LVMH weaves deal with cashmere firm Loro Piana Loro Piana, which makes garments from the "golden fleeces" of the near-extinct vicuna, last week bought the rights to 330 square miles of wilderness in Argentina, where 6,000 of the llama-like creatures graze. The family-run enterprise has agreed to sell an 80pc stake to LVMH Group if brothers Sergio and Pier Luigi Loro Piana can continue to run the company, which was founded as a wool and fine textiles trader at the turn of the 19th century. The deal, which is subject to approval by the competition authorities, gives LVMH Group a controlling stake in a luxury retailer whose global sales increased 13pc last year to €630m, despite the economic downturn, with sales of €700m forecast for 2013. Sergio and Pier Luigi Loro Piana said LVMH, run by chairman and CEO Bernard Arnault, was the luxury fashion empire most likely to respect its desire to provide its clientele with "unparalleled quality."