Giorgio Armani Considers Selling 15% Stake in Three Equal Parts to LVMH, L'Oreal, and EssilorLuxottica

Deep News05-10

The Italian fashion house Giorgio Armani is considering selling a 15% stake in the company in three equal parts following the founder's passing, with three pre-selected buyers set to become shareholders, an Italian newspaper reported on Sunday.

Armani, who passed away last September at the age of 91, had previously designated French luxury group LVMH, along with two business partners—beauty giant L'Oreal and eyewear specialist EssilorLuxottica—as preferred buyers for the company's shares.

Italian newspaper La Repubblica reported, without citing sources, that Armani CEO Giuseppe Marsocci is preparing a business plan and plans to hire two advisors to oversee the entire share sale process.

Subsequently, the advisors will present Marsocci's five-year business plan to potential investors.

The report stated that before formally launching the sale process, the group plans to divide the 15% stake into three equal portions, in line with Armani's will, which requires the sale to be completed within 12 to 18 months of his passing.

The report suggests that this division method helps ensure the continued interest of all three buyers in the early stages.

At present, Armani Group has not yet responded to requests for comment.

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