Giorgio Armani Dies at 91—and Leaves Behind a Spectacular International Property Portfolio

Famed fashion designer Giorgio Armani has died at the age of 91, less than three months after he was reported to have been suffering from an unspecified health condition that prevented him from attending his Milan Men’s Fashion Week show for the very first time.

Armani’s passing in his hometown of Milan, Italy, was announced in a statement shared by his eponymous company, which revealed that the style icon was “surrounded by his loved ones” when he died.

“Il Signor Armani, as he was always respectfully and admiringly called by employees and collaborators, passed away peacefully, surrounded by his loved ones,” a translation of the statement, which was written in Italian, reads.

It went on to note that the brand founder worked “tirelessly” until his “last days,” while praising his “vision that expanded from fashion to every aspect of life.”

The statement also paid tribute to Armani’s enduring love of Milan, where his brand was headquartered and where he himself had spent much of his life, having moved there after serving in the military after studying at university for two years.

“I arrived with my family from Piacenza in the aftermath of World War II,” Armani said in a 2024 interview with Gourmet Traveller.

“I studied here, made friends, started working. I built my life here … Today I feel completely Milanese. I love the city very dearly.”

However, Armani—who did not have any children—also had a fondness for international travel, a passion that extended to his love of real estate, which saw him snapping up properties across the globe, from an island home on Pantelleria in Italy to an apartment in New York City.

In one of the final interviews he did before his death, which was published Aug. 29, the designer spoke to the Financial Times from his home in Saint Tropez, where he was still “rehabilitating” from the unknown condition that prevented him from attending his fashion shows in June and July

Though Armani resided primarily in an apartment in the center of Milan, per the outlet, his home in Saint Tropez appears to have provided a much-needed sanctuary from city life—however, his physical absence from the day-to-day running of his company does not appear to have deterred the fashion legend from remaining in control of every aspect of its business.

“My greatest weakness is that I am in control of everything,” he admitted. “Everything you will see has been done under my direction and carries my approval.”

To that end, Armani also opened up to the publication about the succession plan that he had put in place—which will see several members of his family, including his nieces and nephew, taking over the running of his company.

“My plans for succession consist of a gradual transition of the responsibilities that I have always handled to those closest to me,” he explained. “I would like the succession to be organic and not a moment of rupture.”

What currently remains unclear is who will inherit Armani’s estimated $12.1 billion fortune—which includes his many properties around the world.

The designer was known to have a penchant for island properties in particular, snapping up multiple villas and estates in a number of European locations during his lifetime, including an expansive property on Pantelleria, a little known Italian island where he owned a seven homes.

Known as Cala Gadir, the estate became one of Armani’s most treasured homes—serving as a summer escape for the designer and his loved ones for years after he purchased it in 1979.

Known as the “black pearl” of the Mediterranean, Pantelleria was far from the luxurious and exotic paradise that some might have expected Armani to favor when he first purchased the home—with the designer revealing to Condé Nast Traveler in 2016 that there was no electricity on the island when he first arrived.

“I lived here when there wasn’t electricity on the island,” he shared. “You had to pump your own water.”

Still, Armani put his own lavish spin on the dwelling, overhauling all seven of the residences in his own unique way, although he explained to the outlet that he never tried (or wanted) to turn the island into something it was not, instead embracing the simplicity of the lifestyle that it presented.

“I feel like one of the locals here,” he said. “Forget the jet set, the partying, the cool people, and the nights until the wee hours. They don’t exist. And no one wants them here.”

Should he ever have lusted after something more starry, however, Armani had plenty of options to choose from.

In addition to his sprawling villa in Saint Tropez and his Italian island escape, the designer also owned an additional holiday home on the island of Antigua in the Caribbean.

The property is perched on a clifftop overlooking the ocean inside an exclusive residential community that is home to just 25 villas, each more spectacular than the next.

According to a 2020 profile in Forbes, Armani purchased the home for an unspecified price in 2006 after falling in love with Antigua, which he described as being “one of the most scenic islands in the Caribbean.”

His expansive estate on the island is actually comprised of two villas, which he purchased around the same time and which are known as Villa Flower and Villa Serena.

Both homes feature their own swimming pool, gym, spa, and terrace, as well as stunning interior decor crafted by the fashion legend’s own brand, Armani Casa.

Armani Casa was also used for the design of the businessman’s beloved superyacht, Main, which was built for him by the Italian company, Codecasa, and which is understood to have played host to a slew of Hollywood A-listers over the years.

According to reports, Armani spent around six weeks every summer sailing around the Mediterranean with his loved ones aboard the 213-foot vessel, which was launched in 2008.

In 2015, the design icon explained to Boat International that he’d made the decision to commission his own yacht after spending time aboard other vessels that simply didn’t suit his own personal style.

“Sometimes they’d belong to people I knew, sometimes they were just chartered. Invariably they were not my style—too white, too much lighting, too much marble, crystal and mahogany,” he said.

Armani noted that his love of life on the sea was also fueled by his desire to maintain his privacy—which saw him avoiding very public places like hotels, or densely-populated holiday hot spots.

“That’s why I’m not that keen on hotels. That and the décor—actually, big boats are often like hotel suites out at sea. So my own boat seemed to be the perfect solution,” he said.

“I enjoy a degree of isolation—that’s what my home on Pantelleria is all about. However, it’s not just on islands that I like to isolate myself. I isolate myself in worlds that I create from what I love. I remove what I don’t like. You have to organize an atmosphere around yourself.”

Yet Armani could not escape city life altogether, a fact that he made clear in 2019 when he snapped up a stunning penthouse apartment in New York City for the jaw-dropping price of $17.5 million.

The four-bedroom unit, which is located at the top of a building on Central Park West, featured a very distinctive church-inspired aesthetic, complete with beautiful stained-glass windows that filled each room with a rainbow of light.

Spread across 3,000 square feet of space, the property came complete with an enormous terrace that offered sweeping views of Central Park.

The purchase of the home gave Armani a fair share of privacy, however, giving him control over an entire floor of the condo building, where he already owned another unit adjacent to his new penthouse.

Five years after buying the unit, the designer strengthened his commitment to the Big Apple when he presented a new fashion show in Manhattan in order to celebrate the opening of his new building in the city.

At the time, Armani spoke out about his love of New York, describing it as being one of his greatest sources of style inspiration.

“New York, for me, has always been linked to the many films that have deeply shaped my imagination,” he said, per Reuters. “Thinking of the city in the ‘30s and ‘40s never ceases to inspire me and I evoke that mood in the new collection.”