The Globe and Mail reports in its Saturday, Sept. 13, edition that late designer Giorgio Armani instructed his heirs to gradually sell the fashion house he founded 50 years ago or to pursue a market listing, according to his will. A Reuters dispatch to The Globe reports that this heralds a race for control of the brand and marks a significant shift for a company known for its independence and Italian heritage. Mr. Armani died on Sept. 4 at 91 with no children to inherit his fashion empire, which industry analysts value at between $8.1-billion and $19.4-billion. The will says that priority should be given to luxury conglomerate LVMH, beauty heavyweight L'Oreal, eyewear leader EssilorLuxottica or another group of "equal standing" identified by a foundation Mr. Armani set up to preserve his legacy with the agreement of his business and life partner Pantaleo Dell'Orco. All three companies named issued statements suggesting they were open to the possibility of a deal. The mention of stake sales and France-listed buyers surprised many, as Mr. Armani has consistently resisted diluting his control or listing his fashion group, which still attracts interest despite a global luxury slowdown.