Armani may have more than one buyer for 15% stake
What's the story
Armani, the renowned Italian luxury group, is open to involving more than one investor in the sale of a 15% stake. The move was hinted at by CEO Giuseppe Marsocci during a Giorgio Armani fashion show. He said, "It is not written in stone that it has to be one investor," when asked about the possibility of dividing the stake among three investors.
Will stipulations
Giorgio Armani's will specified luxury groups as potential buyers
The late Giorgio Armani, who passed away in September 2025 at 91, had specified in his will that a 15% stake should be sold within 12 to 18 months of his death.
He named French luxury group LVMH, beauty products maker L'Oreal, and eyewear group EssilorLuxottica as preferred buyers.
However, he also left room for other investors of "equal standing."
Timeline adherence
Marsocci committed to following Giorgio Armani's timeline
Marsocci, who took over as CEO last October, has committed to sticking to the timeline set by his predecessor.
He said any transaction would depend on agreeing on "price and details."
The Financial Times reported that Armani was planning meetings with LVMH, L'Oreal, and EssilorLuxottica in the coming weeks for a possible minority stake sale.
One informal option discussed was having all three groups share a 15% holding.
Strategic moves
EssilorLuxottica may collaborate with other bidders
Earlier this month, Reuters reported that EssilorLuxottica might consider teaming up with other bidders.
This comes as part of a broader succession plan outlined in Armani's will.
The late founder had also appointed former Versace designer Dario Vitale as the creative director for Emporio Armani as well as Giorgio Armani accessories.