MILAN: Italian fashion house Giorgio Armani is considering selling its 15% stake in three equal parts following the designer's death, potentially bringing in three buyers he had selected as shareholders, a newspaper reported on Sunday.
Armani, who died at 91 last September, had named French luxury group LVMH and two commercial partners--beauty products maker L'Oreal and EssilorLuxottica --as preferred buyers for the company.
Italian daily la Repubblica reported, without citing sources, that Armani CEO Giuseppe Marsocci is preparing a business plan as he moves to appoint two advisers to oversee the sale.
The advisers would then share Marsocci's five-year business plan with potential investors.
Ahead of the formal launch of the process, the group was considering splitting the 15% stake in three parts, in line with Armani's will which called for a sale within 12-18 months of his death, the paper said.
This would help keep all three buyers engaged in the initial phase, the report said.
The group did not immediately respond to a request for comment.
Armani, who died at 91 last September, had named French luxury group LVMH and two commercial partners--beauty products maker L'Oreal and EssilorLuxottica --as preferred buyers for the company.
Italian daily la Repubblica reported, without citing sources, that Armani CEO Giuseppe Marsocci is preparing a business plan as he moves to appoint two advisers to oversee the sale.
The advisers would then share Marsocci's five-year business plan with potential investors.
Ahead of the formal launch of the process, the group was considering splitting the 15% stake in three parts, in line with Armani's will which called for a sale within 12-18 months of his death, the paper said.
This would help keep all three buyers engaged in the initial phase, the report said.
The group did not immediately respond to a request for comment.
