Italian fashion house Armani will stay independent, its founder and designer Giorgio Armani in an interview published Friday on business website Milano Finanza. “I have always believed that economic independence was the fundamental principle to work in full freedom,” said Armani. A number of Italy’s major luxury brands have been sold to foreign outfits in the past couple of decades, including Gucci and Fendi. “For these houses, the esprit is Italian: if that can be kept intact, then international groups are suitable,” said Armani. Armani, Italy’s second luxury group behind Prada, created a foundation in 2016 which will make it difficult for any outsider to gain control or dismantle the firm.

Source: Punch October 19, 2018 13:41 UTC