Armani is set to begin formal talks with LVMH, L'Oréal and Essilor Luxottica over a potential minority stake sale, following instructions in Giorgio Armani's will to sell 15% within 18 months of his death. The luxury group, led by CEO Giuseppe Marsocci since the designer's passing at 91, is restructuring with Boston Consulting Group assistance to refine brand positioning and expand into higher-margin accessories. An informal proposal suggests the 15% stake could be divided among the three suitors, though investors are cautious about short-term commitments.

The overhaul includes new board members like former Gucci chief Marco Bizzarri and Yoox founder Federico Marchetti, with longtime executive Leo Dell'Orco as chair. Dario Vitale, formerly of Miu Miu, was appointed to revitalize Emporio Armani and drive accessories growth, targeting younger luxury consumers while maintaining the brand's core identity.