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MILAN
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The designer was the richest in the world, and the sole owner of the Armani Group that was for many years the most successful fashion company in the country.
With Giorgio Armani’s death come questions about whether his chosen successors can avoid ‘rupture’ and maintain the Italian fashion empire’s independence.
Armani leaves a legacy of radical lightness, and an all-encompassing vision for Italian elegance. Remaining independent will require his successors to restore that iconoclastic, globally minded approach at every level of the company.
Eric Sylvers is Milan Correspondent at The Business of Fashion. He is based in Milan and leads BoF’s coverage of all things Italian.
The 98th Academy Awards, and Vanity Fair’s revamped after-party, bring luxury brands’ red-carpet strategies to a crescendo. Plus, Lululemon reports quarterly results with the CEO job still vacant.
In this week’s High Margin luxury newsletter: A softening resale market for Birkin and Kelly bags poses questions for luxury powerhouse Hermès. Plus, a run on Chanel’s stores during Paris Fashion Week.
Goasglas is set to head the luxury conglomerate’s biggest watch label after the sudden exit of former chief executive Antoine Pin in January.
Harrods is still grappling with the dark legacy of former owner Mohamed Al Fayed’s serial sexual abuse, facing ongoing internal investigations, compensation negotiations and calls for greater accountability.
Saks is moving towards exiting bankruptcy and tapped an additional $300 million of its Chapter 11 financing package.
War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.
Beauty brands must rethink upselling with smarter value plays, from curated bundles to jumbo sizes and subscriptions, to keep their customers from switching to the competition.
Check out this week’s new partner and job openings on BoF Careers, the global marketplace for fashion and beauty talent.
