Reported about 6 hours ago
Giorgio Armani's will has instructed his heirs to gradually sell his fashion brand or pursue an IPO, a surprising directive for a company known for its independence. The will specifies an immediate sale of a 15% stake and the potential for selling up to 54.9% over five years, with priority given to luxury firms like LVMH and L'Oreal. Armani, who passed away at 91, had previously resisted such moves, consistently maintaining tight control over the brand he built.
Source: YAHOO