Italy's ANSA news agency confirmed his Thursday death, but did not report the exact cause of it.
The one-time Olympic runner founded the Missoni fashion house in 1953 with his wife, Rosita. Together, they designed and manufactured distinctive colorful knitwear with zig-zag patterns for decades.
"I've never done what was fashionable," Missoni once told the fashion publication WWD. "I didn't want to work with preset schemes and I paint my own way."
This is the second sad event to hit the Missoni family this year.
The designer's eldest son Vittorio, the 58-year-old chief executive officer of the Italian fashion house, and his wife, Maurizia Castiglioni, were aboard a small plane that went missing off the Venezuelan coast in January.