Overview

• Two wills dated March 15 and April 5 were published on Sept. 12, placing the Giorgio Armani Foundation in charge of the fashion group’s governance.
• The plan orders a 15% sale within 12–18 months followed by a further 30% to 54.9% transfer in years three to five to the same buyer.
• Priority suitors named in the documents are LVMH, L’Oréal and EssilorLuxottica, with room for other luxury groups of comparable standing.
• If no sale proceeds, the wills direct consideration of an IPO in years five to eight, with the foundation retaining a 30.1% stake to ensure control.
• Pantaleo Dell’Orco, Armani’s longtime lieutenant, is reported to hold significant voting influence with 40% of voting shares.