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Boost for Lanvin

2021-10-11T01:18:47.553Z

The parent company of the luxury brand, the Chinese Fosun Fashion Group, raises 300 million dollars, and renames itself Lanvin Group.



A name change for a new course.

This Monday, Fosun Fashion Group - the fashion and luxury division of Chinese giant Fosun International known in France for owning Club Med - takes the name of Lanvin Group.

One way to mark its ambition in luxury, by highlighting the name of the prestigious French brand founded in 1889 in Paris that it bought in 2018.

To give itself the means, Fosun Fashion has raised 300 million dollars, which brings its valuation to more than 1 billion.

The Japanese trading group Itochu Corporation, the Hong Kong-listed luxury footwear manufacturer Stella International and the Chinese private equity fund Zizhi Capital took ownership on this occasion.

The brand new Lanvin Group is counting on these new shareholders to develop in Japan and in footwear, and in particular sneakers.

But not only.

Acquisition of other brands

"

We have strong growth objectives, which will involve organic growth and acquisitions"

, explains

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Source: lefigaro

All business articles on 2021-10-11

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