The Company That Produced Putin's $14,000 Jacket: It's shameful. We send donations to Ukraine

Russian President Vladimir Putin wore a $14,000 jacket produced by Italian company Loro Piana on stage at the Lukhniki stadium in Moscow. The company's owner says he was "ashamed" to see this and is helping the Ukrainian people with donations, La Repubblica reports.

"It's somewhat shameful from a human point of view", said Pier Luigi Loro Piana.

The Loro Piana company is a family business, but in 2013, the French fashion giant LVMH bought 80 percent of the firm.

The Loro Piana jacket worn by Putin, over a white turtleneck sweater concealing a bulletproof vest, sells in Russia for 1,445,000 rubles, equivalent at Friday's exchange rate to about 12,800 euros (approximately 14.150 dollars).

LVMH Is Against Putin's War in Ukraine

"The group to which Loro Piana belongs has already taken all the necessary steps to distance itself and stand in solidarity with European positions on the human tragedy we are experiencing," the entrepreneur said.

Since the beginning of March, the LVMH group, like other European luxury brands, has stopped deliveries to Russia and closed its stores indefinitely.

"I think the coat worn by Putin was bought a long time ago, but I think these are minor problems compared to the tragedy of this war. As a company, we sustain the positions of the LVMH group. It is clear which side we have chosen to be on. I don't feel guilty about that jacket worn on stage, but I think Putin should reflect on the massacre he is committing against the Ukrainian people," Loro Piana said.

The company helps the people of Ukraine by donating to aid organizations. It has also sent blankets and textiles to Ukraine for those who lost everything in the bombings.

"Supporting the population at this time is the most important thing. Ukrainians will have all our moral and practical support," Loro Piana added.

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