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Cashmere Giant Sergio Loro Piana Has Died at 65

Sergio Loro Piana, left, and his brother Pier Luigi; Photo <a href="http://money.cnn.com/galleries/2008/fortune/0808/gallery.style_council.fortune/">via</a>
Sergio Loro Piana, left, and his brother Pier Luigi; Photo via

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Famed cashmere and fine wool manufacturer Sergio Loro Piana has died, according to WWD. The company's VP and board member was in his late 60s and had allegedly been ill for some time.

Along with his brother, Pier Luigi, Loro Piana expanded the family brand into the luxury behemoth it is today. The company sold an 80 percent stake to LVMH Moët Hennessy Louis Vuitton this past summer, where it was described as "the largest cashmere manufacturer and the biggest single purchaser of the world's finest wools." The brothers had rotated chief executive and chairman positions on a three-year basis when they had sole ownership, and assumed their current titles on December 5.

Sergio Loro Piana is survived by his wife Maria Luisa and their three children, and funeral details have not yet been made public.
·Sergio Loro Piana Dead at 65 [WWD]
· Affordable Fashion Showdown: How Does Everlane's New $120 Cashmere Crewneck Compare? [Racked]