Armani begins talks with LVMH, L’Oréal, and EssilorLuxottica regarding a minority stake

Within a few weeks, Armani will begin talks with LVMH, L’Oréal, and EssilorLuxottica regarding the sale of an initial 15% minority stake. That stake may be evenly divided among all three companies.

No final decision yet

According to Armani’s will, an initial 15% stake must be sold within 12 to 18 months of his death, after which a larger sale or an initial public offering (IPO) may follow. The CEO had designated LVMH, L’Oréal, and EssilorLuxottica as preferred buyers but left the door open for other investors of equivalent standing.