Exclusive to Loro Piana is the world's lightest sheep's wool – the gift of kings. Photo: Loro Piana
Exclusive to Loro Piana is the world's lightest sheep's wool – the gift of kings. Photo: Loro Piana
Exclusive to Loro Piana is the world's lightest sheep's wool – the gift of kings. Photo: Loro Piana
Exclusive to Loro Piana is the world's lightest sheep's wool – the gift of kings. Photo: Loro Piana

Loro Piana embraces the metaverse to enhance its unique take on quiet luxury


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To celebrate the opening of its new boutique in Palo Alto, California, Loro Piana unveiled a number of new initiatives aimed at bridging its distinct brand of discreet luxury with the metaverse. In addition to the sleek new space, perfectly restrained in pale oak and muted caramels, the company unveiled a limited-edition capsule collection, new blockchain technology and an NFT.

Since it was founded in Quarona, Italy in 1924, Loro Piana has dedicated itself to crafting understated clothing from some of the most extraordinary materials in the world. Cashmere, vicuna and merino wool are the bedrock of its creations, which cater to a discerning customer that demands exceptional quality, but low-key, classic styling.

A look at the new Palo Alto boutique. Photo: Loro Piana
A look at the new Palo Alto boutique. Photo: Loro Piana

Such savoir faire may seem like an odd fit for Palo Alto, which, at first glance, is a small, sleepy town, seemingly trapped in the 1950s, with unexpectedly sketchy Wi-Fi. But behind this archaic facade, Palo Alto is home to the headquarters of Apple, Meta, Google, PayPal and Tesla, making it ground zero for all things futuristic.

For the opening of the new boutique, Loro Piana released a limited collection of 20 designs – 10 each for men and women. There were T-shirts, loose-fit trousers and double-faced coats, in subtle hues of buttermilk and crisp, pale blue, made from one of Loro Piana’s most precious materials, named the Gift of Kings.

With its rich, velvety texture, the material feels more akin to brushed silk than wool. It is, however, a type of merino. Its name stems from its history, when merino sheep were the sole property of 16th century Spanish monarchs and were closely guarded for their soft, light wool. The kings would gift a pair of breeding merinos to fellow sovereigns as a token of friendship, while any attempt to steal an animal was punishable by death.

Gift of kings wool is derived from Merino sheep. Photo: Loro Piana
Gift of kings wool is derived from Merino sheep. Photo: Loro Piana

By the late 1700s, Spain began relaxing its monopoly, and the sheep were transported to countries around the world, eventually leading to different variations, such as Gentile di Puglia from Italy and the Rambouillet from France. Arriving in New Zealand and Australia in the final years of the 18th century, the sheep have thrived in the cold and hilly terrains of the countries, and today, the finest merino wool comes from the antipodes.

With its long, soft fibres, merino wool is measured in microns. One micron is equivalent to one millionth of a metre, or 0.001mm. Wool more than 22.6 microns is considered strong and used for upholstery, as well as car and airline seats. Wool of 20.6 to 22.5 microns is classed as medium and used for light suiting and knitwear, while fine wool is 18.6 to 19.5 microns and soft enough to be worn next to the skin.

Superfine wool is 17.6 to 18.5 microns; ultrafine comes in at 16.1 to 17.5 microns. Gift of Kings measures only 12 microns. Human hair, in comparison, is between 60 and 70 microns.

This level of delicacy is not naturally occurring, but the result of three decades of selective breeding orchestrated by Loro Piana. As the fashion industry shifted towards mass appeal, Loro Piana instead doubled down on the needs of its select clientele, gambling that this niche audience would always appreciate the very finest products on the market.

Seeking out the most pioneering merino farmers across Australia and New Zealand, the brand identified 30 farms that shared its vision, and tasked them with creating the softest, lightest fleece imaginable. As the only company in the world with access to Gift of Kings, Loro Piana created the Record Bale scheme, to support these farmers. The company is committed to buying the thinnest bale each year, irrespective of price. To date, the record bale for Gift of Kings stands at only 10.3 microns.

