Loro Piana: Antoine Arnault appointed chairman
The important luxury news of the day is the appointment of Antoine Arnault as the chairman of the recently acquired brand, Loro Piana. Antoine Arnault is already at the head of Berlutti. At the time of the 2 billion-euro deal, Sergio and Pier Luigi Loro Piana were said to remain at the head of the company. They now will become vice-presidents.
One of the main goals of this acquisition was to gain share in the Asian market. Indeed, Asian customers are keen of high-end handcrafted products (Shang Xia of Hermès is one of the best example). What is going to become of this brand? Future will tell!