LVMH’s acquisition of Loro Piana—the Italian house known for its super-luxe cashmere and wool wares—earned its final approvals today. And to seal the deal, LVMH appointed Antoine Arnault (son of LVMH CEO Bernard Arnault) as the brand’s chairman, reports WWD. This is just one example of the Arnault children’s increasing responsibility in their father’s company: Antoine is also the CEO of menswear house Berluti, and his sister, Delphine, stepped into the role of executive vice president of Louis Vuitton this summer. Delphine also helped spearhead LVMH’s new young designer prize, which, announced last month, will award the winning talent with 300,000 euros.
