Armani opens as much as the turning level: «I don't rule out a merger or an IPO» | EUROtoday

Get real time updates directly on you device, subscribe now.

Giorgio Armani doesn’t really feel like ruling out something for the group's future. After struggling for years to keep up independence amid the mergers and acquisitions which have reshaped the posh sector, the designer is open to the likelihood that his firm may sooner or later merge with a bigger rival or go public. “Independence from large groups could still be a driving value for the Armani Group in the future, but I don't feel like ruling anything out,” Armani mentioned in a written response to a collection of questions from Bloomberg.

«Adapting to the occasions»

«What has at all times characterised the success of my work is the flexibility to adapt to altering occasions», says Armani. This is a stunning change of tone for Armani, who has at all times reiterated his need to keep up strict management of the group he based.

Furthermore, future plans for the group have been a sizzling subject within the sector for a while. Milanese funding banks additionally fueled the rumors, designing numerous eventualities for the corporate through the years and presenting proposals that by no means produced any settlement.

The choices

But the designer now appears extra open to the change, even when – he mentioned – it will likely be as much as his heirs to guage them: «At the second I don't foresee an acquisition by a big luxurious conglomerate, however, as I’ve already mentioned, I don't wish to rule something out a priori, as a result of it could be an 'unentrepreneurial' means of performing”.

Armani leaves the door open to a potential IPO of the group: «The itemizing on the inventory change is one thing now we have not but mentioned, however it’s an possibility that might be considered, hopefully within the distant future».