Armani stake sale delayed beyond 2027

The planned sale of a 15% stake in Italian fashion group Giorgio Armani may not be completed until after a March 2027 deadline set by the late designer's will, according to an Italian newspaper report. Citing company sources, Corriere della Sera said market conditions for the luxury industry remain challenging and negotiating a deal could require time. The indications on timing in the will are not binding, and the need to reach the best possible terms for a sale takes precedence. The process is still at an early stage and unlikely to be completed before 2027, according to board documents from the Adani Group. Rothschild & Co banker and foundation director Irving Bellotti told an April board meeting that work on the deal would begin this year but was expected to be completed during 2027. The group has also not ruled out a potential stock market listing. Chief Executive Giuseppe Marino told the foundation's board in April that net group sales in the first two months of 2026 fell 7.5% at current exchange rates and 3.9% at constant exchange rates from a year earlier. The company adopted measures to cut operating costs by EUR 25 million. The drop was driven by the wholesale channel, where sales declined 10.7% year-on-year at constant exchange rates, while direct-to-consumer sales rose 3.5% net of currency effects. Giorgio Armani will approve first-half results on September 8.