Giorgio Armani's will requires that a 15% stake in his company be sold within 18 months of his death, according to Fortune. LVMH, L'Oréal and EssilorLuxottica have been named as potential buyers.
Armani Chief Executive Giuseppe Marsocci said backstage at a runway show that there were no favorites among the potential buyers and that the stake could be split among all three companies, according to Fortune and CNBC.
The Financial Times reported that Armani is set to begin stake sale talks with LVMH and L'Oréal.
Independent Journal Review reported that Armani's heirs are weighing a sale of the 15% stake to LVMH, L'Oréal and EssilorLuxottica.
How each side covered it
Center
- Reported that Armani's will mandates the sale of a 15% stake within 18 months of his death.
- Cited CEO Giuseppe Marsocci saying there were no favorites among potential buyers.
- Noted the stake could be split among LVMH, L'Oréal and EssilorLuxottica.
- Reported that talks were set to begin with LVMH and L'Oréal, according to the Financial Times.
“Giorgio Armani\u2019s will requires the sale of a 15% stake in his empire within 18 months of his death. LVMH, L\u2019Or\u00e9al and EssilorLuxottica may split it” — Fortune
Right
- Reported that Armani's heirs are weighing a stake sale to LVMH, L'Oréal and EssilorLuxottica.
“Armani heirs weigh 15% stake sale to LVMH, L\u2019Or\u00e9al and EssilorLuxottica” — Independent Journal Review
Questions readers ask
What did Giorgio Armani's will require regarding the company stake?
Giorgio Armani's will requires that a 15% stake in his company be sold within 18 months of his death, according to Fortune.
Which companies are potential buyers of the Armani stake?
LVMH, L'Oréal and EssilorLuxottica have been named as potential buyers, according to Fortune and Independent Journal Review.
Will the stake go to a single buyer?
Armani CEO Giuseppe Marsocci said there were no favorites and that the stake could potentially be split among all three companies, according to Fortune and CNBC.
Has a sale process formally begun?
The Financial Times reported that Armani is set to kick off stake sale talks with LVMH and L'Oréal.
Sources · 4 outlet reports
- CNBCCenterArmani open to more than one investor for sale of 15% stake, CEO says
- Financial TimesCenterArmani to kick off stake sale talks with LVMH and L’Oréal
- FortuneCenterLVMH, L’Oréal and EssilorLuxottica may split a 15% stake in Giorgio Armani's empire
- Independent Journal ReviewRight-leaningArmani heirs weigh 15% stake sale to LVMH, L’Oréal and EssilorLuxottica