Recent claims that Giorgio Armani was to retire have been denied by the Italian designer himself. "I will let you know when the time will come. I am still around and plan to be for a while," said Armani from Rome, denying any intention of selling his fashion brand.

"I wish to categorically deny any such rumours," he said during the presentation of the exhibition on his works since 1975 held by the Guggenheim Foundation. "I have no intention of giving up the best thing in my life, which is my trade," he said.