Armani heirs favour IPO over sale to industry player, sources say

MILAN: The heirs of late designer Giorgio Armani, who now control the eponymous fashion empire, favour an eventual stock market listing over a sale to a large industry player as they pursue an initial minority stake deal, two people familiar with the matter told Reuters. Armani, who died at 91 last year, stipulated in his will that his heirs should sell around 15% of the company between 12 and 18 months after his death, followed by the disposal of a further 30% to 54.9% stake or a bourse listing

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