Companies

Loro Piana invests in fibres

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Italian luxury company Loro Piana expects double-digit sales growth to continue in 2013 as it expands its niche in the ultra-luxury sector. The Italian manufacturer has also recently acquired a 60% share in Sanin SA, an Argentinean company which owns the rights to the controlled shearing of alpacas in the country.

The purchase comes with a reported 85,000 hectares of land in the Catamarca province of northwest Argentina, where the animals graze. As well as strengthening its raw material supply chain, Loro Piana hopes this acquisition will guarantee the highest fibre quality safeguarding at the same time these rare animals. Between 6 and 8 thousand kilos of extremely fine vicuna fibre are produced every year, compared with 10 million kilos of cashmere.

According to Loro Piana Europe continues to remain its strongest market, followed by the United States, China and Russia.