Giorgio Armani is open to the idea of an Italian fashion group

Interviewed by Vogue USA, Giorgio Armani defined the idea of keeping his brand independent as «not so strictly necessary» and that «one could think of a liaison with an important Italian company». Vague words clarified shortly afterwards by Roberta Armani, niece of the designer and designated heir of his empire together with Leo Dell'Orco: «It could be great, finally, to have an important Made in Italy joint venture in the fashion industry». And in fact, the statements of the two Armani, even if they don't necessarily refer to another fashion company, come at a time of strong activity for the Italian fashion business: first Claudio Antonioli independently acquired Ann Demeulemeester in September, in December Stone Island acquired Moncler, in March the Italian group OTB acquires Jil Sander and finally last week there were rumours about a possible acquisition of Salvatore Ferragamo. 

Giorgio Armani FW21

Giorgio Armani FW21

Giorgio Armani FW21

Giorgio Armani FW21

Giorgio Armani FW21

After the economic crisis triggered by the Covid-19 pandemic, the position of independent brands owned by their original families such as Armani but also Zegna or Ferragamo has become more uncertain: clearly, an industrial group is able to manage a crisis better than a company on its own, but it's also true that the same players in the industry are not willing to give up their independence if this means handing over the "keys to the kingdom" to a foreign industrial titan. Therefore, among these Italian companies, it seems to have aroused the need for an industrial reality capable of competing, or at least opposing, the excessive power of Kering and LVMH, which already own a large slice of Italian fashion with Gucci, Bottega Veneta, Fendi, Bulgari and Berluti just to name a few; while other major luxury brands in the country such as Valentino and Versace operate on national soil but are actually owned by Qatari and American investment groups respectively. The same acquisition of Stone Island by Moncler took place on the basis of an Italian heritage shared between the two brands. 

Giorgio & Roberta Armani

Miuccia Prada & Patrizio Bertelli

Stefano Gabbana & Domenico Dolce

The Zegnas

The Missonis

The Ferragamos

Brands such as Missoni, Ermenegildo Zegna and Salvatore Ferragamo, but also such as Armani, Prada and Dolce & Gabbana (which recently refused to be acquired by an anonymous brand), have managed to remain family-run businesses even in the face of a huge expansion of their business. These brands are also all endowed with a historical and cultural heritage that few others can boast in the sector and it is therefore natural that, if the prospect of joining an industrial group sounds interesting for the security that the business model can guarantee, it is also true that that group will have to be Italian. The appearance of this joint venture will certainly not be immediate but could also be closer than we believe. As Roberta Armani told Vogue:

«I’m sure he’s made his plans, and whatever he has decided, we will be with him».