EssilorLuxottica Prepared to Buy 5%-10% of Armani: Il Sole

Eyewear giant EssilorLuxottica SA is prepared to buy a 5% to 10% stake of Giorgio Armani SpA, following the death of the fashion house’s founder, Il Sole 24 Ore reported, without saying where it got the information.

EssilorLuxottica would acquire the stake without having any active role in Armani or representation on its board, the newspaper said on Saturday.