Giorgio Armani's life partner Dell'Orco named Foundation's chair
The Giorgio Armani Foundation named late designer Armani's business and life partner Pantaleo Dell'Orco as its new chairman, Reuters reported. The foundation, which was chaired by Armani until his death, controls 30% of the voting rights of his $10 billion business empire. The designer's will instructed heirs to sell a 15% stake with priority given to few luxury conglomerates.