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Loro Piana

Italian luxury brand From Wikipedia, the free encyclopedia

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For other uses, see Loro Piana (surname).

Loro Piana S.p.A. is an Italian luxury fashion brand specialized in textile manufacturing and ready-to-wear clothing headquartered in Milan. Since its start as a merchant of cashmere, vicuña, linen and merino fabrics, Loro Piana expanded to design knitwear, leather goods, footwear, fragrance and related accessories. The brand is now closely associated with quiet luxury and old money. The company has three divisions: textiles, high fashion and luxury goods. Its core branding includes the Loro Piana family signature and coat-of-arms, depicting a European beech tree, a golden eagle, and two diagonal Stars of Italy, framed by flower thistles.

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It was founded in 1924 by Pietro Loro Piana, an Italian engineer, in the Quarona commune of Piedmont. Since 2013, the company has been majority-owned by LVMH, a French multinational fashion conglomerate. Loro Piana is one of the largest purveyors of cashmere in the world, producing 14.8 million feet of fabric in 2012.[2][3]

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History

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A boutique in Madrid, Spain, 2022

Originally from Trivero, the Loro Piana family started as merchants of wool at the beginning of the 19th century.[4] In the second half of that century, the family moved its activity to Valsesia and founded the wool spinning mill Fratelli Lora e Compagnia, followed by the wool spinning mill Zignone & C. in Quarona at the beginning of the 20th century.[4] In 1924, the engineer Pietro Loro Piana founded the company Loro Piana & C. the town. After taking the lead of the company in the 1960s, Franco Loro Piana, grandson of Pietro, started to export high-quality fabrics to Europe, America and Japan.[5]

During the 1970s, the company was directed by Franco's sons, Sergio and Pier Luigi.[4] Their focus was on top-quality fabric development, including cashmere and extra-fine wools.[2] Sergio and Pier Luigi's research gave birth to the Tasmanian fabric.[2] In the 1980s, Sergio and Pier Luigi started to diversify the business, launching their first ready-to-wear collection and creating the luxury goods division.[4] By the late 1990s, Loro Piana was selling smart tailored jackets, wool overcoats and finely woven cashmere sweaters in its shops in Milan and New York.[5]

In July 2013, LVMH acquired an 80% stake in Loro Piana, becoming their majority shareholder, through a $2.6 billion cash and debt deal.[6][4] Sergio Loro Piana died the same year.[7] In December 2013, LVMH announced that Antoine Arnault would become chairman of Loro Piana.[8] In 2017, LVMH acquired another 5% stake in the company.[9][10] Since 2022, Loro Piana has established its headquarters at Cortile della Seta in Milan's Brera district.[5]

CEOs

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Additional collections

Loro Piana's interior division for luxury home goods was launched in 2006.[14]

In 2021, Loro Piana worked with Hiroshi Fujiwara to design the brand's first-ever capsule collection.[15]

In 2022, Loro Piana introduced its first swimwear collection for women.[16]

Operations

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The company is vertically integrated and handles all stages of production, from the harvesting of natural fibres to the delivery of the finished product to stores.[12] It operates two footwear factories in Porto San Giorgio.[17] Its only out-of-Italy manufacturing facility is located in the Ulaanbaatar region of Mongolia.[18]

Loro Piana reported €700 million in revenue in 2012. Revenue grew to €1 billion in 2019.[12][6]

Supply chain

Loro Piana operates a complex and global supply chain within its textile business.[12] The company reached an agreement with the government of Peru and local villages in the Andes in 1997 to only source vicuña fiber from living animals raised in the area.[3] A decade later, in 2008, Loro Piana helped finance Peru's first private nature preserve for vicuñas, as part of their business agreement.[3] In December 2021, the company gave clients and buyers full traceability – from sheep to store – of their products online, according to The New York Times.[19]

In March 2024, Bloomberg News criticised the company's compensation agreements with local vicuña wool communities for being insufficient and ineffective in combatting subsistence farming.[20] Loro Piana announced enhanced supplier audits in December 2024 to ensure greater compliance with local compensation agreements.[21]

Stores

The first Loro Piana retail store opened in 1999 in Milan.[22] As of July 2022, the brand distributes its products in Europe, North America, the Middle East, China, South Korea, Indonesia and Japan.[23][24] It has a total of 145 stores worldwide as of October 2024.[4] With plans to expand into Sydney, Australia by February 2026.[25]

Marketing

For its advertising campaigns, Loro Piana has worked with renowned photographers including Mario Sorrenti.[26]

Sponsoring

During its history, Loro Piana has sponsored a range of sports competitions, especially in horse riding and sailing, from the Palio di Siena horse race to the Superyacht Regatta in Porto Cervo and races in Saint-Tropez and St. Barths, among others.[27]

Since 2016, Loro Piana has been providing the official uniform of the European team competing at the biennial Ryder Cup.[28] In 2021, the brand entered into an agreement with soccer team Juventus FC to provide the men’s team with formal off-field uniforms, extending the collaboration to the club’s female division the following year.[29]

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See also

References

External links

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