Giorgio Armani fashion business could be sold
Listen to the article (Hong Kong accent)
Giorgio Armani died. He was 91 years old. He started a big fashion company called Giorgio Armani.
In his will, Armani said what should happen to his company. He wrote that he wants his company to be sold. His family should sell a part of the company. They should sell 15% in about a year and a half. After a few more years, they should sell more.
Armani also said who can buy his company. He said a big company named LVMH can buy it. LVMH owns other companies like Dior and Louis Vuitton. He also said the companies L’Oréal or EssilorLuxottica could buy it.
Armani was the only owner of his company. Now, a group called the Fondazione Giorgio Armani owns it. This group will help keep Armani’s ideas safe.
First, the group will find a new leader. Armani’s family and his partner will make small decisions now.
Armani had no children. His sister and other family members have important jobs at the company.
Vocabulary12 words
- Die
- When someone or something stops living
- Fashion
- the style of clothing and how people dress; related to clothes
- Called
- Named; To give something a name
- Will
- A paper/document that says what should happen to a person's money and things after they die
- Part
- a piece of something; a section of a whole thing; not the whole thing
- Name
- To give something/someone a name; call
- Own
- To have something that belongs to you; To have something as yours; something is yours
- Owner
- the person who has something; the person who has the right to control something; the person who has something and can decide what happens to it;
- Group
- two or more people/companies that work together for a reason
- Leader
- someone who is in charge of a group, organization or country; a boss or manager; a person who guides, directs, or commands a group
- Partner
- Someone you work together with
- Decision
- a choice that you make about something after thinking about several possibilities/options; choice; ruling;
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Giorgio Armani _____. He was 91 years old. He _____a big fashion company called Giorgio Armani.
In his _____, Armani said what should happen to his company. He _____ that he wants his company to be sold. His _____ should sell a part of the company. They should sell _____% in about a year and a half. _____ a few more years, they _____ sell more.
Armani also said _____ can buy his company. He said a big company _____ LVMH can buy it. LVMH owns other companies like Dior _____ Louis Vuitton. He also said the companies L’Oréal or EssilorLuxottica _____ buy it.
Armani was the only owner of _____ company. Now, a group called _____ Fondazione Giorgio Armani owns it. This group will help keep Armani’s _____safe.
First, the group will find a _____ leader. Armani’s family and his _____ will make small decisions now.
Armani had no _____. His sister and other family members have _____ jobs at the company.
Discussion questions
- Do you think it is a good idea to sell a big company like this? Why or why not?
- Why do you think Mr. Armani wanted his family to sell his company?
- The will says companies that could buy the business. Why do you think he chose these companies?
- Do you think the foundation will be able to keep Armani's ideas after he is gone?
- Do you think the new leader will change the company a lot? Why?
- Is it important for a company to keep the ideas of the person who started it?
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