The heirs of the late fashion designer Giorgio Armani prefer a future stock market listing of the fashion group over a sale to a larger industry player. Reuters reports this, citing two sources with knowledge of the matter.
According to Armani’s will, around 15 percent of the company is to be sold by March 2027 at the latest, followed by another sale or a stock market listing within three to eight years after his death.
The heirs are considering dividing the initial stake among several buyers in order to retain their freedom of action.
L’Oréal and EssilorLuxottica are said to be the most active interested parties.
Advisers value Armani at between 5 and 7 billion euros.
