Giorgio Armani has left instructions for the sale of 15% of the shares, with the option to relinquish another 30-55% or to list the company in the next five years.
Delia Niculescu
International
foto:shutterstock
Always see our news on Google
After his death at 91, Giorgio Armani asked the foundation that controls his fashion empire to sell a 15% stake within the next 18 months. His will suggests that the LVMH group or commercial partners such as L'Oreal and EssilorLuxottica should be prioritized in the search for a buyer. Although the company generated revenues of 2.3 billion euros in 2024, profits have declined due to challenges in the luxury industry. Armani had tight control over the company founded in the '70s.
Sources
Latest News
18:42
Eight electric bicycles valued at 20,000 euros, discovered by border police in Borș
18:40
A 43-year-old woman has been placed in preventive detention in Constanța for attempted drug trafficking.
18:29
Radu Miruță announces that the subway circulation in Bucharest will not be affected by energy restrictions.
18:19
The large stores in Romania are implementing energy-saving measures, such as limiting air conditioning and turning off advertising lights at night.
18:12
The Senate voted to cancel the closure of coal-fired power plants, adopting amendments that allow for their reopening / Ilie Bolojan warns about penalties from the EU
See more news
NEWS ON THE SAME TOPICS
.webp)
Personalized news feed, AI-powered search, and notifications in a more interactive experience.
