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Armani says he is open to partnership

April 16, 2008 at 12:20 PM

MILAN, Italy, April 16 (UPI) -- Italian fashion giant Giorgio Armani said Wednesday his company is open to a partnership, but not a public sale or an equity group takeover.

"I'd prefer a real partner, best with a group which already knows us, has a connection with our group and wants to engage in a full relationship," Armani said.

He would not be pinned down to naming any company and shrugged off the notion that French cosmetic company L'Oreal would be a good match, ANSA reported.

''I did not say that and you won't make me,'' Armani said.

Armani recorded increases in retail turnover and gross profits of $1.59 billion in 2007.

Armani, 73, said, "right now I'm fine, but when I'm 90 I won't be."

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