he opened a boutique under his name and subsequently expanded into women’s clothing, eyewear, watches, interior design, perfumes, and cosmetics, ultimately leading the Armani Group.
This year, he ranked 177th on Forbes’ list of the world’s wealthiest people, with an estimated net worth of $11.4 billion.
Amid the global luxury market restructuring, Armani has maintained independent management, even as major Italian luxury brands like Gucci, Prada, Bulgari, and Fendi were sold to French conglomerates Kering and LVMH.
Reflecting on his journey, he remarked that he felt a strong need to achieve his goals independently, driven by personal pride. Although external investment proposals to join his group have increased, he is not currently considering any of these options.
In the interview, Armani also shared his secret to longevity, stating, “I started seriously exercising at 50, every morning.” He explained that for the past 15 years, he has maintained a routine of working out twice daily—once in the morning and again before bedtime.
