A Wren Says

Giorgio Armani passed away just over a week ago. His brand was one of the few independent luxury houses left. But in his last will and testament, he specifically asked for it to be sold. LVMH, L’Oréal Group or EssilorLuxottica will have the option to purchase stakes in the company. Or the heirs should seek an IPO.

So, as has been reported, this is a plot twist. But what does it really mean? To be perfectly honest with you, I’m not sure. What I would guess is that this is ensure longevity of the brand without forcing family to take things over. All I really know is that it really does signal and end of the era. Even he could predict that things would have to change.