Giorgio Armani Net Worth $9.6 Billion
After his stint in the armed forces, Armani found a job as a window dresser at La Rinascente, a department store in Milan in 1957. He went on to become a seller for the menswear department, in which capacity he gained valuable experience in the marketing aspect of the fashion industry. In the mid-1960s, Armani moved to the Nino Cerruti company, where he designed menswear. His skills were in demand, and for the next decade, while continuing to work for Cerutti, Armani also freelanced, contributing designs to as many as ten manufacturers at a time. In the late 1960s, Armani met Sergio Galeotti, an architectural draftsman, which marked the beginning of a personal and professional relationship that lasted for many years.
In 1973, Galeotti persuaded him to open a design office in Milan, at 37 Corso Venezia. This led to a period of extensive collaboration, during which Armani worked as a freelance designer for a number of fashion houses, including Allegri, Bagutta, Hilton, Sicons, Gibò, Montedoro, and Tendresse. The international press was quick to acknowledge Armani’s importance following the runway shows at the Sala Bianca in the Pitti Palace in Florence. The experience provided Armani with an opportunity to develop his own style in new ways. He was now ready to devote his energy to his own label, and on July 24, 1975 he founded Giorgio Armani S.p.A. in Milan, with his friend Galeotti. In October of that same year, he presented his first collection of men’s ready-to-wear for Spring and Summer 1976 under his own name. He also produced a women’s line for the same season.
In 1996 his long-time friend Eric Clapton composed songs for Armani’s fashion shows and has since dressed in Armani. Later that year Clapton opened two Emporio Armani stores in New York City. In 1998 Armani hosted a party for Clapton’s Crossroads guitar auction.
He also prepared to break into the Chinese market by opening up his first store in that country in 1998. The small shop in Beijing was followed by a flagship store in Shanghai in 2004 and plans for 40 by 2011. In 2000, Giorgio Armani SpA was introducing new lines of cosmetics and home furnishings and expanding its line of accessories. At the same time, the Guggenheim Museum in New York hosted an exhibition of Armani’s work – a first for a living designer – with an average attendance of 29,000 a week.
In 2008, Armani designed the bullfighting costume, called the “Goyesco”, worn by Spanish bullfighter Cayetano Rivera Ordóñez at the “Corrida Goyesca” in Ronda, Spain. They have also collaborated on several fashion shows and other events.
As of 2009, Armani has a retail network of 60 Giorgio Armani boutiques, 11 Collezioni, 122 Emporio Armani, 94 A/X Armani Exchange, 1 Giorgio Armani Accessori, and 13 Armani Junior stores spread over 37 different countries. He has an annual turnover of $1.6 billion and a personal fortune of $8.1 billion as of 2017.
In 2001 Armani was acclaimed as the most successful designer of Italian origin.