The will of late fashion designer Giorgio Armani instructs heirs to sell a 15 percent stake in the Italian fashion house within 18 months and later transfer an additional 30 percent to 54.9 percent to the same buyer between three and five years after his death, according to a copy of the will reviewed by Reuters.
In alternative, an initial public offering should be pursued, the will said.
The will also states that priority should be given to luxury giant LVMH beauty heavyweight L'Oréal, eyewear leader EssilorLuxottica or other groups.
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