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Italy
Del Vecchios buy Armani yacht as they ponder acquiring stake in the luxury brand


Fresh out of the shipyard, the Admiral Giorgio Armani has been acquired by the Del Vecchio family. They are the main shareholder in EssilorLuxottica, which distributes Armani eyewear, and have been designated as a potential shareholder in the fashion house in the late designer's will.

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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