Having just announced a costly strategic alliance with Kering Beauté, with the possibility of eventually buying it out, L’Oréal has confirmed that it is still open to discussions with the Armani group with a view to acquiring a stake in the company. The world’s leading beauty company has also just unveiled quarterly results that are slightly below expectations and have been very poorly received by the stock market.
L’Oréal clearly has an appetite for more.
The world’s leading beauty company has informed the Armani group that it is still “open to discussions” with it, “as provided for in Mr. Armani’s will.”
15% of the capital… and more?
Giorgio Armani, who passed away on September 4, asked his heirs to sell “between 12 and 18 months after the opening of the will” “a 15% stake” in the capital of his empire, preferably to one of the three luxury leaders: LVMH, L’Oréal, or EssilorLuxottica.
In a second phase, three to five years after the designer’s last wishes were revealed, the lucky winner will be able to take over 30 to 54.9% of the remaining capital. Failing that, Armani would be listed on the stock exchange.
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Featured photo: © Lancôme
