EssilorLuxottica Considers Strategic Move on Armani Legacy
EssilorLuxottica considers an investment in Giorgio Armani as the designer's will earmarks the eyewear maker for a sale or public listing of the group. This follows over three decades of collaboration between the late Armani and Luxottica's founder.
- Country:
- Italy
EssilorLuxottica is contemplating a significant investment in Giorgio Armani following the fashion mogul's passing. In his will, Armani highlighted EssilorLuxottica as a potential buyer for his renowned fashion group, proposing either a gradual sale or a public listing of the company.
EssilorLuxottica, already a close partner through an ongoing licensing agreement for Armani-branded eyeglasses, expressed pride in being considered by Armani. A spokesperson stated that the board will evaluate this promising opportunity, underscoring the existing relationship between the entities.
The collaboration between the two has a rich history, dating back to an initial agreement made in 1988 by Armani and Leonardo Del Vecchio, Luxottica's late founder. The current licensing agreement is set to continue until 2038, ensuring a sustained connection.
(With inputs from agencies.)
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