Armani is preparing to hold talks with LVMH, L’Oréal and EssilorLuxottica about selling a minority stake in the luxury fashion house, according to multiple reports. The discussions are expected to begin in the coming weeks as the company moves to implement instructions left by founder Giorgio Armani after his death last year.
The Guardian reports that Armani’s will requires the sale of an initial 15% stake within 18 months of his death. It also states that if a private sale does not result, an initial public offering is mandated. Retail Gazette similarly notes that the planned meetings align with the founder’s stated preferences for potential buyers, which include the three firms now reportedly being approached. While the reports focus on the process for finding buyers for part of the company, they do not describe deal terms or whether the parties have reached any agreement. The coverage frames the move as part of Armani’s response to uncertainty about its future ownership.
