The LVMH (Moët Hennessy Louis Vuitton) group, which owns luxury brands, announced the acquisition of the Italian fashion brand Loro Piana. The acquisition will involve an 80% stake in Loro Piana for approximately 2 billion euros (approximately 260 billion yen).

Loro Piana is a textile brand known for its high-quality fabrics, including cashmere and merino wool. The company has been involved in the trade of wool and luxury fabrics since the early 19th century and was founded in 1924. Currently, it trades with over 130 boutiques worldwide. Having remained family-run for six generations, becoming part of the LVMH Group will enable the company to maintain its traditions while seeking further growth through synergies with the group. The brand's sales for fiscal year 2013 are expected to reach 700 million euros (approximately 91 billion yen).

In addition, Loro Piana's current representatives, Sergio Loro Piana and Pier Luigi Loro Piana, will remain in their current positions, and the founding family will continue to hold a 20% stake in the company.