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
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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.
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