Armani’s Business and Creative Evolution on Show in Milan a Year After Founder’s Death
The company is weighing multiple investors as it prepares to sell a 15% stake required by Giorgio Armani’s will.
- On Sunday, Italian luxury group Armani prepared to hold meetings with LVMH, L'Oreal, and EssilorLuxottica to discuss selling a 15% stake, as stipulated in late founder Giorgio Armani's will.
- Giorgio Armani, who died at 91 last September, stipulated in his will that an initial 15% stake sale must occur between 12 and 18 months after his death, potentially preceding a market listing.
- Chief Executive Giuseppe Marsocci told reporters on Sunday that the company has no favorites and the stake could potentially be split among all three companies or other investors of "equal standing."
- The company debuted its Spring-Summer 2027 collection in Milan, showcasing the "Evolution" of the brand under new creative director Dario Vitale, appointed earlier this month.
- Any transaction depends on reaching agreement on "price and details," though Marsocci noted the assumption that talks were underway "may have some logic" as the house respects the founder's timetable.
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Armani begins talks with LVMH, L’Oréal, and EssilorLuxottica regarding a minority stake - RetailDetail EU
Within a few weeks, Armani will begin talks with LVMH, L’Oréal, and EssilorLuxottica regarding the sale of an initial 15% minority stake. That stake may be divided equally among all three companies.
The future of Giorgio Armani's empire begins to become clearer one year after the stylist's death. On the steps of Milan, his characteristic elegance defined the most recent collection presented on Sunday (27), while, behind the scenes, talks are planned on the sale of an equity interest, as stipulated in his will. Exclusive material for subscribers. To have full access, please access the link of the subject and register.
On Sunday, September 27, the Financial Times advanced that Armani was preparing meetings with L'Oréal, L'Oréal and EssilorLuxotica to discuss a possible sale, with these three companies dividing the 15% stake.
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