For anyone wondering what will happen to his empire when Giorgio Armani decides to retire, the Italian designer's recent revelations provide the answer.

Armani told Le Monde that he plans to sell the business entirely. He does not wish to burden his nieces and nephews with the running of a 4,500 man workforce. Neither does he wish to float the company on the stock market, as this would weaken the group and would put it at the mercy of those "who do not always understand the business of fashion". It is also inconceivable to him to be a minority shareholder in the company that he founded, so the only solution is to sell the business lock, stock and barrel. However, Armani would only consider selling to someone who understood that the business should be left in its present state, with the current team intact.

In the meantime he plans to re-invest 70% of the group's cash flow in order to remain independent.