Sale of 15 percent of Armani Group could be delayed beyond March 2027 deadline

The planned sale of a 15 percent stake in the Giorgio Armani group may not be completed by the March 2027 deadline set out in founder Giorgio Armani's will. This is according to a report by Corriere della Sera today, which cited internal sources at the group.

The newspaper adds that conditions in the luxury market remain difficult and that negotiations could take longer than expected.

The entrepreneur had stipulated that the Giorgio Armani Foundation, which controls the fashion house, should proceed with the sale of an initial 15 percent stake within 18 months of the succession opening, giving priority to potential strategic partners such as LVMH, L'Oréal and EssilorLuxottica.

According to Corriere della Sera, documents from the Giorgio Armani Foundation indicate that the process of selling the minority stake is still in its initial stages.