The late Italian designer Giorgio Armani has reportedly instructed his heirs to sell a 15 per cent minority stake in his vast fashion empire, a notable shift from his lifelong resistance to suitors. His business will prioritises French conglomerate LVMH, eyewear giant Essilor-Luxottica, or cosmetics firm L’Oreal.
According to the will, published online Friday by Italian daily La Repubblica, 40 per cent of the business goes to long-time collaborator and menswear head, Leo Dell’Orco. Niece Silvana Armani, head of womenswear, and nephew Andrea Camerana each inherit 15 per cent.
