LVMH acquires high-end Italian wool apparel comp - sportstextiles: Lea SportsTextiles

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LVMH acquires high-end Italian wool apparel company

09/07/2013
The Loro Piana family has announced the sale of a majority stake in their high-end wool-based textile and apparel company to luxury group LVMH.

At the time of the announcement, LVMH chief executive, Bernard Arnault, commended the “unique quality and craftsmanship” of Loro Piana products and also the company’s “unbroken heritage and careful family husbandry over six generations”.

Sergio and Pier Luigi Loro Piana will retain a 20% shareholding and continue to lead it day to day.

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