Giorgio Armani’s will outlines two options for future of fashion brand
Giorgio Armani left clear instructions for his heirs
- Giorgio Armani's will instructs his heirs to either gradually sell his fashion brand or pursue a stock market listing.
- The will specifies an initial 15 per cent stake sale within 18 months, followed by a further 30 to 54.9 per cent stake transfer within three to five years.
- Priority for acquisition should be given to luxury giants such as LVMH, L'Oreal, EssilorLuxottica, or an equivalent group.
- This directive marks a significant shift from Armani's long-standing commitment to maintaining the independence and private ownership of his company.
- With no children to inherit, the will grants the Fondazione Giorgio Armani and his life partner, Pantaleo Dell'Orco, 70 per cent of the group's voting rights.