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  1. Wealth
July 9, 2013

LVMH Buys Loro Piana

By Spear's

The Loro Piana family has chosen to sell a majority stake in their family business to the LVMH Group.

The Loro Piana family has chosen to sell a majority stake in their family business to the LVMH Group.

The Loro Piana family began trading wool and fine textiles at the beginning of the 19th century and in April 1924 Pietro Loro Piana established the business in Qarona Sesia, Italy. His family’s influence continues to the present day — with the clothing firm still led by Sergio and Pier Luigi Loro Piana. Loro Piana has also retained its reputation for rare and fine materials, from Vicuna to baby cashmere, merino wool and lotus flower.

However, it is following the path of many famous Italian family fashion brands, who are being subsumed by larger luxury conglomerates. LVMH’s expansive portfolio includes Italian family brands Pucci, Fendi and Bulgari. Its rival Kering (formerly PPR) owns 60 per cent of Gucci, while Prada floated on the Hong Kong stock exchange in 2011.

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