Giorgio Armani’s will says his brand should be sold or seek IPO

Giorgio Armani (pictured) maintained tight managerial and creative control of his business throughout his career. Photograph: Claudia Greco/Reuters

The Italian fashion house Giorgio Armani could soon be sold or become a publicly listed company, according to the late founder’s will.

The fashion designer, who died last week at the age of 91, said in the document that he wants his heirs to sell a 15% stake in the business within 18 months.