Manila, Sept. 14 -- Giorgio Armani's will, details of which were made public on Friday, dictates that his fashion brand should be sold to another giant in the luxury sector or listed on the stock exchange.

The great Italian designer, who died aged 91 last week, did not have any children to leave the fashion house to.

Armani directed that his fashion house, Giorgio Armani SpA, be placed under the control of a foundation.

The foundation will directly own 9.9 percent of the company, while the remaining 90 percent will be divided among Armani's close circle: his long-time partner and right-hand man Pantaleo Dell'Orco, his sister Rosanna, nieces Silvana and Roberta, and nephew Andrea Camerana.

Dell'Orco emerges as the key figure, holding 4...