Italian fashion designer Giorgio Armani has announced that he will be launching an eponymous foundation. The move is to allow for the smooth succession of a business empire that includes fashion and beauty to design and hotels.

At 82, Armani is still very much involved in the running of the business and is currently the only shareholder of the group which he created in 1975. The foundation, which will likely handle all business aspects of the Armani Group, will ensure that key principles, the ethos and DNA of the brand will remain even after the founder has handed over the reins. 

The move comes just weeks after the Italian designer released the first look at his New Normal campaign...