Giorgio Armani is studying the possibility of creating a foundation to protect the future of his fashion empire; “I don’t want to leave problems for the people who come after me”

Giorgio Armani is studying the possibility of creating a foundation to protect the future of his fashion empire; “I don’t want to leave problems for the people who come

Giorgio Armani looking at creating foundation

Mon, Jan 13 2014

By Isla Binnie

MILAN (Reuters) – Giorgio Armani is studying the possibility of creating a foundation to protect the future of his fashion empire, the Italian designer and businessman said on Monday.“I am paying a lot of attention to the possibility … I don’t want to leave problems for the people who come after me,” Armani, who turns 80 this year, said after showing an autumn-winter menswear collection in Milan.

The question of who will succeed the creative director and chief executive of one of the world’s most recognizable fashion brands, which had revenue over 2 billion euros ($2.73 billion) in 2012, has occupied industry observers for a decade.

Armani has hinted over the years that he could list or sell the group, and said after recovering from a bout of hepatitis in 2009 that he had started organizing staff to continue his work.

The hands-on designer from northern Italy could set up a foundation similar to the Hans Wilsdorf foundation behind watch brand Rolex, an investment banker said.

Armani, who starred in one of his own advertising campaigns last year, said he needed more information before making a decisions.

“I don’t have as much time at my disposal as I would like for such important things,” he said. “I want to have much more information.”

Armani suggested he had no current plans to list the company publicly, after shareholders in jacket maker Moncler raised more than 780 million euros in an initial public offering in December, but found the prospect interesting.

“Every time someone lists on the stock market and it goes well, it whets my appetite a little,” Armani said.

Italian strategy consultancy Pambianco named Armani the “most quotable” Italian luxury company in a December 2013 study of which brands would do well in a stock market listing.

Male models sauntered down the catwalk for the youth-focused Emporio Armani line on Monday in skinny grey suits with ankle-skimming trousers, sweaters with fake fur inserts, and shimmering blazers in purple and claret.

“When the boys put on these suits, they feel like little princes,” Armani said.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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