×
486
Fashion Jobs
ADIDAS
Senior Manager - Procurement Operations
Permanent · CHENNAI
MOLEDRO
Operation Manager
Permanent · NEW DELHI
MOLEDRO
HR &Admin
Permanent · NEW DELHI
MOLEDRO
Brand Manager
Permanent · NEW DELHI
MOLEDRO
sr Fashion Designer / Production Manager
Permanent · NEW DELHI
ADIDAS
Manager Information Security
Permanent · GURUGRAM
ADIDAS
sr. Manager Sales Excellence
Permanent · GURUGRAM
CL GUPTA RETAIL PRIVATE LIMITED
Production Manager Cum Quality Control Manager
Permanent · Noida
UGRAYA FOODS
Production Manager || Agartala (Tripura) || Poultry Feed Industry
Permanent · Agartala
GOVIND KRIPA INFRATECH PVT. LTD.
HR/Telecalling/Sales Manager/Sales Executives/Asst. Sales Manager
Permanent · Jaipur
JUMBO BAGS
Manager- Production (Fibc / Woven Polypropylene Industry)
Permanent · Chennai
ADIDAS
Manager, Masterdata And Product Launch (.Com & Digital Partners), Apac
Permanent · GURUGRAM
ADIDAS
Manager, Digital Backend Operations, Apac
Permanent · GURUGRAM
THE HOUSE OF DEEPTHI LIMITED
Production Manager
Permanent · MUMBAI
MANPOWERGROUP SERVICES INDIA PRIVATE LIMITED
Hiring-Field Sales Manager
Permanent · Chennai
YUTIKA NATURAL
Area Sales Manager (Guwahati)
Permanent · Katihar
LENSKART
Area Operations Manager
Permanent · Chennai
ELECTRONICA FINANCE
Area Sales Manager - Mumbai- Vasai
Permanent · Mumbai
ADIDAS
Manager Learning & Development & Knowledge Management (M/F/D)
Permanent · CHENNAI
D.LIGHT
Hiring For Area Sales Manager | Bihar | d.Light Energy
Permanent · Patna
CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED
Loan Against Securities - Area Sales Manager
Permanent · Chennai
ANAND RATHI GLOBAL FINANCE
Hiring For Area Sales Manager Sme- Lap
Permanent · Mumbai
By
Reuters
Published
May 26, 2013
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Loro Piana rides high through recession in ultra-luxury sector

By
Reuters
Published
May 26, 2013

ROME - Italian luxury firm Loro Piana expects double-digit sales growth to continue in 2013 as it expands its niche in the ultra-luxury sector, its chief executive told Reuters on Friday.

Pier Luigi Loro Piana said barring major upsets, sales should grow a little over 10 percent this year, after growth of 13.1 percent to 630 million euros (£538.7 million) in 2012.

Sales grew in Italy in 2012 despite the country's longest recession on record, bolstered by purchases by tourists from emerging countries, but Loro Piana said he expected a recovery in European markets in 2014.

The family-owned group on Friday announced it was extending production of its highest-end products by buying 60 percent of Argentinian company Sanin SA, which has the rights to shear wild vicunas, llama-like animals that live in the Andes mountain range and produce a rare and very soft wool.

Between 6 and 8 thousand kilos of extremely fine vicuna fibre are produced every year, compared with 10 million kilos of cashmere. Loro Piana's vicuna coats sell for about 14,000 euros.

The chief executive said focusing on the highest end of the luxury market had allowed the company to remain buoyant despite depressed consumer spending in key European markets. Overall, company sales have increased just under 50 percent since 2008.

"Being at a very high quality level was the only way for us to survive. We were lucky that this strategy was successful," Loro Piana said.

Continued growth in China echoed results from fashion house Giorgio Armani this week.

However, many listed groups including LVMH, Richemont and Hermes have said sales were slowing as China's crackdown on corruption affected gift giving.

Loro Piana said that Europe remained its strongest market, followed by the United States, China and Russia.

He urged Italy's new government to reduce labour taxes to stimulate growth and ensure competitive energy prices for industry, and said while he considered the euro to be over-valued a return to an Italian currency would not benefit manufacturers.

"To go back to the Lira would be a catastrophe, totally insane. We have a problem, we have to solve the problem inside Europe," Loro Piana said.

© Thomson Reuters 2022 All rights reserved.