Close  
  • share this

Giorgio says Armani to stay independent

/ 05:31 PM October 20, 2018

Giorgio Armani. INQUIRER file photo.

Italian fashion house Armani will stay independent, its founder and designer Giorgio Armani in an interview published Friday on business website Milano Finanza.

“I have always believed that economic independence was the fundamental principle to work in full freedom,” said Armani.

ADVERTISEMENT

The 84-year-old giant of Italian fashion said he had been approached about selling many times “but the answer is always the same”.

A number of Italy’s major luxury brands have been sold to foreign outfits in the past couple of decades, including Gucci and Fendi. The latest one is Versace, which was sold to U.S. group Michael Kors in September.

FEATURED STORIES

He acknowledged that such sales can wound national pride, but said that they are a sign of the changing times and globalization.

“For these houses, the esprit is Italian: if that can be kept intact, then international groups are suitable,” said Armani.

Armani, Italy’s second luxury group behind Prada, created a foundation in 2016 which will make it difficult for any outsider to gain control or dismantle the firm. Armani plans to lead the foundation until his death.

The firm generated sales of around $2.6 trillion in 2017. MKH

RELATED STORIES: 

Cate Blanchett named Giorgio Armani global beauty ambassador

Armani democratizes the double-breasted jacket in Milan Fashion Week

ADVERTISEMENT

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Fendi, Giorgio Armani, Gucci, Michael Kors
For feedback, complaints, or inquiries, contact us.



© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.