Giorgio Armani Documentary - Success Story

Hi, I'm Evan Carmichael. Welcome to another edition of Modeling the Masters. I believe that the fastest and most effective way to grow your business is to model the strategies of people who've already done what you're trying to do. So today we're going to look at how a young man who grew up during World War II, didn't have much in terms of money and didn't come from a wealthy background, went on to become a legend in the fashion industry. This is the story of Giorgio Armani and the top 3 lessons you can learn from his success.

Giorgio Armani grew up in a small northern Italian town of Piacenza. Armani grew up in a family of 5 that was hardworking but never had too much money to go around. His childhood was not an easy one. The realities of the Second World War in which Italy was caught at the time were all too apparent to the young Armani. After losing two young friends to a war bomb, Armani and his sister also became the target of machine gun fire from an overhead plane. However, Armani and his family survived the war and relocated to Milan. It was a city decidedly marked by class division and one in which Armani's parents struggled to rebuild their lives. They found it hard to find their footing in this much bigger and tougher city than their little town of Piacenza. And so he enrolled in a medical school at the University of Bologna where he studied for two years to become a doctor. However, when he discovered that the sight of blood made him weak, Armani knew that line of work was not for him. In 1953, Armani was called to fulfill his military obligations, which he accepted eagerly as a chance to clear his head and gain new direction in his life. For all of his experience, Armani was assigned to the infirmary. However, he quickly grew bored with his prospects and realized that war life was not the romantic notion he had seen in the movies. He took a short break from the service and took a trip to Milan that would forever change his life. That was where he met a friend of his who happened to work at Milan's largest department store and who would give him his first break into the fashion industry. After the meeting, Armani said that he had become a believer in destiny. That destiny has made him known for his classically tailored, sleek power suits and clean, high-quality fabrics that everyone from the who's who of Hollywood to the bankers on Wall Street have fallen in love with. Now, Giorgio Armani's company has over $1.5 billion in revenue and a retail empire that extends to more than 35 countries.

By following his passion and by having the courage to switch careers, Giorgio Armani was able to go from almost poverty to building one of the most successful businesses in the fashion industry. To help you explode your business, here are 3 action items that you can learn from Giorgio Armani.

Action item number 1: Stick to your vision. As an entrepreneur, it's important to have a vision that guides your business decisions. What bigger game are you playing? What kind of mark do you want to leave on your industry? What do you stand for as a person? Answering these questions and keeping your vision top of mind will help make the difficult decisions easier while you're in the day-to-day of running your business. For over 30 years, Armani has made a name for himself as a designer whose clothing was elegant and yet subtle. From day one, he has stood out from his competitors, including the likes of Gianni Versace, who chose instead to emphasize the sexuality of clothes over their austerity, and has increased the risqué nature of his designs each year. Armani's approach to fashion was a pragmatic one. His vision was to create clothing that was both classic, that would stand the test of time, and that was meticulously designed. That was a vision he stayed true to throughout his entire career. Unlike many of his competitors, Armani believed that fashion should evolve over time rather than change drastically each and every year. According to Armani, "Remain true to yourself and your philosophy. I design for real people. I think of our customers all the time. There is no virtue whatsoever in creating clothing or accessories that are not practical. You have to think of the future. If not, we would close down. I find it gratifying that I have launched a lasting style, But of course, I feel the need to reach forward, to question myself, to take risks. I always want to refresh and renew. Action item #2: Stretch your brand. The easiest way to grow a business is to sell more products and services to existing clients. Provided that it fits your long-term vision and it adds more value to your customers, look for ways to expand your business by adding new offerings. If your clients are happy with what they've already bought from you, then they'll line up to keep working with you. You're not just growing a business, you're finding new ways to help customers solve problems. There was never any doubts when it came to Armani's talents as a designer. However, when his partner in both life and business passed away, Armani was left to defend his talents as a businessman. He had little to no business experience but didn't want to give up on his dream of expanding his company. To this end, Armani decided to create new product lines, including many less exclusive and less expensive spin-offs of his luxury label. He introduced Armani Jeans for casual clothes and Armani Exchange, which consists of trending urban clothing. While he is primarily still known the world over for his fashion designs, Armani has moved on from clothing to launch product lines that include accessories, home furnishings, restaurants, car interiors, chocolates, and most recently, hotels. According to Armani, "When I began making jeans, the press was skeptical that someone who made luxury ready-to-wear could start something so commercial, but I considered it a medium to speak with a less affluent clientele. I have always paid great attention to having brands that don't overlap. I choose a brand for a particular market and balance my collections in terms of look, price, distribution, and location. When the supply of fashion items becomes so enormous, the consumer tends to choose the leading brand, which means that others are left behind, and to establish real credibility is no simple matter. Action item number 3: Follow your conscience. As you grow your business, your values will be tested numerous times. Do you say yes to a deal that might make you a lot of money but isn't in line with what you believe in? When things aren't black and white, how far are you willing to walk down the gray line? Let your conscience be your guide. New opportunities will continue coming to you. You don't need to compromise who you are to be a successful entrepreneur. Armani believes that the heart of all successful businesses are successful relationships. Thus, establishing positive interactions between his company and its communities and consumers is a significant step towards generating healthy business growth. To this end, Armani has committed his company to what he believes are positive social ideals. Armani's at the forefront of companies demonstrating the potential to be a force for change. He's refusing to operate in a bubble, designing luxury clothes for consumers irrespective of the world in which they all live. Much like he stood up in the face of critics who thought he would never make it as a businessman, so too is Armani now standing up for the social issues he believes in, and proving that any company can do the same. According to Armani, "It is a fact that in the West we live in a capitalist society, but that doesn't mean that we cannot be guided by the idea of a social conscience in our work. Yes, fashion design requires consumers to consume, but we can do our bit for society by running our companies in a socially responsible way and by creating products that promote respect for social and on environmental issues. The best way to make a contribution in fashion is to promote the idea that a fundamental interest in preserving the environment is itself fashionable. So remember, stick to your vision, stretch your brand, and follow your conscience.

To finish up this video, I wanted to share one of my favorite true stories about Giorgio Armani and some of his most inspirational quotes.

Armani has designed clothing for some of the most influential people on the planet, but according to Armani himself, some of his proudest designs were for Princess Charlene of Monaco. He's been clothing her since she first wore one of his pieces in 2008 at the Olympic Games in Beijing. He spoke to Vogue magazine about designing her wedding gown and believes Princess Charlene "knows how to wear my creations with nonchalance and confidence of youth." Getting to the point where royalty requests a specific designer's clothing is considered the pinnacle of a designer's career. But Armani continues to challenge the market and reinvent his designs, which was shown in his design for Princess Charlene's wedding dress. According to Armani, "I felt the new design was appropriate given that there would inevitably be comparisons with Princess Grace, and though such comparisons are of course a sign of admiration, each person has their own individual and unique style, and style is an expression of the times." He goes on to say it was one of his greatest creations.

Thank you for joining me for another edition of Marlin the Masters. If you like the video, you want to see more, please give it a thumbs up below. It makes me want to do more of these videos for you guys. I'd also love to hear what you have to think if you want to leave a comment under the video. So thank you and we'll see you on the next episode.