Armani's equity may be sold, who will take over?

The will clearly outlines Armani's sales plan, which is divided into two phases: within 18 months after the death of Giorgio Armani, the heir must sell an initial 15% stake in the brand; in the following 3 to 5 years, an additional 30% to 54.9% of the shares must be transferred to the same buyer, gradually transferring control. At the same time, the will also provides an alternative plan, if the above sales plan cannot be realized, the heir should immediately initiate an initial public offering to take the Italian family brand to the capital market. In the will, the Giorgio Armani Foundation and his trusted assistant Pantaleo Dell'Orco collectively hold 70% of the voting rights of the Armani Group, if the company eventually goes public, the foundation will retain 30.1% of the shares. The potential buyers that Giorgio Armani favors are also detailed in the will, with LVMH Group, L'Oral, and eyewear giant Luxottica being the top priority considerations, which is in stark contrast to Giorgio Armani's long-standing refusal to dilute control or take the group public. It is worth noting that the will also encourages the heir to consider including other fashion and luxury companies that have business dealings with the Armani Group in future sales, as long as they have the vision, all major players could potentially become the next "lucky buyer".