Giorgio Armani’s will requires the sale of a 15% stake in his empire within 18 months of his death. LVMH, L’Oréal and EssilorLuxottica may split it

The future of Giorgio Armani’s empire is coming into sharper focus a year after the designer’s death. On the runway in Milan, his signature elegance defined the latest collection previewed on Sunday, while behind the scenes talks are set to begin on the sale of a stake, as stipulated in his will.

Armani gave preference to LVMH, L’Oréal and EssilorLuxottica as potential buyers of a 15% stake to be sold within 18 months of his death on Sept. 4, 2025, at the age of 91.

Chief Executive Giuseppe Marsocci told reporters backstage at the runway show that there were no favorites and that the stake could potentially be split among all three companies.

“It is not written in stone that there has to be one,” he said.

Marsocci said the will allowed discussions to begin only after the first anniversary of Armani’s death but declined to confirm whether they had started. “The assumption” that talks were underway “may have some logic,” he said.

The recent appointment of Dario Vitale as head of accessories at........

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