Armani’s will: the fashion house is waiting for a change of ownership and a possible fight between luxury giants
12 September 2025 18:20
The will of Italian fashion designer Giorgio Armani, who died on September 4, spells out in detail the future of the Armani fashion house. Reuters writes about it, "Komersant Ukrainian" reports.
The heirs must gradually sell the controlling stake:
- 15% – within 18 months,
- another 30-54.9% – in the next three to five years.
An alternative scenario involves an IPO, i.e. the transformation of Armani from a private company into a public one.
Who will get the brand?
Armani has identified a range of potential buyers. They have a priority:
- LVMH, the world’s largest luxury goods holding;
- L’Oréal, a giant in the beauty industry;
- EssilorLuxottica, the world’s leading eyewear manufacturer.
The heirs may also consider other fashion or luxury companies with which Armani has business ties.
Why it matters
The fashion house has remained under Armani’s full control since its creation in the 1970s. The designer strictly managed both creative and business processes, not allowing outside influence. His death paves the way for structural changes in the company that could affect the entire fashion industry.
Financial context
In 2024, the brand earned 2.3 billion euros, but profits declined due to the downturn in the global luxury industry. For giants such as LVMH or L’Oréal, the acquisition of Armani can be a strategic asset in a time of fierce competition.
Italian fashion has already experienced similar transformations:
- Versace was acquired by the American Capri Holdings (Michael Kors) in 2018.
- Gucci has long been owned by the French conglomerate Kering.
Armani’s will could be the beginning of a new wave of industry concentration, with fewer and fewer independent fashion houses.
