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Giorgio Armani is going to sell his 5-milliard “fashion empire”

20 February 2007
Written by: webmaster Posted under Celebrities

The general designer of the Italian Fashion House has officially declared that he is going to sell the well-known trade mark together with exclusive clothes manufacture, accessories, and also the well-known perfumes and cosmetics. Such information was given by the designer in his interview to the Handelsblatt magazine. The 72-year-old founder of the most known Italian mark has no successors.
The experts estimate the cost of Armani concern, based in 1975, in five billions dollars. Armani has officially declared that he is ready to sell his concern to the one, making the best offer.
Till now the founder and the main designer of Armani House opposed any sales. Nevertheless, for the last months, there have been hearings that Armani was going to finish with family business. His niece, Roberta Armani, working as the designer at the uncle’s house, has started to appear in mass-media. However the last intentions of the designer show that the sale of the most known Italian mark is becoming more and more probable.
French cosmetic giant L’Oréal is being considered as the most probable buyer, which has already received the license for Armani perfumes manufacturing. The chief of the French company does not exclude the greater rapprochement with the Italian House of a fashion, having emphasized, that L’Oréal has no concrete plans for Armani trade mark till now.
Nevertheless Armani has refused to confirm this information. The designer has told that L’Oréal could become the partner but if someone would offer more it can also become the partner.
According to the president of Intercorporate- the consulting company, specializing on luxury sector, the merge of L’Oréal und Armani is quite reasonable as both companies are specializing on cosmetics and fashion. 
Last year L’Oréal has gained 1, 8 billion euro profit at 16 billion euro of trade capital. In 2005 Armani has gained 191 million euro profit at 1, 4 billion of trade capital.


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