Armani CEO says 15% stake could be sold to multiple investors

Armani’s board is preparing to execute the sale of a 15% minority stake that Giorgio Armani stipulated in his will, to occur between a year and a half after his passing. The CEO, Giuseppe Marsocci, indicated that the transaction does not have to be limited to a single buyer and could be divided among several parties. French luxury conglomerate LVMH, cosmetics giant L’Oreal and eyewear leader EssilorLuxottica have been identified as preferred candidates, but the company remains open to other equally qualified investors.

Meetings with the three groups are expected shortly, though no offer has been finalized. Any deal will depend on agreement over price and specific conditions. The move is presented as a way to preserve the founder’s vision while pursuing growth, especially in the accessories segment.