What Is Giorgio Armani's Net Worth and Salary?
Giorgio Armani is an iconic Italian fashion designer with a net worth of $9 billion. Best known for his luxurious men's suits, Armani launched his fashion empire in the mid-1970s. His popularity surged in the '80s, with his 'power suits' frequently showcased in the TV series "Miami Vice" and the film "American Gigolo." Armani is notably the richest openly LGBT individual in the world.
Early Life
Born on July 11, 1934, in Piacenza, Italy, Giorgio Armani experienced the struggles of World War II. Raised by Maria Raimondi and Ugo Armani, alongside his siblings Sergio and Rosanna, Giorgio attended secondary school at the Liceo Scientifico Leonardo Da Vinci in Milan. Fascinated by anatomy, he studied medicine for two years before shifting paths and joining the army in 1953, serving at the Military Hospital in Verona.
Career
Giorgio Armani's career began as a window dresser at La Rinascente, a Milanese department store. He later became a seller in the menswear department, gaining invaluable marketing experience. His next role was as a designer for Nino Cerruti. With encouragement from his friend Sergio Galeotti, Armani began freelance work and eventually opened a design office in Milan. Collaborating with many fashion houses, he carved out a niche in the industry.
Armani gained considerable attention after a runway show at Sala Bianca in Florence's Pitti Palace. In 1975, he and Galeotti founded Giorgio Armani S.p.A., launching lines for both men and women. His 1976 collections introduced a revolutionary natural fit and subtle color palette, quickly establishing Armani as an innovator. By 1979, he had made a mark in the U.S., and his brand expanded into various categories, including accessories, swimwear, and underwear.
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Armani's significant break in America came in 1980 when his designs were featured prominently on television shows. This catapulted his brand to the forefront of international fashion. The early '80s saw further growth with agreements for perfumes with L'Oreal, and the introduction of Armani Junior, Armani Jeans, and Emporio Armani. Among many prestigious clients, Hollywood stars like Michelle Pfeiffer, Jodie Foster, and John Travolta began wearing his designs on the red carpet.
Armani's collaboration with the film industry began with "American Gigolo," leading to over 100 film costume designs, including "The Untouchables" in 1987. Despite the death of Galeotti in 1985, Armani's expansion continued with the foundation of Armani Japan and the introduction of various product lines in the late '80s. His A/X Armani Exchange line specifically targeted the American mass market with chic, affordable designs.
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In 1989, Armani ventured into the restaurant business. By the late '90s, he had over 2,000 stores worldwide and annual sales nearing $2 billion. The brand expanded into home goods, skiing apparel, and cosmetics. In 1998, Armani entered the Chinese market, opening a flagship store in Shanghai by 2004. His 2000 exhibition at the Guggenheim Museum in New York marked a significant milestone, and by 2001, he was celebrated as the most successful designer of Italian origin.
Armani continued evolving, debuting his first haute couture line in 2005 and opening luxury hotels in Dubai and Milan. His contributions echoed through various industries, including designing bullfighting costumes for Spanish bullfighter Cayetano Rivera Ordóñez. By 2009, his retail network comprised 50 Armani boutiques globally.
Personal Life
Giorgio Armani had a long-term partnership with Sergio Galeotti until Galeotti's passing in 1985 due to a heart attack. Armani remains exceptionally private about his personal life.
