Armani CEO says stake sale could involve multiple investors, no decision made

By Reuters News

By Elisa Anzolin

MILAN, Sept 27 (Reuters) - Italian luxury group Armani is open to considering more than one investor for the sale of a 15% stake earmarked in founder Giorgio Armani's will, Chief Executive Giuseppe Marsocci said on Sunday.

"It is not written in stone that it has to be one investor," Marsocci told reporters on the sidelines of the Giorgio Armani fashion show, adding that no decision had yet been made.

Armani, who died at 91 last September, had named French luxury group LVMH LVMH.PA, beauty products maker L'Oreal OREP.PA and eyewear group EssilorLuxottica ESLX.PA as preferred buyers for the company.

Marsocci, who took over as chief executive last October, said the fashion house intended to respect the time frame set out in the founder's will, although any transaction would depend on reaching an agreement on "price and details".

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