EssilorLuxottica, the Franco-Italian eyewear titan, has announced its interest in acquiring a 5% to 10% stake in Giorgio Armani S.p.A. as the legendary Italian fashion house considers its next chapter following the death of founder Giorgio Armani in September 2025.
This move, widely reported across the European financial press, follows indications in Armani’s will that his heirs should seek a transition of up to 15% of the company’s capital to a select group of strategic partners, specifically naming EssilorLuxottica, LVMH, and L’Oréal as preferred buyers within 18 months.
Stake Structure and Strategic Rationale
Sources close to the discussions confirm that EssilorLuxottica is preparing to buy an initial minority holding—without seeking a board seat or active management role—as a long-standing commercial ally to the Armani group. This proposed structure is consistent with Armani’s vision of maintaining independence and stability while enabling broader global partnerships and capital access.
EssilorLuxottica: A Brief History
EssilorLuxottica emerged in 2018 from the landmark merger of France’s Essilor, a leader in vision care and lens innovation since the 1970s, and Italy’s Luxottica, the world’s top designer, producer, and distributor of fashion and luxury eyewear frames since 1961.
Essilor brought expertise in ophthalmic optics, while Luxottica contributed a massive portfolio including Ray-Ban, Oakley, and exclusive licensing with premium brands. Uniting lens technology and frame design under one group, EssilorLuxottica became the global eyewear industry’s dominant force, recognized for its mission to help people “see more and be more” across more than 150 countries.
Longstanding Partnership and Renewed Licensing
EssilorLuxottica and Armani have worked together for decades, notably through a 15-year global eyewear licensing agreement renewed in 2022. The licensing renewal covers all Armani sub-brands and underscores their mutual commitment to product innovation and distribution scale worldwide.
CEO Francesco Milleri, “With Armani we inaugurate a new long-term partnership model that will anchor us in the same spirit for many years to come.”
Next Phase for Giorgio Armani S.p.A.
This planned stake sale responds directly to Mr. Armani’s succession directives, which are designed to ensure the legacy and values of the house endure. Armani’s will specifically prioritizes maintaining founding principles, with his foundation and long-time business partner Pantaleo Dell’Orco retaining significant voting control.
Analysts suggest this stake transfer will help safeguard the brand’s creative vision and operational stability while attracting global investment amid a shifting luxury landscape.
