Reported about 7 hours ago
The late Italian fashion designer Giorgio Armani has instructed his heirs to sell a 15% minority stake in his fashion empire, prioritizing potential buyers like LVMH, Essilor-Luxottica, or L’Oreal. Control of his business is allocated among family members and collaborators, with the Armani Foundation overseeing the remaining 30%. Armani, who passed away at 91, emphasized in his will that future collections should embody essential and modern designs while featuring a special exhibition to celebrate his label's 50th anniversary at Milan Fashion Week.
Source: YAHOO