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THERE HAVE BEEN a lot of family businesses in fashion, and for good reason. Providing a clan is functional, the attendant mutual support can build, reinforce and protect a singular vision. Missoni, Versace and Hermès are a few examples. The Milan-based Etro, run by 78-year-old patriarch Gerolamo Etro, known as Gimmo, and his four children, is another. Known for a cheeky take on traditional luxury and wild, mismatched fabrics—especially its over-the-top paisleys—the family-owned-and-operated Etro has thrived in mainstream categories like menswear and womenswear, accessories and perfume by bucking the conventional…