Giorgio Armani’s will requests that his fashion empire be sold or listed on the stock market.
Armani, who died last week aged 91, instructed his heirs to sell the Italian fashion house to either Bernard Arnault’s LVMH, beauty firm L’Oreal or eyewear company EssilorLuxottica – owner of Ray-Ban.
Anault last night said: ‘LVMH would be committed to further strengthening [Armani’s] presence and leadership around the world.’
In good company: Giorgio Armani (pictured with Hollywood’s Julia Roberts) was the brand’s sole shareholder
Armani was the brand’s sole shareholder.
If a sale falls through, however, the company must be listed – but the Giorgio Armani Foundation will retain 30 per cent of voting rights.
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