Bernard Arnault, CEO of the luxury giant LVMH, was “honored” on Friday that his group was mentioned as a potential partner in Giorgio Armanis Testament. “Giorgio Armani, whom I was able to get to know personally, was a real genius, the only great couturier alongside Christian Dior, who built and managed a global brand both stylistically and in an entrepreneurial manner,” Arnault told the AFP news agency.
“If we work together in the future, LVMH would further strengthen its presence and market leadership worldwide,” he added. “Giorgio Armani honors us by naming us as a potential partner for the extraordinary company that he has built up.”
The Italian fashion designer, who died on September 4 at the age of 91, left his company in a foundation. According to the will, which opened on Thursday, the foundation is to sell 15 percent of the shares to a luxury group such as LVMH, L’Oréal or Essilorluxottica within twelve to 18 months. The selected shareholder is then given the opportunity to take control of the company by acquiring between 30 and 54.9 percent of the rest of the capital.
The Armani Group, whose business areas range from Haute Couture to hotels, is estimated at several billion euros. LVMH generated sales of over 84 billion euros in 2024.
Other potential partners were also cautious, but interested. L’Oréal, licensed for Armanis perfumes and cosmetics since 1988, explained that “this perspective is examined with great attention, which fits into the framework of our long history”. Essilorluxottica commented that the option would also be “carefully checked” and was “proud of the appreciation” that the designer had shown to the company.
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