LVMH's Loro Piana put under court administration in Italy over labour exploitation
This is the second time one of the luxury group's businesses has been taken to court over labour issues.
MILAN - An Italian court on July 14 placed under judicial administration LVMH's high-end Italian cashmere firm Loro Piana for indirectly subcontracting its production to Chinese-owned firms accused of exploiting workers, the latest brand to be embroiled in investigations into labour malpractice inside the Italian luxury supply chain.
The court in Milan ordered a one-year administration for Loro Piana Spa, according to a 26-page ruling reviewed by Reuters, in the latest in a string of cases that have tainted the image of Italy's luxury brands.
The administration will be lifted earlier if the company brings its practices into line with legal requirements.
The court said Loro Piana Spa 'culpably failed' to adequately oversee its suppliers in order to pursue higher profits.
Loro Piana could not immediately be reached for comment.
LVMH, the world's biggest luxury group, acquired 80 per cent of Loro Piana in July 2013, leaving 20 per cent in the hands of the Italian family that founded the company.
Loro Piana is the fifth fashion company to be targeted by the same Milan court over similar labour issues since December 2023, following Italian fashion group Valentino,
an Italian unit of LVMH's Dior , Italy's Armani, and Alviero Martini, an Italian handbag company.
Top stories
Swipe. Select. Stay informed.
Singapore Singapore to train more aviation and maritime officials from around the world
Singapore Special edition SG60 Nets card now on sale for $10
Singapore 18 years' jail for woman who hacked adoptive father to death after tussle over Sengkang flat
Business Singapore's economy sees surprise expansion in Q2 despite US tariff uncertainty: Advance estimate
Singapore Jail, caning for man who had 285 child porn videos, including those showing infants
Singapore Jail for woman who opened bank accounts that received over $640.7m, including scam proceeds
Singapore Driver assisting with police probe after e-bike rider injured in hit-and-run in Hougang
Sport After Olympic heartbreak, Singaporean swimmer Chantal Liew turns pain into inspiration
The Milan court lifted the judicial administration it placed on Dior, Armani and Alviero Martini before the end of the one-year deadline imposed on them. The order against Valentino, on the other hand, is much more recent, dating back to May. REUTERS
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
an hour ago
- Straits Times
US, China to resume tariff talks in effort to extend truce by 90 days
Find out what's new on ST website and app. US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng will lead tariff talks on July 28, in Stockholm. STOCKHOLM – Senior US and Chinese negotiators will meet in Stockholm on July 28 to tackle longstanding economic disputes at the centre of the countries' trade war, aiming to extend a truce keeping sharply higher tariffs at bay. The South China Morning Post reported on July 27 that the two sides are expected to agree to extend the truce by three more months. China is facing an Aug 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached a preliminary deal in June to end weeks of escalating tit-for-tat tariffs. Without an agreement, global supply chains could face renewed turmoil from duties exceeding 100 per cent. The Stockholm talks, led by US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng, take place a day after European Union chief Ursula von der Leyen meets Mr Trump at his golf course in Scotland to try to clinch a deal that would likely see a 15 per cent baseline tariff on most EU goods. Trade analysts on both sides of the Pacific say the discussions in the Swedish capital are unlikely to produce any breakthroughs but could prevent further escalation and help create conditions for Mr Trump and Chinese President Xi Jinping to meet later in 2025. Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia H20 AI chips and other goods halted by the United States. Top stories Swipe. Select. Stay informed. Singapore Sewage shaft failure linked to sinkhole; PUB calling safety time-out on similar works islandwide Singapore Tanjong Katong Road sinkhole did not happen overnight: Experts Singapore Workers used nylon rope to rescue driver of car that fell into Tanjong Katong Road sinkhole Asia Singapore-only car washes will get business licences revoked, says Johor govt World Food airdropped into Gaza as Israel opens aid routes Sport Arsenal beat Newcastle in five-goal thriller to bring Singapore Festival of Football to a close Singapore Benchmark barrier: Six of her homeschooled kids had to retake the PSLE Asia S'porean trainee doctor in Melbourne arrested for allegedly filming colleagues in toilets since 2021 So far, the talks have not delved into broader economic issues. These include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that US national security export controls on tech goods seek to stunt Chinese growth. 