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Giorgio Armani was the “first post-modernist fashion designer” and a “revolutionary”, according to the BBC’s obituary. [1]
After his death in September 2025 at the age of 91, his impact on the fashion world – from haute couture to high street stores – will live on.
Now that the details of his will have been revealed to the public, there is much to learn from his impressive long-term estate plan.
Armani refused to relinquish control of his empire during his lifetime
Armani famously sold his Volkswagen Beetle at the age of 40 to start his fashion business, now estimated to be worth $9.6 billion.
He owned 99.9% of the Armani corporation until his death, despite a steady stream of offers over the last 50 years. The Armani Foundation, a separate entity established nine years ago to ensure the business’s long-term management, owned the remaining 0.1%. But the fashion mogul did not consider himself invincible, nor did he ignore the importance of legacy planning. [2]
Armani divided his estate between close family members
There are countless stories of vast estates falling into disarray after the patriarch or matriarch passes away. Infighting, unclear inheritance intentions, and hidden assets all form part of an all-too-familiar pattern for wealthy families.
It is refreshing, then, to learn that Armani’s airtight will did not spark any such chaos.
He clearly stipulated that the Armani Foundation would hold a 10% share, with his business partner taking a further 30%. The remainder of the estate was divided among Armani’s close family, including his sister, nieces, and nephews.
He left clear instructions on how and when the business assets must be sold, and to whom
Although he maintained strict control over his empire in life, in his will, Armani stipulated that:
- 15% be sold within a year of his death, preferably to LVMH, L’Oreal, or Essilor-Luxottica
- A further 30% to 54.9% be sold to the same buyer within the next five years. [3]
Having identified and presumably approached ideal buyers before his death, Armani maintained control over the future of his business. At the same time, his strategy gives his beneficiaries the opportunity for a transformative capital event within a clear time frame.
Legacy planning is a careful balancing act that takes years to achieve
Whether you are a business owner, executive, or possess inherited wealth, forming a legacy that survives beyond your lifetime may prove challenging in today’s financial landscape.
With myriad tax regulations to navigate and your family and business associates’ circumstances and relationships to consider, it is no wonder that so many large estates succumb to costly (and emotionally strenuous) conflict.
In fact, applications to block probate rose by as much as 56% between 2019 and 2024. [4]
Giorgio Armani maintained honest relationships with those closest to him throughout his lifetime, enabling potentially challenging conversations to happen early on. With his wishes clearly outlined, the enduring legacy of his brand has been secured even after his death.
Read more: How to choose a suitable attorney to safeguard your wealth
You, too, can master the art of careful estate planning with plenty of forethought and unbiased advice. The IPS team is here to help you achieve this delicate balancing act.
Contact your relationship manager to discuss anything you have read here, or if you are yet to work with us, email info@ipscap.com for more information.
Please note
This article is for general information only and does not constitute advice. The information is aimed at retail clients only.
All information is correct at the time of writing and is subject to change in the future.
Please do not act based on anything you might read in this article.
The Financial Conduct Authority does not regulate estate planning, tax planning, Lasting Powers of Attorney, or will writing. IPS Capital does not provide tax or legal advice.
Sources
[1] 04.09.2025 How style guru Giorgio Armani revolutionised fashion BBC
[2] 13.09.2025 Inside Giorgio Armani’s Will: Here’s Who Gets What From Billionaire’s Fortune Forbes
[3] 12.09.2025 Giorgio Armani’s will sets path for sale of fashion empire Sky News
[4] 08.08.2025 Contentious probate up by as much as 56% according to freedom of information request Today’s Wills and Probate
