Giuseppe Marsocci, the deputy general director of the Armani Group, will take over the leadership of the fashion house after the death of Giorgio Armani, according to sources.

Giuseppe Marsocci, the current deputy general director of the Armani Group, will succeed Giorgio Armani at the helm of the fashion house, according to a Reuters source. His appointment is set to be approved by the Board of Directors. Marsocci, with over 35 years of experience in the fashion industry, has been working at the Armani Group since 2003 and will lead the company during a period of changes, including the sale of a 15% stake in shares. Giorgio Armani's will stipulates the sale of an initial 15% stake within 18 months of his death, with the option to sell between 30% and 55% of the company later. Priority in acquisition goes to the LVMH conglomerate, L'Oréal, and EssilorLuxottica. The Armani brand is valued between 5 billion and 12 billion euros, and compliance with the provisions of the will is considered mandatory. Pantaleo Dell'Orco, a close collaborator of Armani, has been appointed president of the Armani Foundation, which plays an important role in the succession plans.