Armani at Forte, a 12-15 million deal

In the end, the rumors found confirmation. La Capannina in Forte dei Marmi, also known as La Capannina di Franceschi after its founder’s name, belongs to Giorgio Armani who, according to the daily newspaper La Nazione, reportedly invested between 12 and 15 million euros, against an asking price of 20 million, to purchase the venue to which the designer and entrepreneur from Piacenza was particularly attached, also for sentimental reasons.

La Capannina is an iconic place of Italian summer. Founded in 1928 by Achille Franceschi and acquired and managed since 1977 by Gherardo and Carla Guidi, it now belongs to Giorgio Armani, who will relaunch it from next season, when Forte will therefore have a new major investor in Versilia and on the beach of Tuscany’s premier coastal destination.

“La Capannina – reads an Armani statement – has been a symbol of Italian high society for almost a century and a crossroads of artists and intellectuals. For Giorgio Armani, who has always been tied to Forte dei Marmi as a personal refuge and vacation spot, this acquisition represents an emotional gesture, a return to his roots: there in the 1960s he met his friend and partner Sergio Galeotti, and a tribute to Italian tradition”.

The negotiation has been carried out for over a year by the group headed by the designer, who is also active in hospitality with Armani Hotels and in food&beverage with Armani and Emporio Armani restaurants and cafés. Managing the negotiation, after Gherardo Guidi’s passing last October, were his widow Carla and daughter Cristina. Among those initially interested was reportedly Leonardo Maria Del Vecchio, who then acquired Twiga.