What’s Next for Giorgio Armani’s Fashion Empire?

 

https://www.wsj.com/business/retail/giorgio-armani-death-successor-77b523d5?mod=business_lead_story

Alongside the foundation, founded in 2016, Armani drafted a fresh set of bylaws to come into force after his death. They create multiple categories of shares with different voting rights, though the precise allocation of these blocs hasn’t been disclosed. They also stipulate a cautious approach to acquisitions and debt, and place clear limits on any change of ownership. A stock market listing isn’t forbidden but can only be considered with the approval of a majority of directors. Historically, fashion houses didn’t survive beyond the lives of their founders. In more recent times, however, the death of an iconic founder hasn’t necessarily meant the end of a brand. Balenciaga, Chanel, Dior, Givenchy, and Saint Laurent have all flourished long after their creators’ deaths, transformed into global businesses under new stewards. Creative directors have largely become hired guns, brought in to revive a label and replaced when sales falter. The most important lesson Armani wanted to pass on to those he worked with? Be humble, he told the Journal last year. “Sometimes people in this business have strong egos, and it’s important to remain modest,” Armani said.

"Yea, the creative director, is an job to get, more excited about, and look with cloths that expensive, he was humble, not adding egos or supporting strong egos, think about that, Jason Lofters."