Armani Opens Its Capital: Who Will It Be—LVMH, L’Oréal or EssilorLuxottica?

The essentials in five points

• 28 September 2026: CEO Giuseppe Marsocci states that Armani is open to several investors for the sale of 15% of the capital, specifying that no decision has been made.
• The candidates: According to the Financial Times, meetings are scheduled in the coming weeks with LVMH, L’Oréal and EssilorLuxottica.
• A sharing option: The 15% could be split between the three groups.
• The timeline: The will requires these 15% to be sold within 18 months of the founder’s death, that is, by early 2027.
• What’s next: The will then provides for the sale of a larger share or a stock market listing.

What Giuseppe Marsocci said

On 28 September, Giuseppe Marsocci, CEO of the group, confirmed that Armani was open to several investors for the sale of the 15% provided for in Giorgio Armani’s will. He was careful to add that no decision had been made. The message is twofold: the door is open, but the house retains control over the timing and the choice of partner.

LVMH, L’Oréal, EssilorLuxottica: three different approaches

L’Oréal, the beauty partner

L’Oréal holds the Armani licence for beauty and fragrances until 2050. An equity stake would naturally extend an already structuring relationship, making the French group an obvious contender.

EssilorLuxottica, the eyewear partner

EssilorLuxottica holds the Armani eyewear licence until 2037. Here again, an equity stake would strengthen an existing industrial link, making it another natural candidate.

LVMH, the luxury giant

For LVMH, the stakes are different: a seat, even a minority one, in the capital of one of the last great independent Italian houses. The Financial Times lists it among the groups with which meetings are scheduled.

And Kering?

Kering’s CEO, Luca de Meo, has denied any interest in a minority stake in Armani.

Why the timeline is pressing

Giorgio Armani organised his succession by will. The first step, the sale of 15% of the capital, must take place within 18 months of his death, that is, by early 2027. The meetings announced for the coming weeks therefore fall within a short window.

Beyond that, the will provides for the sale of a larger share or a stock market listing. The choice of the first investor will therefore likely shape the future of the house well beyond this 15%.

What this changes for the house’s clients

In the short term, nothing changes for the collections, boutiques or licences, which remain in place. For our clients, Milan remains a leading fashion destination: private appointments in boutiques, discovery of the house’s iconic locations, stays during Fashion Week. Our concierge service in Milan and our fashion personal shopping service organise these moments with complete discretion, and our 2027 Fashion Weeks guide lists the upcoming events.

Frequently asked questions

Is Armani going to be sold?

No. Giorgio Armani’s will first provides for the sale of 15% of the capital. CEO Giuseppe Marsocci stated on 28 September 2026 that no decision has been made.

Who are the potential buyers of Armani’s 15%?

According to the Financial Times, meetings are scheduled with LVMH, L’Oréal and EssilorLuxottica, with the option of splitting the 15% between the three.

By what date must Armani sell 15% of its capital?

Within 18 months of Giorgio Armani’s death, that is, by early 2027.

Why are L’Oréal and EssilorLuxottica favourites?

Because they already hold Armani licences: until 2050 for beauty and fragrances (L’Oréal), until 2037 for eyewear (EssilorLuxottica).

Is Kering interested in Armani?

No. Luca de Meo, CEO of Kering, has denied any interest in a minority stake.

Will Armani go public?

This is one of the options provided for in the will after the first sale, along with the sale of a larger share.

Sources: Statements by Giuseppe Marsocci (28 September 2026), Financial Times. Informational article, with no affiliate link to the houses and groups mentioned. Photographs: Wikimedia Commons, credited authors.