Giorgio Armani, the Italian fashion designer, has said in a newspaper interview that he was prepared to sell his fashion empire.

“I’m prepared to sell to the highest bidder,” Armani told the business daily Handelsblatt at the opening of an Armani exhibition in Milan on Tuesday.

French group L’Oreal, which already cooperates with Armani in perfumes and cosmetics, has frequently been mooted as a possible buyer.

“L’Oreal could be a partner. But if somebody else offers more, they could also be a partner,” said the 72-year-old designer, who has no children.

Experts estimate that Armani is worth about five billion euros (6.6 billion dollars).

- YahooNews