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Armani Mulls Multiple Investors for 15% Stake
27 Sep
Summary
- Armani is open to considering more than one investor.
- Founder Giorgio Armani named LVMH, L'Oreal, and EssilorLuxottica.
- Any deal depends on reaching an agreement on price and details.
Italian luxury conglomerate Armani is open to exploring multiple investment opportunities for a 15% stake designated in the late founder Giorgio Armani's will. Chief Executive Giuseppe Marsocci stated that the possibility of engaging more than one investor for this significant share is under consideration. He made these remarks on the sidelines of the Giorgio Armani fashion show.
Armani, who passed away last September, had previously named French luxury giant LVMH, beauty products manufacturer L'Oreal, and eyewear group EssilorLuxottica as preferred potential buyers. Marsocci, who assumed the CEO role last October, affirmed the company's commitment to respecting the timeframe specified within the founder's testamentary wishes.
He further clarified that any potential transaction, regardless of the number of investors involved, will ultimately depend on the successful negotiation and agreement on crucial aspects such as the valuation and detailed terms of the sale. No definitive decisions have been made at this time.
