His Own Boss Till His Last Breath: How Giorgio Armani Ruled Solely Over His $10 Billion Empire

Giorgio Armani, the Italian designer with a multibillion-dollar fashion empire Died aged 91 on September 4, days before his world famous fashion brand would turn 50 years. Armani died at his home in Milan, “peacefully, surrounded by his loved ones,” the fashion house said. “Indefatigable to the end, he worked until his final days, dedicating himself to the company, the collections and the many ongoing and future projects,” the label added.

From powerful boardroom employees to Hollywood A-listers, Armani dressed all those who could afford his timeless elegance crafted in memorable silhouettes.

Also read: Who Will Inherit Giorgio Armani's ₹8.8 Lakh Crore Empire?

Armani owned everything: From a baseball team to a flourishing restaurant business

At the time of his death, Giorgio Armani had put together an empire worth over $10 billion (roughly 8.81 lakh crore), which along with clothing included accessories, home furnishings, perfumes, cosmetics, books, flowers and even chocolates. He also ranked in the world’s top 200 billionaires, according to Forbes.

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The designer also owned several bars, clubs, restaurants and his own basketball team, EA7 Emporio Armani Milan, better known as Olympia Milano. Armani opened more than than 20 restaurants from Milan to Tokyo since 1998, and two hotels, one in Dubai in 2009 and another in Milan, in 2010. Italians would call him Re Giorgio (King George) and Armani lived like a king till his last breath.

A $10,000 start-up becomes a $10 billion empire

In 1975, Giorgio Armani and his partner Sergio Galeotti sold their Volkswagen for $10,000 to start up their own menswear ready-to-wear label. Womenswear followed a year later. In 1980, Armani entered Hollywood and would eventually earn wardrobe credits in over 200 films.

Armani's ever expanding business empire never witnessed a merger nor a sale. This is uncommon with enterprises of such scale. He maintained a firm grip on his empire and collections until the end, thus remaining his own boss all his life until his final breath. He announced a foundation as a succession tool to avoid his businesses being split up. A rarity, Armani never sold even a part of his company to an outsider.