Originally a wool merchant, Loro Piana began as a textile mill, exporting high-end fabrics to Europe, Japan, and the Americas. Renowned for its extra-fine wool, cashmere, and vicuña, the company did not enter the ready-to-wear and luxury goods market until the 1980s. It is fair to say it hasn’t looked back since.

LVMH appointed one of billionaire founder Bernard Arnault’s sons to lead its Italian cashmere brand Loro Piana, as part of a fresh leadership shuffle likely to put renewed attention on succession planning.

The fashion role is expected to bolster Frédéric Arnault’s credentials as a candidate to one day lead the luxury-goods giant.