Armani stake sale inches closer as L’Oréal and LVMH talks reported to begin

By Lynsey Barber | Published: 28-Sep-2026

The sale of a 15% stake in the Armani Group within 18 months of founder Giorgio Armani’s death was set out in the fashion designer’s will, with L’Oréal and LVMH named among the preferred buyers

Armani Group is inching closer to selling a stake in its business following the death of its founder, Giorgio Armani.

The fashion designer passed away in September 2025, aged 91, and named beauty giant L'Oréal, luxury group LVMH, and eyewear company EssilorLuxottica as preferred buyers in his will.

He specified that 15% of the company must be sold within 18 months of his death.

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Speaking to reporters on the sidelines of the Giorgio Armani fashion show in Milan, Italy, on 27 September, Armani Group CEO Giuseppe Marsocci said "it is not written in stone that it has to be one investor”, Reuters reported.

Marsocci said that no decision has been made, according to the report, but that it intends to respect the timetable set out by Armani, though a deal would depend on reaching an agreement on “price and details”.

The fashion group is poised to hold meetings with LVMH, L’Oréal and EssilorLuxottica in the coming weeks, the Financial Times reported.

Giorgio Armani joined forces with L’Oréal in 1988 to license beauty products under the brand name, developing a line of make-up, skin care and fragrance inspired by the late designer's vision.

L’Oréal and Armani renewed their partnership in 2018, extending it to 2050.

The French beauty giant’s CFO Christophe Babule said in December 2025 that it was considering the investment opportunity.

Speaking at a ‘Fireside Chat’ with analysts during its Capital Markets Day, Babule said: “We are quite honoured by the consideration of the heirs of the family towards their willingness to see L'Oréal investing in their company.

“I cannot disclose more today, but this is the kind of thing you have to look at if you are a leader like L'Oréal in luxury beauty.”

Cosmetics Business has contacted Armani Group, L’Oréal and LVMH for comment.