ITALIAN billionaire fashion designer Giorgio Armani has died at the age of 91.
Armani was a fashion legend and has his name among the icons of the industry.
His company started out as a business focussed solely on fashion but expanded into beauty, fragrance, music, sport and luxury hotels.
Armani turned over more than £2 billion a year as he became world renowned for his genius designs and sharp acumen as a businessman.
Fellow designer Donatella Versace said: "The world lost a giant today. He made history and will be remembered forever."
Who was Giorgio Armani?
The late Giorgio Armani began his route into design by working for luxury fashion house Cerruti in 1881.
He would swiftly move on to start his own company, Armani, in 1975 which would grow to become an iconic luxury fashion house of its own.
The fashion legend dressed some of the biggest celebrities in the world for the red carpet, including Cate Blanchett, Lady Gaga and Zendaya.
He had been unwell for a while before passing away in his home, but his fashion house said he "worked until his final days".
Armani was in the process of planning a significant event to celebrate 50 years of his signature Giorgio Armani fashion house during Milan Fashion Week this month.
He was forced to drop out of his group's shows at Milan's Men's Fashion Week in June, missing one of his catwalk events for the first time in his career.
What was Giorgio Armani's net worth?
Giorgio Armani's net worth was estimated at £8.1 billion as of June 20, according to the Bloomberg Billionaires Index.
However according to Forbes magazine, his estimated net worth was closer to £10.5 billion.
If correct, that figure would've made him the third wealthiest Italian after Giovanni Ferrero and Andrea Pignataro.
Among his assets were luxury hotels, basketball team Olimpia Milano, a 200ft yacht and his almost 100% ownership of his own company Armani.
Who will inherit the Armani Group?
Armani never married nor did he have children to inherit his multi billionaire company.
Fashion United reported that all ownership of Giorgio Armani will continue to be under the Giorgio Armani Foundation.
Armani's relatives, his sister Rosanna, nephew Andrea Camerana, nieces Silvana and Roberta are all expected to continue their roles.
His long-term creative partner Pantaleo "Leo" Dell'Orco, will also likely remain in his current role.
In an interview before his passing, Armani told Financial Times, "My plans for succession consist of a gradual transition of the responsibilities that I have always handled to those closest to me…such as Leo Dell'Orco, the members of my family and the entire working team."
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