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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Rebecca PayneTue, September 30, 2025 at 4:30 PM GMT+2 6 min readIconic Italian fashion designer Giorgio Armani kept tight control of the brand he founded 50 years ago. He never took the company public and remained the sole major shareholder until his death on Sept. 4 at the age of 91.Some parts of his will were run-of-the-mill: Pantaleo Dell'Orco, Armani’s life partner of five decades, will retain a 40% stake in his company, Reuters reports.Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's howI'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast)Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and 3 simple steps to fix it ASAPBut other parts of his final wishes came as a shock to the fashion world. The will stipulates that Armani’s heirs must either sell their stakes in the company in stages, or seek to list the company on the stock market.The will is very specific. Within 18 months of Armani’s death, his heirs must sell an initial 15% stake of the company to one of a small group of luxury conglomerates: LVMH (the parent company of Louis Vuitton, Dior, and dozens of other brands), French beauty behemoth L'Oreal, luxury eyewear giant EssilorLuxottica, or another firm of “equal standing,” according to Reuters.Another sale of an additional 30% to 54.9% stake must be made to the same buyer within three to five years. The heirs can opt, instead of selling the second stake, to publicly list the company.The inclusion of French firms LVMH and L'Oreal was somewhat surprising to industry watchers. Over the years, Armani had rejected purchase offers from various Italian firms, including fellow luxury fashion house Gucci [1].Armani’s will states that a foundation set up to preserve the brand’s “founding principles” will retain a 30% stake in the company — even in the event of a sale or listing.While Armani’s will came as a surprise to the world, it likely was not a shock to his partner or family members, who sit on the board of his foundation, which was created in 2016 to ensure the succession of the designer’s estate [2].Here’s why it is important to plan well ahead when it comes to your estate — and ensure there are no surprises for your heirs when you pass.A will is an essential legal document. 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