Armani named three preferred buyers of his empire in his will

The Italian fashion designer and founder of the Armani brand, Giorgio Armani, bequeathed to his heirs to gradually sell or conduct an initial public offering of his company's shares. This was reported by the Reuters news agency on September 12.

"The heirs must sell the initial 15% of the shares of the Italian fashion house within 18 months, and then transfer another 30% to 54.9% of the shares to the same buyer within three to five years after Armani's death," the publication says.

Armani designated LVMH, L'Oréal and the optics brand EssilorLuxottica as priority clients for the sale of shares.

In addition, the will states that the heirs should consider selling other fashion and luxury goods companies with which the company has commercial ties.

The man from the department store: fashion designer Giorgio Armani has died

In his youth, the future couturier dreamed of becoming a doctor

On September 11, it was reported that Armani had made two wills in secret. The first is on March 15th, and the second is on April 5th. Both documents were opened by a notary public on September 9, after the fashion designer's death. His heirs will be Armani's relatives: Silvana and Roberta, the daughters of his late brother Sergio, as well as Andrea, the son of his sister Rosanna. His partner and long—time assistant Leo Dell'Orco is also among the heirs.

Armani passed away on September 4 at the age of 91. According to Armani, the fashion designer died surrounded by his loved ones. He continued to work until his last days. Farewell to the fashion designer took place on September 6.

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