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Article: LORO PIANA SALES RISE 15.2% IN YEAR.(Financial report)
- Article from:
- Daily News Record
- Article date:
- March 26, 2007
- Author:
CopyrightCOPYRIGHT 2007 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Courtney Colavita
Upscale Italian manufacturer projecting growth in Eastern Europe and Russia
MILAN - Loro Piana may not generate a lot of fashion buzz but the venerable Italian textile and luxury goods brand continues to grow.
The Biella-based, family-run company said 2006 sales advanced 15.2 percent to 384 million euros, or $483.8 million. It did not release consolidated profits, which in 2005 reached 9.8 million euros, or $11.7 million. Figures are converted at average exchange rates for the period to which they refer.
"The hardest part was getting here," said Sergio Loro Piana, co-CEO of the company, in an interview with ...