The Giorgio Armani fashion house is considering the sale of 15% of its shares to LVMH, L'Oréal, and EssilorLuxottica, according to the will of the founder.

The Italian fashion house Giorgio Armani is analyzing the possibility of selling a 15% stake in the company to three selected investors by founder Giorgio Armani, who passed away in September last year.

According to an article published by La Repubblica, the designer indicated in his will that the preferred buyers are the luxury group LVMH, the cosmetics giant L'Oréal, and the group EssilorLuxottica. The share package could be divided into three equal parts to maintain investor interest. The sale must be completed within 12-18 months of the founder's death. Armani's CEO, Giuseppe Marsocci, is working on a new business plan and will appoint consultants to coordinate the sales process, which will include a five-year strategic plan.