LVMH has acquired 80% of Italian luxury cashmere clothing brand Loro Piana for 2 billion euros, more than 3.8 times the company's expected 2013 sales of 700 million euros, with the aim to further expand the brand's worldwide footprint. Brothers Sergio and Pier Luigi will retain their management positions in the company and keep a 20% stake.
Loro Piana boasts an average annual sales growth of 17% over the past three years, with 30% of total revenue coming from Asia. Its 185 stores and shop-in-shops represent 85% of its revenue.
The fashion house launched its Interiors collection six years ago with a highly edited assortment, based on the finest quality fibers in a refined color palette. Its showroom is in New York's Decoration and Design Building, suite 820.
Loro Piana started as a wool mill in northern Italy in 1924, is now the largest Western manufacturer of cashmere and baby cashmere.
News categoriesAll News >
Editor Carisha Swanson shares her Swedish furniture fair picks
The huge Italian brand you don’t know yet is coming to LA
Houzz brings trends to life at London pop-up
Why every designer needs these credentialsTrade Shows | 4:44Why every designer needs these...
How the wellness trend is translating to kitchens and bathroomsTrade Shows | 4:00How the wellness trend is...
Newel Welcomes The Silver PeacockStore/Showroom Event
Fort Worth Show of Antiques & ArtAntiques Show
Design Bloggers ConferenceIndustry Association Event
Lauren Rottet signs books at Mass Beverly
Helmut Newton exhibit debuts at Guy Regal
Veranda celebrates new issue with Katie Leede
- Tag Sale
- In Print