Sergio Loro Piana passes away, aged 69

Sergio Loro Piana died today at home, aged 69, due

to illness. He was the brother of Pier Luigi Loro Piana and part of the 6th generation of family to run the eponymous company, before selling an 80 stake in the company to LVMH earlier this year.

Prior to the sale of the family cashmere company, Sergio Loro Piana had run the company together with his brother, agreeing to rotate their positions, CEO and Chairman, every three years. After the luxury holding company acquired Loro Piana, the brothers took on the role of vice-president and retained a 20 percent stake in the family company.

The cashmere clothier company was founded in 1924 by Pietro Loro Piana, following a long family history of working and trading fabrics. It was Sergio's and Pier Luigi father, Franco, who first began exporting high quality fabrics overseas during the 1940s, before the brothers took over the company business during the 1970s and launched the company's luxury brand.