French cosmetics group L’Oréal will “definitely” look at an investment in Italian fashion group Armani and start working on it “very soon”, Chief Financial Officer Christophe Babule said during a fireside chat with analysts on Monday.
Armani’s will instructed heirs to gradually sell the fashion house he created or seek a market listing, starting with a 15 percent stake within 18 months, giving priority to L’Oreal, luxury conglomerate LVMH, eyewear maker EssilorLuxottica or another group of “equal standing”.
By Dominique Patton and Tom Hogue
Learn more:
What Is Armani Group Worth? It’s Complicated
Giorgio Armani’s will stipulated that 15 percent of the company he founded must be sold by early 2027, but putting a price tag on the group is an inexact science.
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