CNewStyle

Giorgio Armani journeyed to Moscow this week despite feeling weak after a bout with hepatitis. The Russian capital’s Fashion industry has been crippled by the economic crisis for about a year now, and Armani went to lend his moral support. While talking to reporters over there, the 75-year-old designer hinted at retirement. “I’m already organizing staff who will continue my work,” he said. He also admitted — despite being known as “King Giorgio” in Italy — that he is, in fact, human. “Of course I am not eternal, there comes a time when you must hand it over.” But as he’s done with investors in the past — one day he wants a bourse listing, the next he wants to sell his entire empire — he’s giving mixed messages. Last month he made some management changes to ease his workload, yet in Russia he wanted everyone to come and see how good he looks.

Dressed in a sleek black suit, Armani joked with reporters about his appearance: “You see how I am, I don’t look bad yet, do I?” he remarked to a roaring round of applause.

Armani’s deputy general manager John Hooks thinks that, though Armani will lose money this year, the economy has bottomed out for the Armani empire and the fashion industry as a whole. Maybe Giorgio is waiting to leave on a high note. Being beautiful isn’t a bad way to bow out, but being beautiful and making bank is so much better.

The man they call the “King Giorgio” in Italy, has admitted he is already considering who will take over the Armani fashion throne.

After a health scare earlier this year (he is still recovering from hepatitis), the 75 year old designer has had plenty of time to think about his legacy.
And now, he has revealed that he is searching for a successor to his business, which currently has an estimated annual turnover of $1.6 billion “I’m already organizing staff who will continue my work,” the designer told reporters in Moscow yesterday. A notoriously shrewd businessman, Armani is not thought to be looking for a big name designer to take over from him. Industry insiders believe that he is grooming his nephew Andrea Camerana (who is currently vice president of marketing and licensing at the Armani group) to take over the company.

“I keep Andrea by my side because he is my nephew and I love him” said Armani last month, “and who knows, one day he could have a big opportunity in the company. However, for the moment, I prefer to keep him where he is, without giving him responsibilities that are too official. His official role is as my nephew, which is more than enough for many.”

If this is the case, it wouldn’t be the first time a family member has taken over at a prestigious Milanese fashion house – from Miuccia prada transforming her grandfather’s luxury luggage label to a full-blown ready to wear line to Donatella taking over her late brother’s label, we know that, when it comes to fashion, Italians like to keep in the family.
“Of course I am not eternal, there comes a time when you must hand it over”, said the designer yesterday. For now though, Armani has no intention of going anywhere. Dressed, as you would expect, in a fabulously sleek black suit, Armani joked with reporters “You see how I am, I don’t look bad yet, do I?”.