Armani’s Will Suggests Potential Suitors for Fashion Empire, Tagging LVMH, EssilorLuxottica and L'Oreal

NEWARK N.J.—Fashion icon Giorgio Armani, who passed away at 91 on September 4 in Milan, has outlined instructions for his brand in a will that was unsealed a week after his death. Over the course of 50 years, Armani built a fashion empire with a value estimated by reliable news outlets to be between €5 billion and €12 billion. In his parting instructions, the head of one of the world’s most recognizable fashion empires, who did not have children, directed his heirs to slowly sell off his well-known brand, tagging the French luxury group LVMH, eyewear giant EssilorLuxottica, cosmetics group L’Oreal, or a company of “equal standing” as potential suitors.