'Stockholm will be the first meaningful round of US-China trade talks,' said Mr Bo Zhengyuan, Shanghai-based partner at China consultancy firm Plenum. Deals, deals, deals Mr Trump has been successful in pressuring some other trading partners, including Japan, Vietnam and the Philippines , into deals accepting higher US tariffs of 15 to 20 per cent. He said there was a 50-50 chance that the US and the 27-member European Union could also reach a framework trade pact, adding that Brussels wanted to 'make a deal very badly'. Two of Mr Trump's top trade officials, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, will attend the Scotland talks and then travel to Stockholm. Analysts say the US-China negotiations are far more complex and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on US industries. Trump-Xi meeting? In the background of the talks is speculation about a possible meeting between Mr Trump and Mr Xi in late October. Mr Trump has said he will decide soon whether to visit China in a landmark trip to address trade and security tensions. A new flare-up of tariffs and export controls would likely derail any plans for a meeting with Mr Xi. 'The Stockholm meeting is an opportunity to start laying the groundwork for a Trump visit to China,' said Ms Wendy Cutler, vice-president at the Asia Society Policy Institute. Mr Bessent has already said he wants to work out an extension of the Aug 12 deadline to prevent tariffs snapping back to 145 per cent on the US side and 125 per cent on the Chinese side. Still, China will likely request a reduction of multi-layered US tariffs totaling 55 per cent on most goods and further easing of US high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the US trade deficit with China, which reached US$295.5 billion (S$379 billion) in 2024. China is currently facing a 20 per cent tariff related to the US fentanyl crisis, a 10 per cent reciprocal tariff, and 25 per cent duties on most industrial goods imposed during Mr Trump's first term. Mr Bessent has also said he would discuss with Mr He the need for China to rebalance its economy away from exports toward domestic consumer demand. The shift would require China to put an end to a protracted property crisis and boost social safety nets to encourage household spending. Mr Michael Froman, a former US trade representative during former president Barack Obama's administration, said such a shift has been a goal of US policymakers for two decades. 'Can we effectively use tariffs to get China to fundamentally change their economic strategy? That remains to be seen,' said Mr Froman, now president of the Council on Foreign Relations think-tank. REUTERS
AsiaOne
4 hours ago
- AsiaOne
BMW i7 'Singapore Icons' is a unique SG60 automotive tribute to the Lion City, Lifestyle News
BMW Asia and Eurokars Auto commemorate Singapore's 60th birthday with an electric limousine that is one of a kind. The BMW i7 'Singapore Icons SG60 1 of 1' also marks the 40th year of BMW Asia and the 133rd anniversary of Kwong Cheong Thye Pte Ltd, whose boss Choo Wai Luen bought the one-off vehicle to celebrate the success of his homegrown soya-sauce company, which was founded in 1892. The price for this SG60 commemorative car was $753,888 with COE valid till SG70. Lars Nielsen, managing director of BMW Group Asia, said at the unveiling of the special limousine: "This luxurious piece of art celebrates the icons that define Singapore and embodies pride and passion for a country that has accomplished so much in its short but successful history." The electric sedan's celebratory Singaporean elements start with the Madeira Red paintwork, a BMW Individual colour from the Rolls-Royce Motor Cars palette. The i7 special edition also sports the "Singapore Icons" logo laser-etched onto each C-pillar Hofmeister kink. Inside the Smoke White Merino leather cabin fit for presidents national or corporate are custom-stitched headrests in Alaska Grey with "Singapore Icons" embroidery. Proudly providing the "Majulah Singapura" moment is the dashboard panel's meaningful metallic inlay. The motif features seven distinctive local landmarks (because 7 Series) that identify the mighty little red dot — Changi Airport (control tower), Gardens by the Bay (Supertree Grove), Singapore Flyer, Marina Bay Sands, Anderson Bridge, Merlion Park, and ArtScience Museum. Choo, the Singaporean driving the BMW i7 'Singapore Icons', said: "Every time I look at this masterpiece, I'm reminded of how far we have come as a nation and how far my family and I have come in building our business. It represents something special to us, to BMW, and our country." [[nid:719224]] This article was first published in Motorist .
