More and more details are becoming known, as is the case with Giorgio Armani’s fashion ideal after his death. According to information from the Reuters news agency, the will contains clear specifications for its heirs on September 4 at the age of 91 at the age of 91.
Accordingly, these are obliged to sell a share of 15 percent in the company within a year and a half – either by selling or as part of a IPO. In a further step, three to five years after Armanani’s death, the heirs have to hand in between 30 and 54.9 percent to the same buyer.
Armani himself also named potential interested parties in his last will. Priority should preserve strategic partners from the luxury industry, including corporations such as LVMH, the cosmetic giant L’Oréal or the Italian glasses manufacturer Essilorluxottica. It is also recommended to include existing business partners in the considerations.
With these guidelines, Giorgio Armani has clearly demolished the framework for the future development of his company and at the same time created the basis for a possible reorganization in the international luxury market.
This message may be added to further information at a later date.
This article was used with digital tools translated.
Fashionunited uses artificial intelligence to accelerate the translation of articles and improve the end result. They help us make the international reporting of fashionunited a German -speaking readership quickly and comprehensively accessible. Articles that have been translated using AI-based tools are read and carefully edited by our editor: Correcting inside before they are published. If you have any questions or comments, please contact me by email to [email protected]