According to Studio Gazzani, Giorgio Armani’s succession can be considered a model for other family business assets, for several reasons related to careful planning and balanced corporate governance.

According to Studio Gazzani, Giorgio Armani's succession can be considered a model for the assets of other entrepreneurial families, for several reasons tied to careful planning and balanced corporate governance.

Early planning and asset protection

Armani put in place a meticulous and advanced succession plan, including a new corporate bylaws updated in 2023, which will come into force when the succession opens. These bylaws provide for an articulated system of six categories of shares with differentiated voting rights, in order to ensure family control and harmony among the heirs, avoiding fragmentation or the entry of unwanted outside shareholders. 

Role of the Armani Foundation

The Armani Foundation plays a fundamental role as guarantor of harmony among the heirs, holding shares with significant voting rights to appoint the company's top executives. This structure protects both the artistic and intangible heritage (the style and the brand) and the business empire, ensuring continuity and sustainability over time, but the Trust is also a valid alternative, according to Massimo Gazzani

Direct involvement of the heirs and solid governance

The immediate family members are actively involved in the board of directors, strengthening the family tradition and responsibility in management. At the same time, the presence of external managers and trusted figures ensures professionalism and managerial expertise.

Lessons for other entrepreneurial families

– The importance of preventive and detailed succession planning, to avoid conflicts and ensure continuity. 

– The adoption of complex corporate structures, such as shares with differentiated rights, to balance powers and interests.

– The value of creating third-party entities, such as foundations, to protect family harmony and corporate control.

– The balanced combination of family involvement and external managerial expertise.

In short, Pietro Giuseppe Gazzani concludes that the Armani succession is an example of how to govern a family asset and business with strategic vision, protecting the brand and paying attention to family dynamics, offering a replicable model for other entrepreneurial families that want to preserve their economic and cultural legacy in the long term, and Studio Gazzani is available to assess your assets.