Armani Plans to Split 15% Stake Among L'Oreal, LVMH, EssilorLuxottica

Armani Plans to Split 15% Stake Among L’Oreal, LVMH, EssilorLuxottica

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5.11.2026

Quick Facts

Armani Group plans to split a 15% stake with L’Oreal, LVMH, and EssilorLuxottica each receiving 5%
New CEO Giuseppe Marsocci is preparing a business plan and appointing two advisers to oversee the sale
Giorgio Armani’s will instructed the company to find a strategic partner for a 15% stake within 18 months

The Armani Group is considering dividing a 15% stake equally among L’Oreal, LVMH, and EssilorLuxottica as it executes founder Giorgio Armani’s succession plan. The three companies were named as preferred buyers in Armani’s will.

Each company would acquire a 5% holding once the formal sale process begins. The split structure aims to keep all three buyers engaged during the initial phase while preserving the brand’s independence.

CEO Giuseppe Marsocci is preparing a business plan and appointing two advisers to oversee the sale. Rothschild is being considered for one advisory role. The sale process has not yet begun.

Giorgio Armani died at 91 last September. His will instructed the Milan-based company to find a strategic partner to purchase an initial 15% stake within 18 months, with the possibility of raising it to nearly 70% within five years.

Armani generated 2.2 billion euros in revenue in 2025. Including fragrance, beauty, and eyewear licenses, the figure reaches nearly 6 billion euros. Industry rumors suggest a valuation between 10 and 13 billion euros.

In 2024, Armani’s operating profit fell 25% to 398 million euros while revenue dropped 5% to 2.3 billion euros. The company employs nearly 9,000 people.

L’Oreal CFO Christophe Babule told analysts the French cosmetics company will “definitely” examine the opportunity to buy a 15% stake. Armani Beauty generates approximately 1.5 billion euros in annual revenue, representing 10% of L’Oreal’s luxury division sales.

Giuseppe Marsocci, 61, served as global chief commercial officer for six years before becoming CEO. He has been with the company for 23 years. The Giorgio Armani Foundation unanimously proposed his appointment.

“This is a project of extraordinary importance, of continuity and enhancement of one of the most prestigious Made in Italy brands in the world,” Marsocci said.

Control of the Armani Group will be divided among six heirs: Armani’s sister Rosanna, two nieces, one nephew, longtime collaborator Leo Dell’Orco, and a charitable foundation. Dell’Orco will wield 40% of voting rights.

Armani and Dolce & Gabbana remain the last large Italian fashion houses that are not listed or part of a conglomerate. French luxury groups LVMH and Kering have acquired numerous Italian fashion brands over the past two decades.