Armani Foundation may delay 15% capital sale past 2027 deadline

The Armani Foundation may delay the sale of a 15% stake in the Giorgio Armani fashion house beyond the March 2027 deadline set in the founder's will. Following the death of Giorgio Armani in September 2025, the foundation is tasked with divesting this portion of capital, but difficult market conditions in the luxury sector are prompting a more cautious approach to secure the best possible terms.

The foundation is expected to offer the stake to major industry players, including LVMH, L'Oréal, and EssilorLuxottica. However, internal documents suggest the process is in its early stages, with a conclusion potentially pushed into 2027 or later. An initial public offering (IPO) remains a possible alternative to maintain strategic control through the foundation.

Financial performance has recently faced headwinds. During the first two months of 2026, the group's net turnover decreased by 7.5% at current exchange rates and 3.9% at constant rates. This decline was driven primarily by a 10.7% drop in wholesale business, although direct-to-consumer sales saw a 3.5% increase. In response to these trends, the company has implemented approximately 25 million euros in operating cost reductions.