Updated at 4:16 p.m. ET Sept. 12
Milan – Potential Buyers for Giorgio Armani’s Brand
Following the release of late designer Giorgio Armani’s wills, three companies frequently speculated as possible buyers—LVMH Moët Hennessy Louis Vuitton, L’Oréal, and EssilorLuxottica—have issued statements lauding the brand, signaling a potential competition for one of fashion’s most iconic labels.
LVMH’s Admiration for Armani
Bernard Arnault, chairman and CEO of LVMH, expressed appreciation for Armani, stating, “He referred to us as a potential partner for the exceptional fashion house he built. Giorgio was a true genius, comparable to Christian Dior, who created and led a global brand in both style and industry. Should we collaborate in the future, LVMH pledges to enhance its global presence and leadership.”
EssilorLuxottica’s Response
EssilorLuxottica remarked, “We value the trust Mr. Armani has bestowed upon our group and intend to assess this evolutionary prospect with care, considering our established ties.”
L’Oréal’s Recognition
L’Oréal stated, “For nearly 40 years, alongside Mr. Armani, we have created one of the most iconic beauty brands globally. We are honored to be considered for a stake in his esteemed company and will thoroughly analyze this opportunity built on our shared history.”
Details from Armani’s Wills
Giorgio Armani left two wills, dated March 15 and April 5, both made public recently. Following his death on September 4 at the age of 91, it was revealed that his namesake foundation will oversee the fashion group. According to the wills, within 12 months, an initial 15% stake could be sold to either LVMH, EssilorLuxottica, or L’Oréal, with other fashion and luxury companies also considered for purchase.
Future Governance and Estate Management
The Giorgio Armani Foundation holds a 10% stake in shares, while life tenancies and voting rights are distributed among key individuals contributing to the brand. Governance will continue according to Armani’s established principles, focusing on maintaining the brand’s integrity and promoting ethical management to secure a sustainable future.
Long-Term Vision and Foundation Objectives
The foundation’s primary mission is to further develop the Armani brand internationally while adhering to a careful strategy concerning brand diversification and design consistency. The approach to investments and acquisitions will remain cautious, aimed at nurturing internal growth without compromising the brand’s ethos.
