A year after the death of Giorgio Armani, the Italian fashion house he founded in 1975 is facing increasing uncertainty about its future ownership.
In his will, Armani, who ruled over the business for 50 years, instructed his heirs to sell an initial 15% stake of the company within 18 months of his death. If a private sale does not materialise, an IPO is mandated to take place. Now there are reports the group is readying itself for formal talks with the French conglomerate LVMH, the beauty giant L’Oréal and the eyewear group EssilorLuxottica – three of Armani’s preferred acquirers – over the possible sale of a minority stake.
