Cashmere magnate Sergio Loro Piana dies at 69
Comes weeks after selling high-end brand to French investors20 December, 14:39
In the deal he also relinquished his role as CEO, becoming co-vice-president along with his brother Pier Luigi. The Loro Piana family says that jobs will be protected at the Italian operation, known for tailoring some of the world's finest suits and other luxury garments.
The sale of the company was the latest in a series of beloved Italian trademarks being sold to foreign investors. (photo: Sergio, left, and Pier Luigi Loro Piana.