Giorgio Armani’s will says his brand should be sold or seek IPO

Late founder instructs heirs to gradually sell stakes in fashion house with priority given to LVMH, L’Oréal or EssilorLuxottica

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The Italian fashion house Giorgio Armani could soon be sold or become a publicly listed company, according to the late founder’s will.

The fashion designer, who died last week at the age of 91, has said in his will that he wants his heirs to sell a 15% stake in the business within 18 months.