Lvmh Takes 80 Percent Stake In Loro Piana For $2.6 Billion - Fashion Labels

MILAN, Italy — French luxury conglomerate LVMH has purchased a majority stake in the Italian luxury wool and cashmere company Loro Piana for €2 billion ($2.57 billion at current exchange rates). The Loro Piana brothers, Sergio and Pier Luigi, will retain the remaining 20 percent stake in the company as well as operational management. “By joining LVMH, a group built around a unique set of other historic Maisons, Loro Piana will benefit from exceptional synergies while preserving its traditional heritage,” said Sergio and Pier Luigi Loro Piana in a statement. “Loro Piana is an exceptionally rare maison, rare in the unique quality … More

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