An oversized coat and long fluid trousers for autumn/winter 2023. Photo: Loro Piano
An oversized coat and long fluid trousers for autumn/winter 2023. Photo: Loro Piano

To demonstrate how extraordinary this material is, Loro Piana decorated the new Palo Alto store with great clouds of carded fleece, as flighty as candy floss. Light enough to stir in the air disturbed by someone strolling by, the creamy fibres were too delicate to register on my hand when touched. Human fingertips, it seems, are not sensitive enough to respond to Gift of Kings. Yet, the fibre is surprisingly resilient, and is warm in winter and cool in summer. With correct care, it will last for decades, and customers are already passing pieces down to the next generation.

As a vertically integrated company, Loro Piana has direct control over every aspect of its production, from the farms where the fleece is shorn, to the factory where fibres are woven into butter-soft cashmere blankets or vicuna wraps. Nothing is outsourced to third parties. This gives it a uniquely precise overview, down to what its Peruvian vicuna camelids are enjoying for lunch.

For the opening of the Palo Alto store, unspun gift of kings fleece was used as decoration. Photo: Loro Piana
For the opening of the Palo Alto store, unspun gift of kings fleece was used as decoration. Photo: Loro Piana

Now, the company is opening this business model up to public scrutiny, by recording every step on blockchain. With nothing to hide, but plenty to be proud of, it is throwing open the shutters on its production processes, in the name of transparency, traceability and sustainability. To access this information, customers can simply scan the unique QR code on their Loro Piana product, to unlock every detail, down to the name of the farm where the animal from which the raw materials were sourced lives. Damien Bertrand, Loro Piana’s chief executive, says he even hopes to refine this information down to the name of the individual animal whose fleece was used in a garment “in the not too distant future”.

Often misunderstood, blockchain is a detailed record of information, albeit of a highly sophisticated nature. Divided and stored across the entire computer network rather than being held by any one entity, this vast distribution system creates a unique opportunity for iron clad fact checking, as it is impossible to alter, destroy, delete or hack into blockchain. Information can only be added, not removed. It is this immutability that makes it ideally suited to Loro Piana latest venture, allowing the house to showcase its exemplary approach at every stage of transforming wool into the finished garments it describes as “masterpieces”.

Loro Piana’s blockchain technology is powered by Aura Blockchain Consortium, founded in 2021 by five luxury groups – Mercedes Benz, Prada Group, LVMH, OTB Group and Cartier – to address issues around authenticity and transparency.

Daniela Ott, general secretary of Aura Blockchain, explains why blockchain and luxury are such perfect partners. “The idea of blockchain is to put the consumer at the centre and give them much more access to information. Loro Piana is the first to use a four contract certification and behind any garment, there are 20,000 lines of data stored in the blockchain.

“That data contains the whole story of each product – who made it, where the fibres are from, where the yarn has been spun and when it was transferred to each stage. All this information is now transparent and recorded in the blockchain forever. This is authenticity. To solidify to this immutable chain, Loro Piana will also add the customer to the blockchain, creating a unique ledger of ownership, which can be handed down through families, or used for verification when it comes to resale. Blockchain technology is young and very fast moving, but will soon be a vital component of maintaining trust between the consumer and high-end brands,” Ott says.

“Digital certificates and digital passports are going to be like a receipt, and in a couple of years, every consumer – particularly [of] luxury products – will ask for a digital certificate or a digital passport.”

Gift of kings wool is so fine, Loro Piana had to design new machines to handle it. Photo: Loro Piana
Gift of kings wool is so fine, Loro Piana had to design new machines to handle it. Photo: Loro Piana

Plugging into the metaverse, Loro Piana is also launching NFTs in the form of digital artworks linked to the Gift of Kings collection. British artist Charlotte Taylor was tasked with capturing “the poetic essence of Loro Piana, through the light and softness of the images”, Taylor says.

“For a brand like Loro Piana that is quite routed in tradition to go into the digital medium is something very exciting, especially with a young design studio like myself. For the NFT community, it is hugely inspiring to see someone young working with such a prominent brand, in such an innovative process.”

