New Delhi, Sept. 28 -- Milan-headquartered luxury fashion group Giorgio Armani is likely to sell its first 15 per cent stake in the company to more than one partner, according to Giuseppe Marsocci, chief executive officer (CEO) of the luxury fashion house.

Marsocci made these remarks on the sidelines of the Giorgio Armani fashion show, telling reporters, "It is not written in stone that it has to be one investor," adding that no decision has been made so far. Marsocci, who became CEO last October, said the fashion house would adhere to the timeline outlined in the founder's will, while noting that any deal would depend on reaching an agreement on the "price and details."

Giorgio Armani, the company's founder, who died at the age of 91 i...