Milan

LVMH buys 80% of Loro Piana for 2 billion euros

Cashmere dynasty to retain company leadership

LVMH buys 80% of Loro Piana for 2 billion euros

Milan, July 8 - Italian cashmere and fine wool dynasty Loro Piana has sold 80% of the brand to French holding LVMH for two billion euros, according to a statement Monday. Sergio and Pier Luigi Loro Piana will hold onto 20% of the family business and reserve their posts as directors. LVMH is the world's largest luxury group.

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