When succession plans become billion-euro bets and creative directors exit faster than fashion trends and the last couturiers leave the stage. The death of Giorgio Armani in September 2025, Prada’s December acquisition of Versace, and the passing of Valentino Garavani in January 2026 aren’t just luxury industry footnotes. In less than five months, Italy lost two of its most iconic founder-designers while witnessing the largest M&A transaction in Italian luxury history. These aren’t isolated events they’re the opening chapters of Italy’s most audacious attempt to rewrite the rules of heritage brand governance, and perhaps its last chance to build a homegrown luxury empire capable of challenging French dominance.
Author: Celine Andrea Antonioli
