Italian fashion legend Giorgio Armani, who passed away on September 4 at the age of 91, left behind not just a legacy of timeless style but also a carefully planned future for his empire. With an estimated net worth of $11.8 billion, Armani’s will, made public by the Italian press, revealed how his foundation, family, and even global luxury giants will shape the brand’s future.

The Armani Foundation inherits his company and will hold at least 30 percent of voting rights, ensuring it remains a permanent guardian of Armani’s values. The will also outlines a plan for the foundation to sell a 15 percent stake to a major luxury group such as LVMH, L’Oreal, or EssilorLuxottica. Within three to five years, this new shareholder may even take a majority stake. Should the sale not occur, Armani requested his company be listed on the stock market, with the foundation maintaining significant influence.

His long-time collaborator Leo Dell’Orco has been entrusted with day-to-day leadership, sharing control with Armani’s niece Silvana Armani and nephew Andrea Camerana. The foundation will retain 10 percent ownership, while Dell’Orco will have use rights over prime properties in St. Tropez, St. Moritz, Antigua, and Pantelleria. Meanwhile, Armani’s sister Rosanna, alongside Silvana and Andrea, inherits the real estate portfolio.

Armani’s final wishes emphasize strategic continuity, financial stability, and the brand’s ethical principles. The company statement noted that the foundation will guarantee moral integrity, global innovation, and the understated elegance Armani championed for five decades.

Despite his private funeral attended only by close family, Armani’s passing was mourned worldwide, with tributes from designers, politicians, and celebrities. His last collections will be showcased at Milan Fashion Week later this month, alongside a special exhibition marking the 50th anniversary of the Armani brand.