Visit our new website:

Fosun Woos Lanvin With 100 Million Euro Valentine Deal

  • Thu, 15 Feb 2018 00:36

Lanvin, France’s most enduring high fashion brand, will soon be acquired by a new Chinese owner, according to reputable agencies. Citing sources familiar with the matter, Reuters reported on February 13 that Chinese conglomerate Fosun International has outbid rivals for control of the brand, and is set to announce the deal this week.

Founded in 1889 by legendary haute couture designer Jeanne Lanvin, Lanvin was made famous by a list of celebrity fans such as diverse as Meryl Streep and Beyoncé. It was among the most profitable fashion houses in the early 2000s under the creative direction of Alber Elbaz, who left the brand in October 2015 owing to disagreements with its largest shareholder, Taiwan-based media mogul Shaw-Lan Wang.

Elbaz’s departure hurt Lanvin’s designs and sent sales into free fall, and the brand has been on the verge of bankruptcy since 2017. Shaw-Lan Wang reportedly planned to inject cash into the brand late last year, but the money has not materialized.

The strength of the Lanvin brand has nevertheless remained appealing to many companies. Mayhoola, the investment fund backed by the Qatari Royal Family that has acquired Valentino, Balmain, Anya Hindmarch and more, was also said to be interested in snagging Lanvin.

Fosun reportedly plans to inject more than €100 million ($ 124 million) into Lanvin, reducing Shaw-Lan Wang’s stake from 75 percent down to 25 percent.

Fosun and Lanvin could not immediately be reached for comment about the rumors.

Recommended ReadingChina’s Biggest Luxury Brand Acquisitions of 2017By Ruonan Zheng

What Comes Next?

Adding Lanvin to its portfolio further cements Fosun’s ambitions in the luxury fashion industry. The Chinese conglomerate has been on a shopping spree for high-end luxury and hospitality brands in recent years, buying up Club Méditerranée SA, Folli Follie, St. John, and more.

Industry professionals are uncertain if the acquisition will help restore Lanvin to its former profitability.

“Fosun is moving up the ladder, but [for brands] they are not like LVHM with management and marketing expertise,” said Louis Houdart, founder of the marketing and branding agency Creative Capital. “I am not sure if they can turn around Lanvin successfully if they don’t have the right team in place.”

Houdart pointed out that if Lanvin’s current issue is more than just a shortage of cash, Fosun will need to supply leadership and management to truly revamp it. However, Fosun’s approach to Club Méditerranée SA and Folli Follie don’t demonstrate much strength in this regard.

The post Fosun Woos Lanvin With 100 Million Euro Valentine Deal appeared first on Jing Daily.

Jing Daily



Related Stories

WeChat Uses Mini-Programs to Enter Live-Streaming Shopping Arena
  • Mon, 21 May 2018 09:34

China’s livestreaming industry has grown exponentially over the past few years, as online users fall in love with the social interaction and ent...

Box Office: 'Deadpool 2' propels to $125 million opening
  • Mon, 21 May 2018 05:10

LOS ANGELES ( - Deadpool might not consider himself a superhero, but its latest installment is off to a powerful start. Reuters: Ente...

Donald Trump’s plan to ease off ZTE sanctions could cost families of terrorism victims US$150 million
  • Mon, 21 May 2018 04:27

Families of terrorism victims are warning the Trump administration may negotiate away US$ 150 million that a Chinese firm was expected to pay for vio...

Chinese Whispers: WeChat Bans Viral Douyin Video, And More
  • Mon, 21 May 2018 03:34

In “Chinese Whispers”, we share the biggest news stories about the luxury industry in China that haven’t yet made it into the English language. ...

Daily Deal - Ylands, 33% Off
  • Mon, 21 May 2018 02:54

Today's Deal: Save 33% on Ylands!*Look for the deals each day on the front page of Steam. Or follow us on twitter or Facebook for instant notificatio...

Community Parties in the Pines at Jena Choctaw Pines Casino
  • Sun, 20 May 2018 21:32

… Jena Choctaw Pine's Casino was the place to be … Pines'. It was the casino's fifth year to … Casinos...

Rangers on Verge of a Coaching Deal With Boston University’s David Quinn
  • Sun, 20 May 2018 15:36

Quinn, 51, would come to the Rangers after five years as the head coach at B.U., where his teams made the N.C.A.A. tournament four times and lost in t...

Bolinas home listed for $3.885 million comes with a 100-year-old barn
  • Sun, 20 May 2018 15:20

A 1.7-acre estate tucked away in the sleepy beach town of Bolinas at 201 Mesa Rd. and listed for $ 3.885 million offers two unique properties: a 100-...

Nigeria defender Ebuehi joins Benfica on five-year deal
  • Sun, 20 May 2018 14:24

Portuguese giants Benfica complete the signing of Nigeria international defender Tyronne Ebuehi from Dutch club ADO Den Haag. BBC News - Africa

After matching 140 million Chinese singles, Zhenai’s founder sets sights on marrying AI to blockchain
  • Sun, 20 May 2018 12:15

Li Song has the qualities of a textbook serial entrepreneur: he loves talking about ideas, is capable of putting them into action, knows how to pivot ...

News Categories