News Net Nebraska

Complete News World

Armani opens up about the turning point: “I do not rule out a merger or initial offering.”

Armani opens up about the turning point: “I do not rule out a merger or initial offering.”

Giorgio Armani does not feel like ruling anything out about the future of the collection. After struggling for years to maintain independence amid mergers and acquisitions that have reshaped the luxury sector, the designer is open to the possibility that his company might one day merge with a larger competitor or become a public company. “Independence from large groups could remain a driving value for the Armani Group in the future, but I don’t feel like ruling anything out,” Armani said in a written response to a series of questions from Bloomberg.

“Adapting to the times”

“What always defines the success of my business is the ability to adapt to changing times,” says Armani. This is a surprising change of tone for Armani, who has always reiterated his desire to maintain strict control over the collection he founded.

Furthermore, the group's future plans have been a hot topic in the sector for some time. Milan's investment banks also fueled the rumours, designing countless scenarios for the company over the years and submitting proposals that never resulted in any agreement.

Options

But the designer now seems more open to change, even if – as he put it – he will return to his heirs for evaluation: “At the moment I do not expect a takeover by a large group of luxury companies, but, as I have already said, I do not want to rule out any Something in advance, because it would be a “non-entrepreneurial” way of working.

Armani leaves the door open to the possibility of an initial public offering for the group: “Listing on the stock exchange is something we have not discussed yet, but it is an option that can be taken into consideration, and we hope that will happen in the distant future.”

See also  Municipal workplaces: eight places for the unemployed over 58 in Mondovi