Giorgio Armani's Legacy Spurs Bidding War Among Luxury Giants
The will of late designer Giorgio Armani outlines a plan for the gradual sale or market listing of his fashion house, valued at up to 12 billion euros. LVMH, L'Oreal, and EssilorLuxottica emerge as potential buyers, setting the stage for a significant shift in the luxury brand's future.
Giorgio Armani's will has set off a potential bidding war involving luxury giants such as LVMH, L'Oreal, and EssilorLuxottica.
Despite Armani's historical reluctance to sell, the will outlines a strategy for selling up to 54.9% of the company, valued at between 5 billion and 12 billion euros.
With the potential sale, the fashion house could see a significant transformation while maintaining its commitment to Italian roots and style.
(With inputs from agencies.)
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