Giorgio Armani's Legacy: A Strategic Shift in Italian Fashion
The late designer Giorgio Armani's will instructs his heirs to gradually sell the iconic fashion brand or pursue a stock market listing. Priority buyers include LVMH and L'Oreal. This marks a shift from Armani's historical reluctance to dilute control or list the company.
Giorgio Armani's recently reviewed will details a bold plan for the future of the iconic fashion brand he founded over 50 years ago. The heirs are directed to sell a portion of the business or explore a stock market listing, a significant pivot for the company renowned for its independence.
The will specifies that within 18 months, an initial 15% stake should be sold, followed by a transfer of an additional 30% to 54.9% stake within five years. Priority potential buyers include luxury leaders like LVMH and L'Oreal, signalling a significant shift from Armani's past stance against sharing control.
This decision is notably contrasted against the late designer's previous refusals to sell or list the company, despite multiple offers from high-profile interested parties in the fashion industry. The move signals a strategic change aimed at securing and preserving Armani's legacy.
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