Giorgio Armani – the founder of the luxury Italian fashion house that bears his name – says he plans to retire within the next two or three years. The 90-year-old, who is Italy’s most famous fashion designer, has previously “fought off” questions about succession plans for the company.

He has been firmly in control of his empire since he founded it almost 50 years ago. But with no children to pass her down, there has long been speculation about her long-term future.

Armani told the Italian newspaper Corriere della Sera: “I can still give myself two or three years as the head of the company. No more, that would be negative. I can’t sleep at night. I no longer know the deep and restful sleep I once had. Now I dream at night and in my dreams I build my future.”

Armani stated that he sees a future of work in which “I will no longer have to be the one to say ‘Yes’ or ‘No'”. Keen to preserve the company’s future independence, he told the Italian newspaper that he has “created a kind of structure, a plan, a protocol” to regulate his succession, but did not elaborate.

Armani first studied medicine before dropping out and joining the army. Moving on to window dressing and merchandising, he founded his company in 1975, presenting his first ready-to-wear collections under his own name the following year.

View this post on Instagram

A post shared by Giorgio Armani (@giorgioarmani)

A celebrity favorite on the red carpet, Armani has developed collaborations with various stars over the years, including Richard Gere, Eric Clapton and Lady Gaga. Armani’s heirs are expected to include his sister, three other family members who work at the company, his longtime partner and partner, Pantaleo Dell’Orco, and a charitable foundation.

View this post on Instagram

A post shared by Giorgio Armani (@giorgioarmani)