Armani has taken the first steps towards selling a minority stake. The Italian fashion group already approached L’Oréal, among others, as the luxury house has a licensing agreement with the cosmetics company until 2050.
Armani’s will is law
The talks are still in the early stages, however: “any progress could take months,” one of the sources involved told Reuters news agency. Private equity funds are out of the picture for now. Investment bank Rothschild is expected to act as advisor.
