Originally from Trivero (a district in north Italy famous for textile production), the Loro Piana family started as merchants of wool fabrics at the beginning of the 19th century. In the second half of the 19th century, the family moved its activity to Valsesia and founded the Lanificio Fratelli Lora e Compagnia, followed by Lanificio di Quarona di Zignone & C. at the beginning of the 20th century. Franco Loro Piana, Pier Luigi’s father, started exporting fine fabrics in the 1940s and Pier Luigi and his older brother, Sergio, joined in the 1970s.

On 8 July 2013, LVMH purchased 80% of Loro Piana for €2 billion, the rest of shareholding remaining in Loro Piana family’s hands. Put and call options on the family’s 20% stake expired in 2016.

On 19 December 2013, Sergio Loro Piana died.

In 2017 the Loro Piana family reduced their 20% ownership holdings to 15%. Specifically, Pier Luigi Loro Piana cut his holdings down to 5 percent, While the family of Sergio Loro Piana still own their original 10 percent.