Armani Plans Talks with LVMH, L’Oréal and EssilorLuxottica Over 15% Stake

Giorgio Armani’s heirs plan to meet LVMH, L’Oréal and EssilorLuxottica to discuss selling an initial 15% stake in the fashion group, following founder Giorgio Armani’s succession instructions. Chief Executive Giuseppe Marsocci stated the holding could be shared among investors, though terms remain undecided. The will prioritizes these three groups but allows for comparable buyers, with a deadline of March 2027 that may extend due to market conditions. A possible split would grant each party a 5% holding. Valuation gaps persist, with insiders suggesting €10 billion against investor estimates of €3–7 billion. EssilorLuxottica holds an eyewear agreement until 2038, while L’Oréal’s beauty licence runs through 2050. Further sales of 30% to 54.9% are planned over three to five years.