| Metric |
2024 (€M) |
2023 (€M) |
% Change |
| Revenue |
1.609,5 |
1.296,2 |
+24,2% |
| EBITDA |
724,8 |
327,0 |
+121,6% |
| Operating Profit |
478,1 |
226,5 |
+111,1% |
| Net Profit |
389,2 |
191,9 |
+102,8% |
Loro Piana’s financial results in 2024 show a remarkable acceleration across all profitability metrics when compared to 2023. Revenue grew by 24,2%, surpassing the €1,6 billion threshold for the first time. However, the more striking trend lies in margin expansion: EBITDA more than doubled, increasing by 121,6% year-over-year, while operating income and net profit also rose by over 100%. These gains reflect not only scale efficiencies but also strategic pricing, disciplined cost management, and greater reliance on high-margin direct-to-consumer channels.
This performance outpaced many of Loro Piana’s direct competitors in the ultra-luxury segment. While Hermès, for instance, grew its revenue by around 16% in 2024 with a stable EBITDA margin near 40%, Loro Piana’s EBITDA margin jumped sharply from 25,2% in 2023 to an estimated 45,0% in 2024.
Similarly, Brunello Cucinelli - often seen as a peer in cashmere and refined tailoring - delivered EBITDA growth in the range of 30-35%, well below Loro Piana’s more than 120% surge.
In the context of the broader luxury industry, the global personal luxury goods grew by approximately 7-9% in 2024, driven by recovery in Asia and continued spending by high-income consumers. Loro Piana’s 24,2% revenue growth substantially exceeded that market average, underscoring the brand’s successful positioning and loyal client base. Its above-market performance highlights how ultra-luxury players with a focused heritage, sustainable innovation, and limited distribution can outperform even in a moderating macroeconomic environment.
Loro Piana sustained strong revenue growth across all geographies in 2024, with Asia and North America leading the acceleration. Building on the momentum from 2023, the brand deepened its engagement in high-performing markets through targeted retail expansion, refined clienteling, and high-conversion campaigns.
| Region |
2024 Revenue (€M) |
2023 Revenue (€M) |
% Change |
| Italy |
306,98 |
266,26 |
+15,3% |
| Rest of Europe |
463,57 |
424,55 |
+9,2% |
| North America |
192,41 |
132,35 |
+45,4% |
| Asia |
640,86 |
467,83 |
+36,9% |
| Rest of World |
5,62 |
5,20 |
+8,1% |
Asia retained its position as the largest and fastest-growing market, contributing nearly 40% of total sales. The growth was driven by strong traction in Greater China, Japan, and South Korea, alongside new boutique openings and capsule activations in Singapore, Bangkok, and Kuala Lumpur.
North America delivered the highest percentage growth (+45%), fuelled by strategic events such as the Aspen retreat and high-performing flagships in New York and Los Angeles. Europe and Italy maintained steady momentum, benefiting from strong local and tourist luxury demand. The Rest of World segment, while still small, saw consistent expansion through selective market entry and regional events.
Sales by Channel
Loro Piana’s performance continued to be anchored in its direct-to-consumer (DTC) strategy. In both 2023 and 2024, the brand prioritised direct engagement through retail stores and digital channels, which played a central role in revenue generation and brand equity. In 2023, the company enhanced its physical footprint with strategic store openings, particularly in Dubai and Milan, and refined its e-commerce platform to meet growing demand for premium online experiences.
By 2024, this model had matured further. Loro Piana operated a network of 214 monobrand boutiques globally, complemented by a growing digital presence on loropiana.com. Personalised online experiences, exclusive capsule drops, and cross-channel clienteling significantly contributed to traffic and conversion. This approach was especially successful in high-growth markets such as Asia and North America, where the brand saw sharp increases in direct sales volumes and higher average transaction values.
A Year of Strategic Expansion and Creative Innovation
Loro Piana’s 2023 financial report showcases a remarkable performance, underpinned by robust revenue growth and operational efficiency. The Italian label, part of the LVMH Moët Hennessy - Louis Vuitton group, leveraged its heritage and craftsmanship to achieve a strong financial trajectory while maintaining a strategic expansion in key global markets. The momentum continued in 2024, as the maison capitalised on rising demand in Asia and North America, strengthened its retail and digital channels, and doubled down on sustainability-led innovation.
Key Events and Milestones of 2023 and 2024
2023
January 2023 - Loro Piana kicked off the year with its exclusive participation in Pitti Uomo, unveiling its Winter 2023 collection that highlighted new luxury textiles and innovative tailoring techniques.
March 2023 - The brand showcased its refined aesthetic at Paris Fashion Week, revealing a capsule collection celebrating 100 years of heritage craftsmanship.
May 2023 - Loro Piana expanded its retail presence with a new flagship boutique in Dubai, reflecting its commitment to Middle Eastern markets.
July 2023 - At the Venice Biennale, Loro Piana presented an installation celebrating its historic textile innovation, featuring its signature cashmere and vicuña fabrics.
September 2023 - The brand hosted an exclusive event in Milan to debut its Fall/Winter 2023 collection, blending modern minimalism with traditional Italian tailoring.
