Armani representatives approached potential buyers for a minority stake in the renowned Italian fashion group, three sources told Reuters. The move effectively launched an informal auction for part of one of the world’s most renowned fashion empires, just weeks after the designer’s death.

L’Oréal is among those approached, two of the people said. The sources added that the company has not yet solicited private equity bidders as potential buyers.

Two of the sources said Rothschild expects to advise Armani on the transaction. The group maintains a link to the advisory firm through Irving Bellotti, a Rothschild partner who sits on the board of the Armani Foundation.

One of the people said the talks remain at an early stage and warned that negotiations could take months to advance.

Armani

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