Bernard Arnault “honored” that LVMH has been designated as “likely to enter into a partnership” with Armani

Bernard Arnault, CEO of the world’s number one luxury goods group LVMH, said on Friday he was “honored” that his group had been designated by Giorgio Armani in his will as a “player likely to forge a partnership” with the Italian group.

“Giorgio Armani, whom I had the joy of knowing personally, was a true genius; the only great couturier, along with Christian Dior, who built and led a global brand in terms of both style and industry,” according to Bernard Arnault, in a statement to AFP.

“If we were to work together in the future, LVMH would be keen to further strengthen its presence and leadership worldwide,” he added.

“Giorgio Armani has honored us by naming us as a potential partner for the exceptional house he has built,” added the LVMH CEO.

The legendary couturier, who died on September 4 at the age of 91, instructed the foundation inheriting his company “to sell a 15% stake” to a luxury goods giant such as LVMH, L’Oréal or EssilorLuxottica “between 12 and 18 months after the opening of the will” on Thursday, according to elements of the document published Friday by the Italian press.

The chosen shareholder will then have the option of taking control of the group by acquiring between 30% and 54.9% of the remaining capital.

The Armani group, whose activities range from haute couture to hotels, is worth several billion euros.

In 2024, LVMH achieved sales of over 84 billion euros.

L’Oréal, which has held the Armani license for perfumes and cosmetics since 1988, told AFP it was studying “with great consideration this prospect, which is part of our long shared history”.

EssilorLuxottica will also study it “attentively”, commented a company spokesperson in the Italian press, “proud of the esteem” the designer has shown for the group.