EssilorLuxottica Emerges as Contender for Armani Stake as Wearables Push Accelerates
Published on 09/28/2026 at 13:40 | Editorial boerse-global.de
Talks over the future ownership of Giorgio Armani are set to move into a concrete phase, with EssilorLuxottica named among the suitors circling the Italian fashion house. According to Armani chief executive Giuseppe Marsocci, negotiations with strategic buyers over the 15 percent tranche earmarked in Giorgio Armani's will are expected to kick off in late September or early October.
LVMH and L'Oréal appear alongside the Franco-Italian eyewear group on the shortlist of preferred partners, and Marsocci has left the door open to splitting the holding between several investors — a carve-up into 5 percent slices is one option under discussion. No final decision has been taken.
A Succession Plan Built for Staggered Exits
The blueprint left by the late designer calls for an initial disposal within 18 months of his death, with further tranches or even a Milan-listed IPO possible in subsequent years. For the luxury and consumer groups involved, a stake would lock in licensing relationships that have run for years. Armani booked net revenue of EUR 2.19 billion in its 2025 financial year, while Reuters put the fashion house's net cash at roughly EUR 500 million at the end of 2025. Market chatter has floated valuations as high as EUR 10 billion, though investors are more inclined to peg the business at EUR 3 billion to EUR 7 billion.
The mention by Armani's leadership underscores EssilorLuxottica's growing weight in the global luxury arena. Reuters reported on 15 September that Prada and EssilorLuxottica had held exploratory talks of their own, centred on a possible tie-up to develop connected eyewear under Prada group brands. As with the Armani discussions, no binding agreement has emerged.
Should investors sell immediately? Or is it worth buying EssilorLuxottica?
Meta Rollout Reaches Four New Markets
Running in parallel, EssilorLuxottica is widening its portfolio of web-connected frames. Meta said last week that the lineup it markets with Ray-Ban and Oakley will swell to more than 100 style variants by year-end. Distribution has already begun in Singapore, South Korea, Mexico and the United Arab Emirates, and the next-generation device is scheduled to ship from 13 October.
The category has also drawn legal attention. Paris investigators opened a criminal probe on 18 September into suspected sexual harassment after women were allegedly filmed without consent using smart glasses and the footage posted online. EssilorLuxottica and technology partner Meta Platforms were identified in press reports as the originators of the device category, although neither company is named as a target in the investigation itself.
Hearing-Aid Glasses and a Buyback
Beyond fashion and wearables, the group is pushing its own health-tech developments. On 24 September it unveiled Nuance Audio Plus, a hearing-support frame slated to launch in Canada on 30 September at an entry price of $1,149 depending on lens configuration.
Management moved to support the stock on 18 September, drawing on the authorisation granted at the 28 April 2026 annual meeting to repurchase 287,000 of its own shares at an average daily price of EUR 139.2931.
Sentiment in the market has been mixed. The shares closed Friday at EUR 144.80, leaving them down 47 percent since the start of the year and just 4.9 percent above their 52-week low. Monday brought a brighter tone, with the stock adding 2.0 percent to EUR 147.75 — a modest rebound that still sits against a year-to-date decline of 45 percent. Whether the Milan negotiations translate into a binding commitment is the question the coming weeks will answer.
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