L'Oreal and Armani speculations

In contrary to last week’s rumours, it seems L'Oreal is not taking over Giorgio Armani after all. "It's pure speculations. There's not been any contact between the two companies about the subject," said Robert Triefus spokesman of Armani (Reuters).

In 2003, at an age of 70 years, old Armani received an award for his oeuvre. After the celebration rumours did the round, Armani was thinking to retire to enjoy the leisures of life. Sources said Armani would rather go for L'Oreal then a mammoth company like LVMH. Even though Armani is on age, nothing shows the designer is about to sell his business. He still runs the whole company and is in charge of everything, whereas other fashion brands would have been taken over by multinationals decades ago.

According to Milano Finanza, Armani is set to sell between £1.55 to £2.21. Even though L'Oreal owns the licensees of Giorgio Armani Cosmetics, both parties won't comment about a potential take over. Sources in the fashion industry think it's very unlikely of the two to get together, as history shows collaborations between fashion and cosmetic concerns don't work out that well i.e. Clarins and Thierry Mugler, and Procter & Gamble and Rochas. When L'Oreal teamed up with Lanvin, the relationship didn't last long either.