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Post by The Ultimate Nullifier on Dec 20, 2013 17:05:17 GMT -6
Sergio Loro Piana, a vice president of his family's namesake Italian cashmere company, has died at aged 65 after a long illness, Women's Wear Daily reports.
Along with younger brother Pier Luigi Loro Piana, who alternated top executive duties at the Quarona, Italy-based company, Piana became a billionaire earlier this year when LVMH purchased an 80 percent stake in the company. The brothers continued their involvement in the company after the sale, serving as vice presidents and maintaining a 20 percent stake.
The brand, which informally began as a wool and fabric trade in the 1880s and was officially founded in 1924, is known for high end, classic rare cashmere pieces for both men and women, with an offering of leather goods and accessories combining Italian manufacturing principles with old world-infused modern design (think of-the-moment desert boots made from butter-soft Italian leather). Angelina Jolie, Rosie Huntington-Whitely and Katie Holmes are fans of the label, which sells to J.Crew, Brioni and Bloomingdale's.
Piana is survived by his wife and three children.
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