Giorgio Armani always said he wouldn’t sell his fashion house to Bernard Arnault or a French group. That’s old history now. In his will, the Italian maestro has invited LVMH and L'Oréal—as well as French Italian group EssilorLuxottica - to make offers for 15 percent of his company, with the option to purchase a controlling stake within five years of his death.
According to analysts, the Armani fashion house, which is celebrating its 50th anniversary this year, could be valued at between €5.5 billion and €7 billion. Few companies apart from three named by Armani could dream of paying that. It looks probable Armani will end up in French hands.
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