Armani open to more than one investor for sale of 15% stake, CEO says
The brand will reportedly meet with LVMH, L’Oreal and EssilorLuxottica to discuss a possible deal
Italian luxury group Armani has indicated it is open to multiple investors participating in the sale of a 15 percent stake as outlined in founder Giorgio Armani's will. CEO Giuseppe Marsocci stated on Sunday that such a deal could involve LVMH, L’Oreal, and EssilorLuxottica, though the final decision has not been made. Armani, who passed away in September at the age of 91, had previously named these three groups as preferred buyers.
The CEO reiterated the company's intention to adhere to the timeline set by the late founder, pending agreement on price and other details.
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Also reported by 3 other outlets
- Armani Open to More Than One Investor for Sale of 15% stake, CEO Says businessoffashion.com
- Armani open to more than one investor for sale of 15% stake, CEO says cnbc.com
- Armani open to multiple investors for planned 15% stake seekingalpha.com
