Mr Giorgio Armani firmly denies remours he intends to sell his company

In an interview to Italian daily Corriere de la Serra, Mr Giorgio Armani, now 75, firmly denies any intentions to sell his company, despite mounting rumours about his health which has kept him away from the media spot in the past three months. He clearly stated that as long as he felt healthy, he would like to remain involved in every aspect of his business and he has no desire or need to sell. The most rumoured potential buyer has been L’Oreal Group which already has an extensive licensing agreement with the Armani group for its fragrances and cosmetics lines.

In March 2010, Mr Armani confirmed he will personally attend to the opening of the first ARMANI HOTEL in Dubai within the world’s tallest building Burj Khalifa. The Milan Armani Hotel is also due to open later this year.