Armani: will, foundation owns 100% of company

Milan, 12 September (LaPresse) – Ownership of Giorgio Armani Spa goes 100% to the Giorgio Armani Foundation: 9.9% of shares owned and 90% of shares with bare ownership rights. The Giorgio Armani Foundation already held 0.1% of the shares. This is stated in Giorgio Armani's will, which was viewed by LaPresse. Giorgio Armani's partner and right-hand man, Pantaleo dell'Orco, will have 40% of the voting rights in the fashion company founded by the designer. Thirty per cent of the rights will go to the Foundation, and 15% each to his grandchildren Silvana Armani and Andrea Camerana.