# The late Giorgio Armani’s will could reshape the future of his iconic fashion house. Heirs are instructed to sell a 15-percent stake within 18 months, with the option to divest up to 54.9-percent more, leaving the Giorgio Armani Foundation with at least 30-percent. The Italian designer, who died last week preferred buyers including Louis Vuitton Moët Hennessy, L’Oréal, and EssilorLuxottica while an Initial Public Offering also remains possible. The foundation will appoint a new CEO to oversee the transition and safeguard Armani’s legacy.
Giorgio Armani’s will sets stage for major luxury fashion house takeover