Giorgio Armani - The Businessman, the Designer and the Brand
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Case Details:
Case Code : LDEN033
Case Length : 09 Pages
Period : 1970-2004
Pub Date : 2005
Teaching Note : Available
Organization : Giorgio Armani
Industry : Fashion
Countries : Italy
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This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Giorgio Armani - Superstar Contd...
The house had been steadily profitable since it
was set up in 1975. It was also one of the few stand-alone fashion
houses in an industry moving toward huge multi-brand luxury
conglomerates. Armani's fashion house had long resisted bids from
bigger institutions like Moët Hennessy Louis Vuitton (LVMH) and
Gucci, who were eager to add the profitable brand to their
portfolios. In addition, Armani was one of the rare cases where a
designer was also involved with the business side of his enterprise.
The Beginnings
Born on July 11, 1934, in the small northern Italian town of Piacenza, Armani
had a difficult childhood, growing up as he did during the Second World War. He
initially aspired to become a doctor and in pursuit of his childhood ambition,
he attended two years of medical school at the University of Bologna near
Milan.However, he soon found that he was not cut out for the medical profession
- the sight of blood sickened him. In 1953, he was called to fulfill his
military obligations where, because of his medical training, he was assigned to
the infirmary. His work at the infirmary cemented his decision of dropping out
of the medical line.
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Because he was often alone in the infirmary, Armani spent a lot of
time polishing his painting skills (which stood him in good stead when he
became a designer).
After completing his military service in 1954, Armani joined La Rinescente,
Milan's largest department store, as a window dresser. He was later promoted
as a buyer, in which capacity he made regular trips to London, where he
sharpened his sense of style and fashion.
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In the early 1960s, he joined Nino Cerruti (Cerruti), a prominent fashion designer, as an assistant designer
for his men's wear brand, Hitman. Over the next few years, Armani took up
freelance work for several clothing companies (while still in Cerruti's
employment). He even did some designing for top fashion houses Ungaro and
Zegna. The turning point in Armani's life came in 1966, when he met
architect Sergio Galeotti (Galeotti). Galeotti had immense confidence in
Armani's talents as a designer and encouraged him to set up his own label.
Eventually, in 1970, Armani left Cerruti and established his own freelance
business. He brought out his first line of men's wear under his own name in
1974. |
The designs became so popular that he officially launched his
own label, Giorgio Armani, in 1975 with the setting up of Giorgio Armani SpA in
Milan. Giorgio Armani SpA was set up with an investment of $100,000, part of
which was raised by selling Armani's Volkswagen car. In the mid-1970s, a greater
number of women began entering the work force and Armani was quick to tap this
market. In 1975, he brought out a women's wear line using men's fabrics, and
this proved to be a huge hit. Analysts later said that he was the pioneer of
power dressing for women.
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