The Clothes Really Do Make The Man

Giorgio Armani's Fashion Empire Built On Heart And Hard Work

(CBS) 
Armani's lack of formal training, "shocks" people he says, adding, "I learned everything on my own."

In 1966, Armani met Sergio Galeotti, an architectural draftsman who became his partner in work and in life. It was Galeotti who encouraged Armani to start designing on his own. And in 1975, they formed the Giorgio Armani Company, first making menswear, then launching a line of women's clothes focused on recutting the traditional men's suit jacket.

Armani says it was a response to the emerging feminist movement: he thought women needed their own sexy version of boardroom attire.

"When I started blending men and women's fashions many years ago, the public often became uneasy and perplexed," Armani admits.

We may be used to the Armani look now, but it was so revolutionary that it put him on the cover of Time magazine in 1982. He has designed clothes for more than 150 films, including Richard Gere's suave suits in "American Gigolo."

"I tried them on and all of a sudden this character started coming alive, this very contemporary guy. You know, that was the beginning of me getting into that character, was actually his clothes," Gere explains.

Armani gave Samuel L. Jackson a sleek new look in "Shaft 2000."

"He has found a way to incorporate the classic things from all those times into contemporary times," Jackson says of Armani.

But it's not just in the movies. So many Hollywood stars have worn his clothes to the Academy Awards over the years, that Armani was asked to write the forward to Vanity Fair's book "Oscar Night," which definitely boosted sales, especially for Armani-signed copies.

At Bergdorf Goodman in New York, adoring fans lined up for hours to get a peek and maybe a peck from their favorite designer -- fans including actress Glenn Close.

"I have the first Armani black double-breasted blazer that I bought and I wore it just the other day and felt fantastic in it," Close intimates. "It looks a little retro now," she says laughing.

Armani has been honored with museum exhibits all around the world and raked in a slew of awards. When he received one from Fashion Group International, devotees from music star Usher to actresses Michelle Pfeiffer and Julie Andrews, to director and close friend Martin Scorcese came to pay tribute.

"It's an interesting thing he does with texture, the use of color and fabrics," Scorcese remarks of Armani. "It's so inventive, and yet his classical line goes through -- it's like it could be from the 1930s to the 2030s."

All of this is particularly nice, because not everyone expected the Armani brand to endure. In 1985, Galeotti died of cancer and sparked rumors that Armani's thriving business would soon fold.

"When Sergio died, I lost the person who was not only close to me personally, but also professionally. I also had to fight against public opinion that I would fail, that I was a good designer, but not a good manager. It was a big gamble," Armani says.

The gamble paid off.

Armani's Milan-based empire has now made him the richest man in the fashion industry with a net worth estimated at more than four and a half billion dollars. And it's not just fashion.

The designer's elegant Milan apartment helped inspire a string of shops devoted to Armani home design products. And when he made an appearance at the New York store -- a very unexpected fan showed up: famed architect Frank Gehry. The two had never met before, but Armani joked that they should work together.

The accolades and endless praise keep Armani ambitious, and wary. Success is no guarantee and for that reason, he has not slacked off a bit. At 71, Armani has no plans to retire.

He's still a perfectionist who cares about every element of how his collection is presented and takes nothing for granted.

To this day, every time Armani releases a new line, fear of rejection courses through his veins.

"I am terrified," he says.