Why Giorgio Armani launched a new Foundation
The main goal is safeguarding the future of the company
The most waited Giorgio Armani Foundation has just been launched by Giorgio Armani. The famous Italian fashion designer said he decided to create the new institution to "implement projects of public and social interest". However, Mr Armani also added that "The foundation will safeguard the governance assets of the Armani Group and ensure that these assets are kept stable over time, in respect of and consistent with some principles that are particularly important to me and that have always inspired my activities as a designer and an entrepreneur".
Among these principles there are autonomy and independence, an ethical approach to management with integrity and honesty, attention to innovation and excellence, an absolute priority to the continuous development of the Armani brand sustained by appropriate investments, prudent and balanced financial management, limited recourse to debt and a careful approach to acquisitions.
The general feeling is that this Foundation has been set up to safeguard the future of the company when Mr. Armani will eventually entrust it to a group of heirs whose names have not been disclosed yet.