LVMH buys Loro Piana

Founded in 1924 in Quarona, Italy, Loro Piana is one of fashion’s longest and most estabished players, known for luxury knits and furs, and innovative new techniques. On Monday it was reported that LVMH was acquiring an 80 percent stake in the company for a sum worth 2 billion euros.

The remaining 20 percent will stay in the hands of the family with brothers Sergio and Pier Luigi Loro Piana continuing to helm the firm. 

Alongside their own collections, Loro Piana produces high-end fabrics and knitwear for fashion houses like Brioni and Christophe Lemaire, as well as mid-range retailers like Brooks Brothers. 

LVMH has investments across the luxury industry, but is perhaps best known to fashion fans as the owner of French fashion brands Louis Vuitton, Givenchy and Céline (alongside some other giant international names like Fendi and Marc Jacobs).

The move is part of a wider trend which sees smaller luxury brands bought up by bigger names. Earlier this year LVMH rival Kering (formerly known as PPR) took control at Christopher Kane, while in December last year Diesel boss Renzo Rosso added Marni to his collection of high-end labels. 

jt /cm