Armani tells heirs to sell part of his fashion empire
After assigning a life-long business break, Late Italian designer Giorgio Armani says to his heirs to sell a 15 percent minority shares in the wide fashion empire by giving priority to French Holding Lvmh, French Holding Lvmh, glasses giant Essilor-Luxottica or Cosmetic Company L’Oreal.
Armani, 40 percent of the business empire for a long time collaborator and men’s clothing Leo Dell’orco’nun president and each nephew Silvana President, Women’s Clothing President Armani and nephew Andrea Camerana, on Friday by the Italian daily La Repubblica online.
The Armani Foundation, which was founded as a consecutive vehicle in 2016, will control the remaining 30 percent.
Armani, one of the most well -known names and faces in Italian style, died on September 4 at the age of 91.
Two wills were deposited to Italian tax officials on Thursday and the Italian media on Friday.
Armani Group refrained from commenting.
Both were rewritten by Armani at the beginning of 2025, partly behind a sepia -colored envelope.
Armani remained rare in the Italian style by keeping the strict control of the fashion empire in the face of the progress of Lvmh and Gucci and Kering himself, as well as the Fiat’s heirs.
However, the Armani Foundation said that the Armani Foundation should sell 15 percent of shares before a year and in 18 months after his death, preferring a LVMH, Essilor-Luxotica or L’Oreal or “similar stance”.
Armani and Red Carpet customers and his sister Rosanna, a long -term task of contact Roberta, a share of 15 percent of the company was allocated.
Armani, with 2.5 percent of the French-Italian glasses giant, worth 2.5 billion euros ($ 4.4 billion), 40 percent of it goes to Dell’orco and the rest to the family members-only part of the distribution of houses in Sicilian Rivian.
The last Emporio Armani and Giorgio Armani collections designed by Armani will be presented at Milan Fashion Week opened on September 23rd.
Armani stated that his future collections should be directed by “with a basic, modern, elegant and simple design by drawing attention to details and wearable”.
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