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Italy
How the Del Vecchios won over Giorgio Armani

Reading time 2 min

Glitz revealed the names last week of the three luxury groups that had tried to acquire Giorgio Armani in recent years. A week later, the late designer's will asks his heirs to do business with one of these groups. We reveal further details about the talks that took place during his lifetime.

This article is part of this Running Story

Luxury giants jostle and waver over Armani acquisition All articles

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Kering's deal with L'Oréal weakens bargaining position of Armani heirs

By selling its Beauté division to L'Oréal, Kering has weighed down the balance sheet of the beauty giant and reduced its room for manoeuvre for acquiring 15% of Armani. For their part, the heirs of the Italian designer, who have 12 to 18 months to complete the opening up of the group's capital, have found themselves deprived of leverage to negotiate with the other potential buyer, LVMH, which is itself torn over the deal.

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