Italian design house Giorgio Armani has no plans to float in the foreseeable future, a company spokeswoman has told just-style.

She confirmed a Reuters report quoting founder Giorgio Armani as saying he would like to stay at the helm of the global fashion empire for as long as possible and that taking the company public would mean throwing it into the hands "of people who know nothing about fashion."

Last year, Armani was reported to have said he would consider an IPO to fund future growth.

However, the spokesman said the company has never seriously considered such an option.

The revelations come as rival Prada announced early this month it will consider an IPO next year on the back of strong sales growth.

If it goes ahead, it would be its fourth attempt to list.

By Ivan Castano.