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Armani Group plans to meet L’Oréal, LVMH and EssilorLuxottica in the coming weeks about a possible stake sale, according to the Financial Times. CEO Giuseppe Marsocci said no decision has been made and that the company will follow the timetable in Giorgio Armani’s will, which calls for a 15% sale within 18 months of his death.
Armani Group is expected to meet L’Oréal, LVMH and EssilorLuxottica in the coming weeks about a possible stake sale, the Financial Times reported, as the fashion house works toward a timetable set by its late founder, Giorgio Armani. CEO Giuseppe Marsocci said no decision had been made and that a sale would depend on agreement over price and details, according to Reuters.
Giorgio Armani died in September 2025, aged 91. His will named L’Oréal, LVMH and EssilorLuxottica as preferred buyers and specified that 15% of the company must be sold within 18 months of his death. The report does not say that any of the three has agreed to buy a stake, or that negotiations have produced an offer.
Marsocci spoke to reporters on September 27 on the sidelines of the Giorgio Armani fashion show in Milan. Reuters reported his remarks, including that “it is not written in stone that it has to be one investor.” He said the group intended to respect the timetable set out by Armani, while making clear that completing a transaction depended on reaching agreement on its terms.
The Financial Times reported that meetings with the three named companies are planned for the coming weeks. Cosmetics Business said it had contacted Armani Group, L’Oréal and LVMH for comment. The source material did not include responses from those companies or specify the format, dates or agenda for the meetings.
Three Buyers, One Stake Sale
The planned discussions put three major companies in view as potential buyers of part of one of the world’s best-known fashion businesses. A stake sale could shape who has a financial interest in Armani after its founder’s death, while the will’s 18-month timetable gives the process a defined deadline. The source material does not establish how much influence a 15% stake would carry or what governance rights might accompany it.
The possible deal also brings together businesses with different existing relationships to Armani. L’Oréal already produces beauty products under the Armani name, while LVMH operates across luxury goods and EssilorLuxottica is an eyewear group. Those connections may be relevant to discussions, but no buyer has been selected and no terms are public. The practical outcome for Armani’s operations, employees or customers therefore remains unknown.
Armani’s Will Sets the Timeline
Armani’s death in September 2025 left the company facing a succession process shaped in part by instructions in his will. The document named L’Oréal, LVMH and EssilorLuxottica as preferred buyers and set a requirement to sell 15% within 18 months. The report describes this as the timetable the group intends to respect; it does not explain what the will provides for after that initial sale.
L’Oréal has a longstanding beauty partnership with Armani. The companies joined forces in 1988 to license beauty products under the Armani brand, including make-up, skin care and fragrance, and renewed the agreement in 2018, extending it to 2050. In December 2025, L’Oréal CFO Christophe Babule said the company was considering the investment opportunity during a discussion with analysts at its Capital Markets Day.
Babule’s comments showed that L’Oréal was open to examining the possibility, but did not amount to a commitment to invest. The new reported meetings would bring L’Oréal into discussions alongside the other two companies named by Armani. The source does not describe previous talks with LVMH or EssilorLuxottica.
““It is not written in stone that it has to be one investor.””
— Giuseppe Marsocci, Armani Group CEO, as reported by Reuters
Price and Buyer Remain Open
No buyer, offer, price or transaction structure has been announced. Marsocci’s comment that the stake need not go to a single investor leaves open whether the 15% might be divided, but the report does not say that such a structure is under consideration. It is also unclear whether the three companies will submit proposals or simply hold exploratory meetings.
The precise timetable depends on how the 18-month period is calculated from Armani’s death in September 2025; the source gives no specific completion date. The reports do not describe the role of the heirs in choosing a buyer, whether regulatory approvals would be needed, or what would happen if the parties fail to agree on price and other details before the deadline.
Meetings Expected in Coming Weeks
The next reported step is a series of meetings between Armani Group and L’Oréal, LVMH and EssilorLuxottica in the coming weeks. The companies could use those discussions to examine the proposed stake and its terms, but no agenda or public timetable for follow-up decisions has been disclosed.
Readers should watch for confirmation from Armani Group or the prospective buyers, along with any statement on the sale structure, valuation or expected closing date. Until then, the confirmed position is that Armani intends to respect the timetable in the will; whether a deal can be reached, and with whom, remains unsettled.
Key Questions
Which companies are expected to discuss buying an Armani stake?
The Financial Times reported that Armani Group plans meetings with L’Oréal, LVMH and EssilorLuxottica in the coming weeks. Giorgio Armani named the three as preferred buyers in his will.
How much of Armani is due to be sold?
Giorgio Armani’s will specified that 15% of the company must be sold within 18 months of his death in September 2025.
Has Armani chosen a buyer?
No. CEO Giuseppe Marsocci said no decision had been made, according to Reuters. Price and other deal details also remain unresolved.
Could more than one company buy the stake?
Marsocci said it was not certain the stake would have to go to one investor. The company has not announced a sale structure or confirmed that it will divide the stake.
What is L’Oréal’s existing relationship with Armani?
L’Oréal has licensed Armani-branded beauty products since 1988. The companies renewed their partnership in 2018, extending it to 2050.
Source: rss
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