85
Fashion Jobs
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
PUMA
Quality Engineer Cobra
Permanent · HO CHI MINH CITY
By
Reuters API
Published
Jun 9, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Armani's future in focus as group denies any interest in Ferrari merger

By
Reuters API
Published
Jun 9, 2021

Speculation over the future of Italian fashion group Armani came to the fore on Wednesday after the Milanese brand said it had no interest in a tie-up with luxury sports car maker Ferrari, as proposed in a plan by investment banks.


Giorgio Armani - Photo: Shutterstock



Succession plans at the firm founded by 86-year-old designer Giorgio Armani, known as King Giorgio in the fashion world, have long been the subject of speculation.

In an interview with Vogue magazine in April Armani opened itself up to the possibility of joining forces with an Italian partner, having previously insisted the group should remain independent.

On Wednesday, Italy's Il Sole 24 Ore newspaper said investments banks, which it did not name, had pitched a plan envisaging a merger of Armani and Ferrari to Exor, the holding company of Italy's Agnelli family and the main investor in Ferrari.

Under the scheme Armani, by merging his company into Ferrari, would become the second-largest investor in the Formula 1 car maker. The paper said both Armani and Exor had ruled out such a plan.
A spokesperson for Armani contacted by Reuters said that project had not been presented to the fashion group which anyway had no interest in it.

Armani's comments to Vogue fuelled speculation about possible interest from Exor, which recently took stakes in shoe maker Christian Louboutin and Chinese luxury group Shang Xia, which was co-founded by France's Hermes. Analysts dismiss the possibility of a merger between Ferrari and Armani but they do not rule out interest from Exor in the fashion brand.

A Milan-based analyst said a valuation of between 5 and 6 billion euros for Armani would entail a 1.0-1.8 billion euro investment by Exor for a stake of 20-30%.

Armani and Exor declined to comment on the market speculation.
 

© Thomson Reuters 2024 All rights reserved.