Loro Piana

Loro Piana is an Italian clothing company specialising in high-end, luxury cashmere and wool products.

History

Originally from Trivero (a textile district in north Italy), the Loro Piana family started as merchants of wool fabrics at the beginning of the nineteenth century. In the second half of the century, the family moved its activity to Valsesia and founded the Lanificio Fratelli Lora e Compagnia, followed by Lanificio di Quarona di Zignone & C. at the beginning of the 20th century.

Loro Piana was established, in 1924, by Pietro Loro Piana. In the post-war period, his nephew Franco took over the company and moved it into the international high fashion markets.

On July 8, 2013, LVMH have purchased 80% of Loro Piana for €2 billion, the rest of shareholding remaining in Loro Piana family's hands.[1] On 19 December 2013, Sergio Loro Piana died.[2]

Stores

The company has stores in Italy, as well as in many major cities in Europe, North America, and Asia, totalling 132 stores worldwide.[3]

Operations

In 2012, turnover reached €700 million and net income represents 20% of sales.[1] In December 2013, LVMH announced that Antoine Arnault would become chairperson of Loro Piana.[4]

Sponsorship

In 1985, the company began sponsoring Italian and international horsemen and partnered with the Italian Equestrian Sports Federation (FISE).[5] Loro Piana sponsored the Around the Island Race 2006 in Hong Kong.

Since 2000, Loro Piana has awarded a prize for the world’s finest bale of wool, which produces just enough fabric for 50 suits. The cup is awarded to an Australian or New Zealand woolgrower, who produces the year's finest bale.[6] In 2008, Loro Piana paid a record 48,000 cents per kilo for a bale 12.5 micron Merino wool produced by Peter and Greg Munsie and Phil and Judy Fittler of Uralla, New South Wales.[7]

References

  1. ↑ 1.0 1.1 "Prêt à porter: LVMH s'offre 80% du groupe Loro Piana - L'Express avec L'Expansion". lexpansion.lexpress.fr. Retrieved 9 June 2014.
  2. ↑ Zargani, Luisa (20 December 2013). "Sergio Loro Piana Dead at 65". WWD. Retrieved 20 December 2013.
  3. ↑ "Loro Piana Stores in the World". Loro Piana. 2009. Retrieved 8 September 2009.
  4. ↑ Miles Socha (5 December 2013). "Younger Arnaults Gaining Greater Power at LVMH". WWD. Retrieved 8 December 2013.
  5. ↑ "Loro Piana is the official supplier for the Italian eventing and dressage teams - Industry Press Releases". arabianbusiness.com. Retrieved 12 April 2015.
  6. ↑ Australian Wool Network News, Issue #19, July 2008
  7. ↑ Kelvin Vale Ram Sale, 2009, Uralla Printers

External links

See also