Goa, Sept. 4 -- Italian fashion icon Giorgio Armani has passed away at the age of 91, the Armani Group announced on Thursday. "With infinite sorrow, the Armani Group announces the passing of its creator, founder, and tireless driving force: Giorgio Armani," the company said.

Armani, celebrated worldwide for his modern Italian style and timeless elegance, was not only a visionary designer but also a shrewd businessman. His fashion empire generated annual revenues of approximately €2.3 billion ($3.7 billion Cdn).

In June, the designer had missed Milan Men's Fashion Week for the first time in his career due to health issues. Fondly nicknamed "Re Giorgio" (King Giorgio), Armani was renowned for personally overseeing every detail of hi...