Loro Piana growth in China and Japan, yet cautious about future
Italian luxury apparel and accessories house of Loro Piana, known for its exceptional cashmere garments, has registered a sales increase of over 50% in the past 3 years in China and a 15% growth in Japan since 2011. Howver, the company’s CEO, Pier Lugi Loro Piana remains cautious about the future potential of the market. The winning factor, according to Mr Loro Piana, is to plan more carefully and aim for mid sized stores, instead of grand surfaces. Today, China (including Hong Kong, Taiwan and Macao) accounts for 25% of Loro Piana’s turnover. In mainland China, Loro Piana currently operates 8 mono-brand stores and has expansion plans for second tier cities. In 2011, Loro Piana reported a turnover of 554 million euros.