LVMH Moet Hennessy Louis Vuitton (LVMHF.PK) has agreed to acquire 80% of Italian cashmere...


LVMH Moet Hennessy Louis Vuitton (LVMHF.PK) has agreed to acquire 80% of Italian cashmere clothier Loro Piana for €2B ($2.57B). The deal will provide LVMH deep knowledge in textiles from sourcing to manufacturing, and help the company expand into the faster-growing very high end of the market - Loro Piana sells cashmere sweaters for $1,385. That could help offset the slowdown at Louis Vuitton, LVMH's biggest brand. (PR)

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