Armani allegedly exploring equal split of 15% stake between LVMH, L’Oréal and EssilorLuxottica

Italian luxury fashion and beauty house Giorgio Armani is reportedly considering selling a 15% share, divided equally between industry giants LVMH, L’Óreal, and EssilorLuxottica. The rumored sale follows the death of founder Giorgio Armani in September 2025, who identified the aforementioned companies as preferred shareholders in his will.

At 91 years old, Armani was the sole owner of the brand at the time of his death. In his will, he instructed his heirs to sell an initial 15% stake of the business within 12–18 months of his death, with the possibility of increasing to a majority stake after three years.

The three companies were previously reported to be prioritized as buyers for the sale of the shares. However, the alleged plan for equal division of the shares was reported by Italian daily La Repubblica on Sunday (May 10).

The publication reported that Giuseppe Marsocci, CEO at Armani, is in the process of devising a business plan, in which he will allegedly appoint two advisers to handle the sale.

Potential buyers

Giorgio Armani’s 15% sale is reportedly being split into three equal shares.

Following Armani’s death, L’Oréal, whose Luxe Division manages the beauty products for the Giorgio Armani brand, vowed to honor Armani’s legacy through continued collaboration with the luxury giant on Armani beauty products.

According to analysts, Armani Beauty generates around €1.5 billion (US$1.76 billion) in annual revenue. The figure amounts to approximately 10% of L’Oréal’s luxury division sales.

For LVMH, which owns 75 luxury brands, absorbing heritage luxury houses is not unfamiliar territory. Financially, LVMH is one of the world’s richest luxury groups. In 2025, the company reported revenues of approximately €80.8 billion (US$94.92 billion).

Given its multi-sector portfolio, including fashion, leather goods, fragrances, and jewelry, LVMH is speculated to be better positioned to take on the entire Armani group rather than a single division, potentially making it a more versatile buyer. Meanwhile, L’Oréal is reportedly focused primarily on Armani’s beauty arm.

In December last year, LVMH acquired a minority stake in BDK Parfums, marking the first time the fragrance company opened its capital to an external investor. The investment was said to strengthen LVMH’s position in the niche luxury fragrance market while maintaining BDK’s creative independence through the conglomerate’s decentralized business structure.

On the fashion side, EssilorLuxottica designs, manufactures, and distributes advanced vision care products, eyewear, and med-tech solutions. The company is home to brands such as Ray-Ban, Oakley, and Supreme.