Armani prepares 15% share sale as succession plan unfolds 

FRANCE – Giorgio Armani SpA is actively considering the sale of a 15% minority stake, potentially divided equally among three strategic buyers: L’Oréal SA, LVMH Moët Hennessy Louis Vuitton SE, and EssilorLuxottica SA.

This approach aligns with the succession plan outlined in the will of founder Giorgio Armani, who passed away in September 2025 at age 91. The will mandates selling the 15% stake within 12 to 18 months of its reading, prioritizing these luxury and beauty giants or comparable fashion/luxury entities. 

Reports indicate CEO Giuseppe Marsocci is developing a five-year business plan and engaging advisers to structure the transaction, sharing details with investors before formal launch.

Each of the three firms could acquire a 5% tranche, enabling them to share in Armani’s initial post-founder phase. 

LVMH brings luxury expertise, L’Oréal focuses on beauty and cosmetics, and EssilorLuxottica specializes in eyewear, key pillars of Armani’s portfolio spanning fashion, fragrances, and accessories. 

Beyond the initial sale, the company will envisions a second phase between 2028 and 2030, potentially involving an IPO or further divestment of 30% to 54.9% to the same initial buyer(s). No final decisions have been confirmed, but the process advances Armani’s long-term independence while injecting capital from aligned industry leaders.

Meanwhile, LVMH Luxury Ventures, the private equity arm of the luxury conglomerate, recently acquired a minority stake in BDK Parfums, a prominent French niche perfume brand.

This strategic investment, announced around late November 2025, marks BDK Parfums’ first external funding since its founding in 2016 by David Benedek. 

Financial terms remain undisclosed, but the partnership aims to fuel the brand’s global expansion without compromising its creative independence.

BDK Parfums specializes in high-end, unisex fragrances made in France, offering a collection of 23 scents alongside hair perfumes, candles, and linen sprays priced from €50 upward. 

The brand opened its debut flagship boutique on Paris’s Rue Saint-Honoré in January 2024 and has seen robust sales growth, reportedly up 45% year over year.

The funding will support international market penetration in regions such as the Middle East, the U.S., and Asia, along with new flagship store openings, product line extensions, and team growth in Paris. 

LVMH Luxury Ventures, which backs other high-potential luxury names like Our Legacy and Gabriela Hearst, positions this as a bet on the booming niche fragrance sector amid rising M&A activity.

This move caps a wave of consolidation in niche perfumery, with BDK maintaining operational autonomy while leveraging LVMH’s distribution and retail expertise. 

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