RESULTS

Bantamweight: Jalal Al Daaja (JOR) beat Hamza Bougamza (MAR)

Catchweight 67kg: Mohamed El Mesbahi (MAR) beat Fouad Mesdari (ALG)

Lightweight: Abdullah Mohammed Ali (UAE) beat Abdelhak Amhidra (MAR)

Catchweight 73kg: Mosatafa Ibrahim Radi (PAL) beat Yazid Chouchane (ALG)

Middleweight: Yousri Belgaroui (TUN) beat Badreddine Diani (MAR)

Catchweight 78KG: Rashed Dawood (UAE) beat Adnan Bushashy (ALG)

Middleweight: Sallah-Eddine Dekhissi (MAR) beat Abdel Enam (EGY)

Catchweight 65kg: Yanis Ghemmouri (ALG) beat Rachid Hazoume (MAR)

Lightweight: Mohammed Yahya (UAE) beat Azouz Anwar (EGY)

Catchweight 79kg: Souhil Tahiri (ALG) beat Omar Hussein (PAL)

Middleweight: Tarek Suleiman (SYR) beat Laid Zerhouni (ALG)

Company%20Profile
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The specs

Engine: 1.5-litre 4-cyl turbo

Power: 194hp at 5,600rpm

Torque: 275Nm from 2,000-4,000rpm

Transmission: 6-speed auto

Price: from Dh155,000

On sale: now

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

COMPANY%20PROFILE
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ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

Bangladesh tour of Pakistan

January 24 – First T20, Lahore

January 25 – Second T20, Lahore

January 27 – Third T20, Lahore

February 7-11 – First Test, Rawalpindi

April 3 – One-off ODI, Karachi

April 5-9 – Second Test, Karachi

GROUPS

Group Gustavo Kuerten
Novak Djokovic (x1)
Alexander Zverev (x3)
Marin Cilic (x5)
John Isner (x8)

Group Lleyton Hewitt
Roger Federer (x2)
Kevin Anderson (x4)
Dominic Thiem (x6)
Kei Nishikori (x7)

What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
John%20Wick%3A%20Chapter%204
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Chad%20Stahelski%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Keanu%20Reeves%2C%20Laurence%20Fishburne%2C%20George%20Georgiou%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A

The Gentlemen

Director: Guy Ritchie

Stars: Colin Farrell, Hugh Grant 

Three out of five stars

WITHIN%20SAND
%3Cp%3EDirector%3A%20Moe%20Alatawi%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Ra%E2%80%99ed%20Alshammari%2C%20Adwa%20Fahd%2C%20Muhand%20Alsaleh%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

 

 

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%203.0-litre%20six-cylinder%20turbo%20(BMW%20B58)%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20340hp%20at%206%2C500rpm%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20500Nm%20from%201%2C600-4%2C500rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20ZF%208-speed%20auto%3Cbr%3E%3Cstrong%3E0-100kph%3A%3C%2Fstrong%3E%204.2sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20267kph%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh462%2C189%3Cbr%3E%3Cstrong%3EWarranty%3A%3C%2Fstrong%3E%2030-month%2F48%2C000k%3C%2Fp%3E%0A
Quick%20facts
%3Cul%3E%0A%3Cli%3EStorstockholms%20Lokaltrafik%20(SL)%20offers%20free%20guided%20tours%20of%20art%20in%20the%20metro%20and%20at%20the%20stations%3C%2Fli%3E%0A%3Cli%3EThe%20tours%20are%20free%20of%20charge%3B%20all%20you%20need%20is%20a%20valid%20SL%20ticket%2C%20for%20which%20a%20single%20journey%20(valid%20for%2075%20minutes)%20costs%2039%20Swedish%20krone%20(%243.75)%3C%2Fli%3E%0A%3Cli%3ETravel%20cards%20for%20unlimited%20journeys%20are%20priced%20at%20165%20Swedish%20krone%20for%2024%20hours%3C%2Fli%3E%0A%3Cli%3EAvoid%20rush%20hour%20%E2%80%93%20between%209.30%20am%20and%204.30%20pm%20%E2%80%93%20to%20explore%20the%20artwork%20at%20leisure%3C%2Fli%3E%0A%3C%2Ful%3E%0A
RESULTS

