Armani's Will Names LVMH as Potential Partner, Sparking Luxury Giants' Interest

Bernard Arnault, the esteemed CEO of LVMH, the world's leading luxury goods conglomerate, has expressed his profound honor following the revelation that his group was designated by the late Giorgio Armani in his will. Armani's testament identified LVMH as a "player likely to forge a partnership" with his iconic Italian fashion house, a potential collaboration that could significantly reshape the global luxury landscape.

In a statement to AFP, Arnault paid a poignant tribute to the legendary couturier, whom he had the privilege of knowing personally. He lauded Giorgio Armani as "a true genius," remarking that he stood as the "only great couturier, along with Christian Dior, who built and led a global brand in terms of both style and industry." This high praise underscores the immense respect Arnault held for Armani's unique vision and business acumen.

Arnault further articulated LVMH's strategic intent, stating, "If we were to work together in the future, LVMH would be keen to further strengthen its presence and leadership worldwide." This indicates a clear ambition to leverage such a partnership to consolidate LVMH's already dominant position in the luxury sector, hinting at the significant growth opportunities an alliance with the multi-billion euro Armani group could offer.

The details of Giorgio Armani's will, which was opened on Thursday following his death on September 4 at the age of 91, were published by the Italian press on Friday. The document instructs the foundation inheriting his company to "sell a 15% stake" to a major luxury goods giant. LVMH, L'Oréal, and EssilorLuxottica were specifically named as potential candidates for this initial share acquisition, which is to occur "between 12 and 18 months after the opening of the will."

Crucially, the chosen shareholder would then be granted the option to acquire a controlling interest in the Armani group, with the potential to purchase an additional 30% to 54.9% of the remaining capital. This structured approach suggests a careful plan by Armani to ensure the continuity and legacy of his brand while seeking a strategic partner to guide its future development.

The Armani group itself is a sprawling empire, encompassing a diverse range of activities from haute couture and ready-to-wear fashion to accessories, home furnishings, and even hotels. Its valuation runs into several billion euros, reflecting its extensive global presence and brand power. For context, LVMH, under Arnault's leadership, reported sales exceeding 84 billion euros in 2024, highlighting the scale of the potential partnership.

Beyond LVMH, the other designated contenders have also reacted to the news. L'Oréal, which has maintained the Armani license for perfumes and cosmetics since 1988, informed AFP that it is studying "with great consideration this prospect, which is part of our long shared history." Similarly, a spokesperson for EssilorLuxottica commented in the Italian press that they would study the opportunity "attentively," expressing pride in the "esteem" the designer had shown for their group. This signals a competitive interest from multiple industry titans, all vying for a stake in one of fashion's most revered houses.