Late designer Giorgio Armani has instructed heirs to gradually sell the fashion brand he created 50 years ago or seek a stock market listing, his will said, marking a surprising turn for a company highly protective of its independence and Italian roots.

The will, reviewed by Reuters, states heirs should sell an initial 15% stake in the Italian fashion house within 18 months and later transfer an additional 30% to 54.9% stake to the same buyer between three and five years after Armani’s death.

The designer, known in the industry as ‘King Giorgio’ died on September 4, at 91 and with no children. 3

The will also says that priority should be given to luxury giant, beauty heavyweight L’Oreal, eyewear leader EssilorLuxottica or another group of “equal standing” identified by a foundati

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