Armani may sell a total of 15% of its shares to L'Oreal, LVMH, and Estee Lauder.

Italian fashion brand Giorgio Armani is considering splitting its 15% company share equally into three parts for sale after the founder's death, introducing three pre-selected buyers as shareholders, an Italian newspaper reported on Sunday. Armani, who passed away at the age of 91 in September last year, had designated French luxury group LVMH, as well as two commercial partners - beauty giant L'Oreal and Luxottica, as the preferred buyers of company shares. According to the report by Italian newspaper "Repubblica", Armani's CEO Giuseppe Marsocci is currently working on developing a business plan and plans to hire two consultants to supervise the sale of shares. Subsequently, the consultants will submit Marsocci's five-year business plan to potential investors. Before officially starting the sale process, the group plans to split the 15% shares into three parts, which also aligns with Armani's will - requiring the sale of shares to be completed within 12 to 18 months after his death. The report suggests that this splitting method will help all three buyers maintain their interest in the initial stages. Currently, the Armani group has not provided an immediate response to requests for comment on this matter.