Giorgio Armani Net Worth in 2017: $7.8 billion
Full name: Giorgio Armani
Date of birth: 1934-07-11 (83 years)
Birth Place: Piacenza, Italy
Residence: Milan, Italy
Marital Status: Single
Education: University of Bologna, University of Milan
Salary: $3100000000 / year
Height: 1.72 m (5'6'' ft)
Giorgio Armani biography
Wondering what is Giorgio Armani’s net worth 2015 or how much money is Giorgio Armani making? You’re in the right place! Keep reading!
Giorgio Armani is an Italian fashion designer who is known for his menswear designs that have clean and precise lines. Armani, his company, was formed in 1975. By 2001, he was the most successful designer to come out of Italy.
Armani’s father is of Italian Armenian descent. He aspired to become a doctor, but then joined the army. He was transferred to Verona due to his medical background. After experiencing this life, he decided to pursue a different career.
He then found a job as a window dresser at a department store in Milan. Subsequently, he familiarized himself with the marketing aspects of the fashion industry. In the mid-60s, Armani moved to the Nino Cerruti company, designing menswear for them.
His skills were in high demand. He met Sergio Galeotti, an architectural craftsman, and began a professional collaboration with him.
In 1973, Galeotti persuaded him to start a design office in Milan where he freelanced for the top brands.
Giorgio Armani has a net worth of $7.8 billion due to his fashion lines.
The private Armani Group got a 14% increment in revenues in 2011 to $2.35 billion or EUR 1.8 billion by dint of the shoppers of Chinese luxury goods.
They spent 45% more than what they did in 2010 on Armani perfume, clothes, home décor and watches.
This increased the 78-year old Armani’s net worth by $1.3 billion more than what it was a year back. The designer is also creating prescription eyeglasses and sunglasses for the Luxottica Group which is owned by fellow Italian billionaire Leonardo Del Vecchio, as a part of their decade-long agreement.
Armani owns just less than 5% of the Luxottica shares.
Armani has partnered with Dubai developer Emaar Properties on two luxury hotels – the Armani Hotel at the Burj Khalifa in Dubai that opened in 2010, and the Armani Hotel Milan with 96 rooms that opened late in 2011.
The creator of one of the most upscale fashion brands of the world, Armani’s Italian company has increased from a profit of $14.000 in its first year to becoming a fashion giant making a whopping $2 billion in terms of annual sales. Over the years, his personal fortune has experienced serious appreciation as well.
This makes him one of the richest fashion icons of the world. The net worth of Armani is over $8 billion now, and with that being said, there is little left to prove.
Back in the 1970s, the designer says that he and his late partner Galeotti had no idea had what they were doing when they sold their Volkswagen.
Giorgio Armani Net Worth 2015
Armani owns a retail network with 250 stores in 33 countries. These make global sales of $2 billion a year. The fashion empire today is privately owned which means that he is the only shareholder of his company, making him the last solitary fashion designer.
The Armani portfolio incorporates ready made men and women’s fashion ensembles, a line of haute couture, watches, cosmetics, shoes, electronics, housewares, restaurant, confectionery, nightclub and bar.
So how much is Giorgio Armani worth? All his hard work took Giorgio Armani Net Worth 2015 to $7.8 billion.
Giorgio Armani net worth evolution
Here you can see how the personal net worth of Giorgio Armani changed over the years. We combined our yearly data into an easy to view graph.
* in million/billion of USD
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