LVMH’s Loro Piana placed under judicial administration, FT reports

A Milan court has placed LVMH’s (LVMUY) Loro Piana under judicial administration for subcontracting production to suppliers that allegedly exploited workers, Silvia Sciorilli Borrelli of The Financial Times reports. The court said Loro Piana handed the production of its apparel to Evergreen Fashion Group, which is owned by a Chinese company. “The production of such apparel had been carried out in a context of labour exploitation,” a ruling seen by the Financial Times said.