Giorgio Armani's Legacy: A Strategic Stake Shift
Late Italian fashion designer Giorgio Armani has mandated that 15% of the luxury group be sold within 18 months. The foundation is also tasked with disposing another 30-55% or listing the company within five years. Armani's will prioritizes LVMH, L'Oreal, and EssilorLuxottica.
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- Italy
In a strategic move that could reshape the future of his luxury empire, the late Italian fashion designer Giorgio Armani has outlined specific instructions for the foundation presiding over his brand.
Armani's will stipulates the sale of a 15% stake in the company within the next 18 months. Furthermore, the foundation is under directive to either sell an additional 30-55% stake or pursue a public listing within a five-year timeframe.
The potential buyers prioritized in this transition include France's LVMH and Armani's longstanding commercial partners L'Oreal and EssilorLuxottica, marking a pivotal moment for the brand.
(With inputs from agencies.)
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