The fate of Armani will be decided by LVMH, L'Oréal and EssilorLuxottica
According to the publication, this is the mechanism provided for in the will of the founder of the brand Giorgio Armani, who died last September at the age of 91. The document provides for the sale of the first share in the company’s capital within 12-18 months after the designer’s death.
According to La Repubblica, Armani management is considering the option of dividing the 15-percent stake into three equal parts. This approach will allow to maintain a balance of interests between all potential investors and avoid dominance of one player at the early stage of the transaction.
The newspaper also claims that Armani CEO Giuseppe Marsocci is preparing a new five-year business plan for the group and intends to engage two financial consultants to support the process. The document will then be presented to potential buyers.
Armani has previously named LVMH, L’Oréal and EssilorLuxottica as preferred partners for future equity participation in the company. All three groups already have close ties with the brand: L’Oréal produces Armani perfumes and cosmetics under license, EssilorLuxottica produces the brand’s eyewear, and LVMH remains the largest player in the global luxury goods market.
Armani itself refused to comment on the publication of the Italian press.