6.30pm Handicap (TB) $68,000 (Dirt) 1,200m

Winner Canvassed, Par Dobbs (jockey), Doug Watson (trainer)

7.05pm Meydan Cup – Listed Handicap (TB) $88,000 (Turf) 2,810m

Winner Dubai Future, Frankie Dettori, Saeed bin Suroor

7.40pm UAE 2000 Guineas – Group 3 (TB) $125,000 (D) 1,600m

Winner Mouheeb, Ryan Curatolo, Nicholas Bachalard

8.15pm Firebreak Stakes – Group 3 (TB) $130,000 (D) 1,600m

Winner Secret Ambition, Tadhg O’Shea, Satish Seemar

9.50pm Meydan Classic – Conditions (TB) $$50,000 (T) 1,400m

Winner Topper Bill, Richard Mullen, Satish Seemar

9.25pm Dubai Sprint – Listed Handicap (TB) $88,000 (T) 1,200m

Winner Man Of Promise, William Buick, Charlie Appleby

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP5
%3Cp%3E%3Cstrong%3EDisplay%3A%3C%2Fstrong%3E%20Main%20%E2%80%93%206.7%22%20FHD%2B%20Dynamic%20Amoled%202X%2C%202640%20x%201080%2C%2022%3A9%2C%20425ppi%2C%20HDR10%2B%2C%20up%20to%20120Hz%3B%20cover%20%E2%80%93%203%2F4%22%20Super%20Amoled%2C%20720%20x%20748%2C%20306ppi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Qualcomm%20Snapdragon%208%20Gen%202%2C%204nm%2C%20octa-core%3B%20Adreno%20740%20GPU%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%20256%2F512GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20Android%2013%2C%20One%20UI%205.1.1%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Dual%2012MP%20ultra-wide%20(f%2F2.2)%20%2B%2012MP%20wide%20(f%2F1.8)%2C%20OIS%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%204K%4030%2F60fps%2C%20full-HD%4060%2F240fps%2C%20HD%40960fps%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%2010MP%20(f%2F2.2)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%203700mAh%2C%2025W%20fast%20charging%2C%2015W%20wireless%2C%204.5W%20reverse%20wireless%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%205G%3B%20Wi-Fi%2C%20Bluetooth%205.3%2C%20NFC%20(Samsung%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20Nano-SIM%20%2B%20eSIM%3B%20no%20microSD%20slot%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Cream%2C%20graphite%2C%20lavender%2C%20mint%3B%20Samsung.com%20exclusives%20%E2%80%93%20blue%2C%20grey%2C%20green%2C%20yellow%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Flip%204%2C%20USB-C-to-USB-C%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh3%2C899%20%2F%20Dh4%2C349%3C%2Fp%3E%0A
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.8-litre%204-cyl%20turbo%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E190hp%20at%205%2C200rpm%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20320Nm%20from%201%2C800-5%2C000rpm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESeven-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%3C%2Fstrong%3E%206.7L%2F100km%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20From%20Dh111%2C195%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ENow%3C%2Fp%3E%0A
Honeymoonish
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Elie%20El%20Samaan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ENour%20Al%20Ghandour%2C%20Mahmoud%20Boushahri%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
The specs: 2019 Mercedes-Benz C200 Coupe


Price, base: Dh201,153
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Nine-speed automatic
Power: 204hp @ 5,800rpm
Torque: 300Nm @ 1,600rpm
Fuel economy, combined: 6.7L / 100km

RESULTS

Men
1 Marius Kipserem (KEN) 2:04:04
2 Abraham Kiptum (KEN) 2:04:16
3 Dejene Debela Gonfra (ETH) 2:07:06
4 Thomas Rono (KEN) 2:07:12
5 Stanley Biwott (KEN) 2:09:18

Women
1 Ababel Yeshaneh (ETH) 2:20:16
2 Eunice Chumba (BRN) 2:20:54
3 Gelete Burka (ETH) 2:24:07
4 Chaltu Tafa (ETH) 2:25:09
5 Caroline Kilel (KEN) 2:29:14

Who has been sanctioned?

Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.

Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.

Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.

Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.

Updated: June 14, 2023, 4:00 PM