Giorgio Armani Estate in Talks to Sell Major Stake to L'Oreal
The estate of late fashion icon Giorgio Armani is in talks to sell a significant stake in his luxury brand. French cosmetics giant L'Oreal has been offered the stake, with Rothschild acting as advisors. The deal, currently in its early stages, could see L'Oreal acquire a substantial portion of the Armani empire, valued between 5 to 12 billion euros.
According to Giorgio Armani's will, his heirs must sell a 15% stake in the brand within 18 months of his death. This stake is to be offered first to LVMH, L'Oreal, and EssilorLuxottica. If no agreement is reached with these companies, the heirs must transfer an additional 30% to 55% stake to the same buyer or initiate an IPO within three to five years.
Talks for the stake sale are ongoing but are expected to take several months to progress. Other companies of equal standing are also eligible to buy the stake, adding to the competitive nature of the deal.
The sale of the Armani stake is a significant development in the luxury goods market. L'Oreal's involvement, along with other major players, highlights the brand's appeal and potential. The final outcome of the deal will shape the future of the Armani empire and its place in the global luxury landscape.
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