Giorgio Armani says it loud and clear: never with the French. Last July, he criticised the haute couture seen in Paris. Now he reiterates, indeed reinforces, the concept: there will be no place for France in the future of his company. In other words: neither LVMH, nor Kering, nor any other transalpine group will become a shareholder or control the Italian fashion group he founded. The King of Italian fashion calls these large French luxury conglomerates “megastructures without personality”. Not only that, he goes so far as to label them as “ridiculous, because they want to do everything”.
Never with the French
Giorgio Armani, 89, does not mince words in an interview with the Financial Times. “These French groups want to do everything, I don’t understand: it’s a bit ridiculous”. He then goes on to reiterate: “Why should I be dominated by one of these megastructures with no personality?” Armani is convinced that the choices made so far have been correct and is “particularly keen to avoid a takeover by one of the French luxury conglomerates”, writes the financial newspaper.
The future of the group
“I know that Giorgio Armani, the company, identifies with me. So, it is my responsibility to make sure that this continues and that the company has a footprint that resembles Mr Armani”, the entrepreneur claims. In 2016, the designer himself set up the Giorgio Armani Foundation to protect the company from future takeovers or spin-offs. In the future, the foundation will own an undisclosed stake in the group, with the rest going to his family. “Everyone tells me I should retire and enjoy the fruits of what I have built, but I say no: absolutely not”, says Armani.
Paris vade retro
This is not the first time Armani has made highly critical statements about the French fashion and luxury environment. For instance, in July, he harshly criticised the Parisian haute couture fashion show week. “I’m a bit puzzled because except for a couple of names, the others don’t really do haute couture, neither in terms of effects nor ideas. And I am a bit astonished because I am in a Paris that I remember as being a bit more glamorous”, he said (source: Corriere della Sera).
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