Armani Heirs Open Talks on 15% Stake Sale With LVMH, L'Oréal and EssilorLuxottica One Year After Founder's Death

Giorgio Armani, the Italian luxury house founded by the designer who died on Sept. 4, 2025 at age 91, is preparing meetings with LVMH, L'Oréal and EssilorLuxottica to discuss the sale of a 15% stake, a step required by the founder's will within 12 to 18 months of his death, and chief executive Giuseppe Marsocci said on Sunday, Sept. 27, 2026 that the holding could be split among all three groups or other investors of equal standing rather than going to a single buyer, according to WTOP News, carrying The Associated Press. The meetings are to take place in the coming weeks, The Business Times reported, citing the will's stipulation that an initial 15% stake sale begin in that window, potentially preceding a market listing or the disposal of a larger stake. Marsocci, who took over as chief executive in October 2025, spoke to reporters backstage at the house's Milan runway show, where the Spring-Summer 2027 womenswear collection, titled "Evolution," debuted under new creative leadership.

What happened

The will of Giorgio Armani, who died on Sept. 4, 2025 at age 91, required the sale of an initial 15% stake in the group between 12 and 18 months after his death, a window that closes around March 2027. On Sunday, Sept. 27, 2026, the house prepared to hold meetings with LVMH, L'Oréal and EssilorLuxottica, the three companies named in the will, to discuss that sale, as reported by WTOP News, carrying The Associated Press.

Marsocci, who became chief executive in October 2025, told reporters backstage at the Milan show that the stake could be split among all three named companies or among other investors of "equal standing." "It is not written in stone that there has to be one," he said, adding that no decision has been made. He said the will allowed discussions to begin only after the first anniversary of Armani's death, and he declined to confirm whether talks had already started, saying the assumption that they were underway "may have some logic." Any transaction, he said, depends on agreement on "price and details."

The Financial Times reported on Sunday that Armani was preparing meetings in the coming weeks with the three groups, with one informally discussed option involving the three sharing the 15% holding. Reuters earlier reported that EssilorLuxottica could consider partnering with other bidders. Separately, The Business Times reported that the stake sale could be delayed beyond the March 2027 deadline.

The runway show itself marked a creative transition. The house debuted its Spring-Summer 2027 womenswear collection, titled "Evolution," under new creative leadership. Dario Vitale, formerly of Versace, was named this month as creative director of Emporio Armani and head of accessories at Giorgio Armani; no runway debut date for him has been announced. Silvana Armani, the founder's niece and head of womenswear, said the collection "evolved in the sense that it is fashion that everyone can wear," noting that it incorporated cotton, a fabric her uncle disliked.

Why it matters

The disposal of the 15% stake is the first formal step in settling the ownership of one of Italy's largest privately held luxury groups after the death of its founder, and the will's structure leaves open a market listing or the sale of a larger stake as possible follow-on moves. The identity of the buyers matters for the shape of the global luxury industry: LVMH, L'Oréal and EssilorLuxottica each control major positions in fashion, beauty and eyewear respectively, and a split of the holding among the three, or among other investors of equal standing, would distribute influence over the house rather than concentrate it. Marsocci's comments that the stake need not go to a single buyer, and that the sale could be delayed beyond the March 2027 deadline, signal that the executors retain flexibility on both structure and timing. The Milan show, meanwhile, offered the first public view of how the house's creative direction is evolving a year after its founder's death, with a collection titled "Evolution" that its head of womenswear described as broader in its use of fabrics than the founder's own preferences allowed.

How it is being covered

Ground.news figures show 40 sources carrying the story, 24 of them rated, with a left/centre/right split of 38/41/21 percent and factuality rated high or very high for 21 of the 24 rated outlets. The blindspot check found none, meaning no major ideological segment is missing the story.

What to watch

Watch for confirmation of whether the meetings with LVMH, L'Oréal and EssilorLuxottica take place in the coming weeks as reported, and for any statement on whether the 15% stake goes to one buyer or is split. Watch also for whether the sale slips past the March 2027 deadline set by the will, as The Business Times has reported is possible, and for any signal on a market listing or a larger stake disposal. On the creative side, watch for an announced runway debut date for Dario Vitale as creative director of Emporio Armani and head of accessories at Giorgio Armani.

By the numbers

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