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Giorgio Armani, 72, may be preparing to sell his fashion house according to reports. L’Oreal is thought to be the lead prospect as purchaser of the brand since they are already partnered with Armani in cosmetics and perfumes.
“I’m prepared to sell to the highest bidder,” Armani told the business daily Handelsblatt at the opening of an Armani exhibition in Milan.
“L’Oreal could be a partner. But if somebody else offers more, they could also be a partner”.
(Update: This source has reported that Giorgio Armani disputes claims he is selling his fashion business and that Armani states his remark to the reporter was misunderstood and he did not give a full interview)