Armani's Will Calls For 15% Sale To Major Fashion Group
12 Sept 2025 4:07 PM IST12 Sept 2025 4:07 PM IST
He named French luxury giant LVMH, cosmetics group L'Oreal and eyewear firm EssilorLuxottica as his preferred buyers, according to excerpts of the will published by Italian media following his death on September 4 at age 91
The new shareholder would then have the possibility of taking, within five years, a majority stake in the group -- which Armani built up over five decades and which was notable for its independence during his lifetime. — Internet
MILAN, Italy: Late Italian designer Giorgio Armani instructed the foundation that is inheriting his luxury company to sell 15 percent to a major fashion group, according to his will made public Friday.
He named French luxury giant LVMH, cosmetics group L'Oreal and eyewear firm EssilorLuxottica as his preferred buyers, according to excerpts of the will published by Italian media following his death on September 4 at age 91. The sale must take place between 12 and 18 months.
The new shareholder would then have the possibility of taking, within five years, a majority stake in the group -- which Armani built up over five decades and which was notable for its independence during his lifetime.
( Source : AFP )
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