Giorgio Armani to Sell 15% Stake to Three Major Groups Including L'Oreal and LVMH

Deep News05-10

On May 10, it was reported that the Italian fashion brand Giorgio Armani plans to sell a total of 15% of its company shares to three groups: L'Oreal Co., LVMH, and EssilorLuxottica.

This move is intended to fulfill the founder's will, which stipulates that the equity be divided equally into three parts and introduced to the selected acquirers chosen during his lifetime.

It is understood that Giorgio Armani's CEO Giuseppe Marsocci is currently developing a business plan and plans to hire two advisors to oversee the entire share sale process. Subsequently, the advisors will present this five-year commercial plan to potential investors. Before formally launching the sale process, the group intends to split the 15% stake equally into three portions.

According to the founder's will requirements, the equity sale must be completed within 12 to 18 months after his passing.

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