Giorgio armani has reportedly outlined a plan in his will concerning a potential sale of a stake in his namesake fashion house, signaling a possible shift in ownership for the italian luxury brand. The will, revealed to Il Sole 24 Ore, details a complex structure intended to preserve the company’s identity and Italian heritage.
the move comes as Armani, 89, prepares for the future of a company he founded in 1975 and has steadfastly kept independent, resisting acquisition offers from groups like LVMH Moët Hennessy Louis Vuitton and the former Gucci Group, as well as L’Oréal. The will’s provisions aim to navigate a succession plan while safeguarding the brand’s creative direction and Italian manufacturing base, a key concern for the designer.
According to the report, Armani’s will establishes a foundation that will hold a significant portion of the company’s shares. This foundation will then have the authority to sell a stake, but with strict limitations designed to ensure the buyer aligns with Armani’s vision. Potential investors would be vetted based on their commitment to maintaining the brand’s Italian identity, production, and creative control.
The will reportedly prioritizes offers from Italian investors, though international groups demonstrating a clear understanding of the brand’s values would also be considered.The financial details of a potential sale have not been disclosed, but analysts suggest a stake in Giorgio Armani could be valued in the billions of euros, given the brand’s strong global presence and enduring appeal.
