Giorgio Armani Expanded His Empire From Designer Leather Goods to Hotels; Here's His Net Worth

What is Giorgio Armani's net worth?

Having turned his own name into a brand synonymous with haute couture, luxury footwear, and designer leather goods, Italian fashion designer Giorgio Armani has earned a net worth of $9.6 billion. He laid the foundation for the business empire in the mid-1970s, and achieved unprecedented popularity in the '80s with his 'power suits,' prominently featured in Miami Vice and American Gigolo. He also holds the distinction of being the wealthiest openly gay individual globally.

What are Giorgio Armani's sources of income?

Armani made most of his revenue from his well-crafted suits and through a brand thriving on the demand for Italian leather goods. Renowned for designing costumes in "American Gigolo," he also contributed to more than 100 movies, including Rober De Niro starrer "The Untouchables" (1987). Despite the loss of his longtime collaborator Galeotti in 1985, Armani expanded globally, launching Armani Japan and diversifying into eyewear, socks, and a gift collection. In the late '80s, he introduced A/X Armani Exchange, aiming to tap into the American mass market with affordable yet chic clothing.

Giorgio Armani's empire continued to thrive as he diversified with his first restaurant in 1989, and by the late '90s, he boasted over 2,000 stores worldwide with annual sales exceeding $2 billion. Armani expanded into home goods and book publishing, while also making strides in skiwear and casualwear. Collaborating with friend Eric Clapton, he hosted events and entered the Chinese market with his first store in Beijing in 1998. The early 2000s saw Armani's foray into cosmetics, home furnishings, and accessories. In 2005, he launched his haute couture line, later expanding into luxury hotels, starting with Dubai in 2010. Armani's versatility extended to designing a bullfighting costume, the "Goyesco."

Real Estate and other assets

At the age of 84, Giorgio Armani divides his time among nine residences across Europe, the United States, and the Caribbean. His aversion to hotels stems from a dislike of inconveniences like high-mounted sinks or poorly executed details, reflecting his disdain for decorative flamboyance and a preference for precision.

Personal life

Armani maintained a long-term relationship with his business partner, Sergio Galeotti, until Galeotti's passing in 1985 from a heart attack. Armani remains highly private about his personal life.

Awards and recognition

Giorgio Armani has received several prestigious awards for his contributions to the fashion industry including,

1979: Neiman Marcus Award for Distinguished Service in the Field of Fashion.

1983: Honor from the Council of Fashion Designers of America (CFDA) as the best international designer.

1985: Became Commander of the Republic.

FAQs

What is special about Giorgio Armani?

Giorgio Armani, an Italian fashion designer whose signature style of relaxed yet luxurious ready-to-wear and elegant, intricately beaded evening wear helped introduce ease and streamlined modernity to late 20th-century dressing.

What does Giorgio Armani do for a living?

Italian designer Giorgio Armani boasts an illustrious career spanning over 35 years in the fashion industry.