Overview
- Giorgio Armani SpA named Marco Bizzarri, John Hooks and Angelo Moratti to its eight‑member board, joining chairman Leo Dell’Orco, CEO Giuseppe Marsocci, Silvana Armani, Andrea Camerana and Federico Marchetti.
- Selections were made by the Armani Foundation and the heirs, with Dell’Orco saying the mix of family insiders and independent veterans is meant to preserve the founder’s vision and steady operations.
- The late designer’s will requires a 15 percent stake to be sold within 18 months to LVMH, L’Oréal, EssilorLuxottica or an equivalent peer, with an IPO as the fallback if no buyer is secured.
- The will also contemplates a further sale of 30 to 54.9 percent to the same buyer three to five years after his death, while the Armani Foundation keeps key decision rights and at least a 30 percent holding.
- The company maintains long‑term licensing deals with L’Oréal for beauty and EssilorLuxottica for eyewear, and the sector’s two‑year slowdown has weighed on Armani’s recent revenue and profit.