MILAN Rumors swirled here Wednesday after a leading Milanese newspaper published an article stating that L’Oréal was planning to invest in Giorgio Armani.

 

Though the report was vague, the newspaper, Milano Finanza, said according to its sources L’Oréal was set to acquire a stake in the fashion house before the end of 2008.

 

A spokeswoman for L’Oréal and a spokesman for Giorgio Armani issued a no comment statement in regards to the speculation.

 

L’Oréal holds the licenses to produce and distribute fragrances, cosmetics and skin care for the Giorgio Armani and Emporio Armani brands.

 

For more, see Friday’s issue of WWD.

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