Business Times
7 hours ago
- Business Times
Humanoid robots embodiment of China's AI ambitions
[SHANGHAI] Serving craft beer, playing mahjong, stacking shelves and boxing, the dozens of humanoid robots at Shanghai's World AI Conference (WAIC) this weekend were embodiments of China's growing AI prowess and ambition. The annual event is primed at showcasing China's progress in the ever-evolving field of artificial intelligence, with the government aiming to position the country as a world leader on both technology and regulation as it snaps at the US' heels. Opening the event on Saturday, Premier Li Qiang announced China would set up a new organisation for cooperation on AI governance, warning the benefits of development must be balanced with the risks. But in the cavernous expo next door, the mood was more giddy than concerned. 'Demand is currently very strong, whether in terms of data, scenarios, model training, or artificial construction. The overall atmosphere in all these areas is very lively,' said Yang Yifan, R&D director at Transwarp, a Shanghai-based AI platform provider. This year's WAIC is the first since a breakthrough moment for Chinese AI this January when startup DeepSeek unveiled an AI model that performed as well as top US systems for an apparent fraction of the cost. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Organisers said the forum involved more than 800 companies, showcasing over 3,000 products – the undeniable crowd pleasers being the humanoid robots and their raft of slightly surreal party tricks. At one booth, a robot played drums, half a beat out of time, to Queen's 'We Will Rock You' while a man in safety goggles and a security vest hyped up a giggling crowd. Other droids, some dressed in working overalls or baseball caps, manned assembly lines, played curling with human opponents or sloppily served soft drinks from a dispenser. While most of the machines on display were still a little jerky, the increasing sophistication year-on-year was clear to see. The Chinese government has poured support into robotics, an area in which some experts think China might already have the upper hand over the US. At Hangzhou-based Unitree's stall, its G1 android – around 130 centimetres (four feet) tall, with a two-hour battery life – kicked, pivoted and punched, keeping its balance with relative fluidity as it shadowboxed around a ring. Ahead of the conference's opening, Unitree announced it would launch a full-size humanoid, the R1, for under US$6,000. 'Digital humans' Most high-tech helpers don't need hardware though. At the expo, AI companions – in the form of middle-aged businessmen, scantily clad women and ancient warriors – waved at people from screens, asking how their day was, while other stalls ran demos allowing visitors to create their own digital avatars. Tech giant Baidu on Saturday announced a new generation of technology for its 'digital humans' – AI agents modelled on real people, which it says are 'capable of thinking, making decisions, and collaborating'. The company recently ran a six-hour e-commerce broadcast hosted by the 'digital human' of a well-known streamer and another avatar. The two agents beat the human streamer's debut sales in some categories, Baidu said. Over ten thousand businesses are using the technology already, the department's head Wu Chenxia told AFP. Asked about the impact on jobs – one of the major concerns raised around widespread AI adoption – Wu insisted that AI was a tool that should be used to improve quality and save time and effort, which still required human input. For now, few visitors to the WAIC expo seemed worried about the potential ramifications of the back-flipping dog robots they were excitedly watching. 'When it comes to China's AI development, we have a comparatively good foundation of data and also a wealth of application scenarios,' said Transwarp's Yang. 'There are many more opportunities for experimentation.' AFP
