Giorgio Armani's Will directs heirs to sell majority stake, consider IPO

The late designer's will calls for an initial 15 per cent sale within 18 months, followed by up to 54.9 per cent more in 3-5 years

Late fashion designer Giorgio Armani's will instructs heirs to sell a 15 per cent stake in the Italian fashion house within 18 months, according to a Reuters report. The will also says that once the initial transaction is completed, another 30-54.9 per cent stake should be transferred to the same buyer within 3-5 years of his demise.

 

Alternatively, the heirs may also consider an initial public offering (IPO) for the fashion house, the will stated.

LVMH, L'Oreal, EssilorLuxottica a priority

According to the will that was reviewed by Reuters, luxury giant LVMH, high-end eyewear leader EssilorLuxottica, and beauty major L'Oreal should be a priority.

 

The Will also directs the heirs to consider other fashion and luxury firms with which Armani has commercial ties for a future sale.

Armani was the sole major shareholder

The late fashion designer was the sole major shareholder of the firm that he had set up with his late partner and Italian architect Sergio Galeotti in the 1970s. Till the very end, Armani maintained a stronghold on all creative and managerial decisions, leaving no one behind to take over the empire. 

 

According to Reuters, the fashion giant generated relatively stable revenue of $2.7 billion in 2024; however, profits shrank amid a broad industry recession.

Giorgio Armani empire

The Giorgio Armani empire spans several distinct brands, each catering to different markets. The flagship Giorgio Armani line offers high-end ready-to-wear, accessories, and bespoke tailoring.

 

Emporio Armani targets a younger, trend-conscious audience with contemporary fashion, while A|X Armani Exchange focuses on casual, urban-inspired wear. EA7 Emporio Armani delivers sportswear and athleisure, and Armani Junior caters to children.

 

Armani also extends into lifestyle with Armani Casa for luxury home décor, Armani Dolci for gourmet chocolates, and Armani Fiori for floral arrangements.