Overview

• His business will instructs an initial 15% sale within 12–18 months to a priority buyer, granting the new investor 15% voting rights and a board seat.
• Between three and five years, heirs must transfer a further 30% to 54.9% to the same buyer, with an IPO — preferably in Milan — as the fallback if no deal proceeds.
• Voting rights are allocated to Dell’Orco (40%) and the Giorgio Armani Foundation (about 30%) with veto powers on major changes, while Silvana Armani and Andrea Camerana receive 15% voting rights each.
• Capital stakes are split so the foundation holds a guaranteed blocking stake of at least about 30%, with Roberta Armani and Rosanna Armani receiving non‑voting shares.
• L’Oréal said it was touched and would study the opportunity, EssilorLuxottica pledged careful evaluation, and LVMH acknowledged the designation, as the executive committee moves to appoint a new CEO.