CORONA, Italy — Sergio Loro Piana, one of the vice presidents of the eponymous family company, has died. The Italian, who had suffered from illness for sometime, passed away at home, aged 69.
Sergio Loro Piana had headed up his family’s cashmere clothier Loro Piana SpA, along with his brother Pier Luigi Loro Piana, until the time of its sale to LVMH in July of this year. The Loro Piano brothers continued their involvement in the company, following its acquisition, taking up positions as vice presidents and maintaing a 20 percent stake.
The Loro Piana family has been trading wool and fabrics since the early 1800s. The current company was founded in 1924 by Pietro Loro Piana in Italy’s Piedmont region. Pietro’s nephew Franco — Pier Luigi and Sergio’s father — began exporting fine fabrics to international markets in the 1940s. Sergio and Pier Luigi took over in the 1970s, and developed the brand, expanding it into luxury retail.