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LVMH acquires Loro Piana for £1.72bn

LVMH Group has purchased a controlling stake of luxury Italian men and womenswear brand Loro Piana in a deal worth €2bn (£1.72bn).

Under the agreement, LMVH now owns 80% of Loro Piana, the remaining 20% of shares will remain with the company’s family members Sergio and Pier Luigi Piana, who will maintain their roles as heads of the business. 

The acquisition is part of an on-going strategy by LMVH to “buy additional time to manage the smooth transition of the Louis Vuitton brand as it reduces its canvas/logo sales percentage in favour of soft leather goods,” according to analysts at asset management company Berenberg.

The deal represents the latest major fashion acquisition by LVMH since its cumulative stake build in Hermes, now at 22.6%and the €4.3bn (£3.7bn) acquisition of Bulgari in March 2011.

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