THE WHAT? Armani is preparing to begin formal discussions with L’Oréal, LVMH and EssilorLuxottica over the potential sale of a minority stake as the Italian luxury group develops its post-founder strategy.
THE DETAILS The three groups were identified by Giorgio Armani as preferred potential investors, with his will instructing heirs to sell an initial 15 percent stake within 18 months of his death. One option under discussion would divide the stake between the three companies, although people close to the potential investors have played down the prospect of substantial near-term investments. For L’Oréal, which holds Armani’s beauty licensing agreement through 2050, protecting the long-term fragrance and cosmetics partnership is reported to be a priority. The discussions come as Armani restructures its governance and business strategy under CEO Giuseppe Marsocci, with the group seeking to strengthen brand positioning and expand higher-margin categories. Armani generated €2.19 billion in revenue in 2025, while EBITDA increased 3.2 percent to €153 million.
THE WHY? A minority investment could reshape the ownership structure of one of luxury’s largest remaining independent groups while strengthening strategic relationships with existing partners, particularly L’Oréal, whose long-term Armani beauty licence makes it commercially important to the group’s future.
Source: The Financial Times
