ML - Michigan Avenue

2014 - Issue 8 - December/January

Michigan Avenue - Niche Media - Michigan Avenue magazine is a luxury lifestyle magazine centered around Chicago’s finest people, events, fashion, health & beauty, fine dining & more!

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photography by brUNa rotUNNIo/CoUrtESy oF Loro pIaNa (FLowEr harvESt); aNdy barNham (FaCtory) continued on page 52 50  michiganavemag.com We've just set sail off the British Virgin Islands with the official race crew during the 2014 Loro Piana Caribbean Superyacht Regatta & Rendezvous. Pier Luigi Loro Piana, vice chairman of the Italian textile and luxury goods brand, and Matthieu Brisset, the company's new CEO from LVMH, huddle near the massive helm, strategizing with top sailors from around the globe. Dressed as one of the crew, Piana, 63, says, "Jazz and sailing are my passions—besides wool and cashmere." Discussing his decision to sell a majority of his family business to LVMH—the European luxury conglomerate acquired an 80 percent stake in Loro Piana in July 2013 for 2 billion euros (about $2.6 billion)— Piana, who remains hands-on, is quick to smile. He feels his company is tacking in the right direction. And although he may sail the largest yachts in the ocean, he can also be found in a dinghy scouring the far reaches of the earth for the kinds of exquisite textiles his customers associate with his brand. His latest gem, the fiber of the lotus f lower, is a front- runner in the company's evolving commitment to sustainable luxury—a buzzword among top-tier brands vying for the atten- tion of a discerning clientele, one that increasingly prioritizes a social conscience. A recent st udy publ ished by t he World Jewel ler y Con federat ion revea ls t hat luxury brands may lose busi- ness if t hey fa il to emphasize cor porate a nd socia l responsibilit y (CSR). Jonathan Kendall, the confederation's president of marketing and education, notes, "Corporate responsibilit y will be directly linked to a luxur y compa ny's prof it abilit y in t he future." The 2013 Cone Communicat ions/ Echo Globa l Study on CSR found that nine out of 10 global consumers want com- panies to exceed the minimal standards required by law for operating responsibly. "We are looking for qualit y—that st rateg y will never change," Pier Luig i explains, "but with the mentality to respect the environment in how we produce and manufacture. This is very important—to do less damage to this world." THE CALL OF CR AFTSMANSHIP Established in 1924 by Pietro Loro Piana—yet with origins dating back to 1812 with the vision of Pier Luigi's great- grandfather, Giacomo Loro Piana—the company was the first to brand and label a textile, during the late 1800s. "We were known for making good, thick woolen coats—and high-quality fabric, particularly for men," says Pier Luigi. "After World War II, [my father] made a strategic change, with products for both men and women." Pier Luigi and his brother, Siergo, took over in the 1970s and began exporting fabrics—with the mantra of continuing a multigen- erational commitment to high-quality craftsmanship—and today the Italian house is the world's largest cashmere manufacturer and the biggest single pur- chaser of the globe's finest wools, with 150 retail outlets, 16 of them in the United States, including Chicago. Luxe et Veritas as high-end fashion houses target a luxury sector increasingly concerned with sustainability, Loro Piana is decidedly —and beautifully—on course. by erin Lentz Unlike brands that outsource steps in production, Loro Piana's "sheep-to- shop" process allows for tight quality control. At its group headquarters in Corso Rolandi, Italy, one will find artists with tweezers working over swaths of cash- mere, while huge, high-tech machines support a large-scale modern operation, as the six-generation Italian brand remains rooted in its dedication to high-qual- ity craftsmanship. "In the '80s we invested in a lot of new technology," Pier Luigi says, "but the machinery can do nothing without people who can manage it, and sometimes perfection is still guaranteed by the fine mending made by hand." from top: The stalk of the lotus flower produces a strong and lightweight fiber that is harvested and extracted by hand; the Lotus Flower jacket; workers at Loro Piana's Sillavengo factory, in Piedmont, Italy, testing fabric elasticity. Style Fashion Conscience

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