November 2023 - Loro Piana collaborated with an esteemed artist for a limited-edition textile collection, reinforcing its fusion of art and fashion.
December 2023 - Closing the year, the maison launched a sustainability-focused campaign, showcasing its eco-conscious production processes and ethically sourced materials.
2024
January 2024 - Opened the year with a continued focus on retail expansion and global rollout of its sustainability-driven product lines.
February 2024 - Announced new textile innovation partnerships aimed at integrating biodegradable fibres and eco-friendly dyeing into upcoming collections.
4-5 June 2024 - Debuted the Fall/Winter 2024-25 collection at Soho House Hong Kong, blending heritage with creative imagery by Mario Sorrenti.
20 June 2024 - Hosted a luxury retreat in Aspen to preview the Into the Wild capsule collection, combining technical outerwear with a curated alpine lifestyle.
29 August 2024 - Released Into the Wild globally, integrating innovations such as graphene membranes and Rain System® finishes in collaboration with Roa.
7 November 2024 - 2 January 2025 - Took over Harrods London for its centenary celebration, featuring immersive storytelling windows, archival displays, and exclusive product offerings.
December 2024 - Closed the year with record-breaking holiday performance in Asia and North America, underscoring the strength of its DTC model.
March 2025 - Announced Frédéric Arnault as CEO, marking a new chapter in leadership and signalling further integration into LVMH’s strategic vision.
These key events reflect Loro Piana’s unwavering dedication to craftsmanship, innovation, and market expansion.
Operational and Strategic Developments
Loro Piana’s success in 2023 was also driven by key operational initiatives:
Sustainable Sourcing & Innovation: In June 2023, the brand launched its ‘Excellence in Nature’ campaign, showcasing ethically sourced vicuña and biodegradable fabric blends. The company further expanded its sustainability efforts by introducing a traceability program for raw materials.
Retail Expansion: In August 2023, Loro Piana unveiled its new flagship store in Shanghai, marking a significant step in the brand’s Asian expansion strategy. Additionally, boutiques in Milan and New York underwent major renovations to elevate the luxury shopping experience.
Consumer Experience: In October 2023, Loro Piana introduced a digital concierge service, allowing customers to book private shopping sessions and virtual consultations. This initiative was complemented by the integration of AI-driven recommendations on the brand’s e-commerce platform, enhancing personalisation and customer engagement.
2024 Developments
Loro Piana’s 2024 operational achievements reflect a well-coordinated expansion across sustainability, innovation, retail, and digital transformation:
Sustainable Sourcing & Textile Innovation: In January and February 2024, the brand rolled out new product lines featuring biodegradable fibres and waterless dyeing processes. These efforts marked a deepened commitment to material science and environmental responsibility.
Product Innovation: On 29 August 2024, Loro Piana globally launched the Into the Wild capsule collection. The line incorporated graphene membranes and Rain System® finishes - technical elements designed to blend outdoor performance with high-end craftsmanship. The preview took place at an Aspen retreat in June 2024.
Retail Expansion & Immersive Storytelling: The brand strengthened its physical retail with new boutiques and pop-ups, while its centenary takeover of Harrods (7 November 2024 - 2 January 2025) featured immersive installations and archival curation.
Digital & Customer Experience: Throughout the year, Loro Piana enhanced its e-commerce ecosystem with AI-driven personalisation, streamlined logistics, and elevated omnichannel features.
Outlook and Future Strategy
Loro Piana's trajectory over 2023 and 2024 sets a strong foundation for continued leadership in ultra-luxury. Looking ahead, the brand is expected to intensify its focus on three strategic pillars: global retail expansion, sustainable product development, and digital transformation.
Following the success of experiential campaigns like the Harrods centenary and the Into the Wild capsule, Loro Piana is well-positioned to scale exclusive, narrative-driven collections and deepen engagement through high-touch retail experiences. New boutique openings in Asia and the Middle East remain a key priority.
On the sustainability front, the maison is expected to accelerate innovation in biodegradable and traceable materials, with long-term ambitions to lead in circular luxury. Its early adoption of eco-dyeing and raw material traceability in 2023-2024 signals a roadmap for greater environmental accountability.
Digitally, the focus will remain on strengthening e-commerce personalisation, mobile-first UX, and logistics integration to optimise omnichannel fulfilment.
With Frédéric Arnault’s appointment as CEO in 2025, further alignment with LVMH’s digital and Gen Z-focused luxury playbook is likely. Under his leadership, 2025 is expected to mark a pivotal year for scaling immersive retail concepts and phygital engagement formats, particularly in key Asian and North American cities. The brand is also set to launch its first fully circular cashmere capsule, supported by a global awareness campaign focused on longevity and repairability.
Additionally, Loro Piana is planning to introduce AI-powered supply chain forecasting tools to enhance inventory precision and reduce waste across its boutiques and e-commerce channels. The brand’s outlook suggests measured growth, margin stability, and creative resilience in a competitive and shifting global market.
Cover Image Courtesy: Impression
Read the full Loro Piana report Here.
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