FRANCE. Chinese investment group Fosun International has acquired the controlling stake in Lanvin, France’s oldest surviving luxury fashion house. Taiwan-based businesswoman Shaw-Lan Wang has had a majority stake in the fashion house since 2001. The business was founded by Jeanne Lanvin in 1889. Fosun did not reveal financial details of the transaction.
Fosun has been actively investing in the global fashion and consumer industry. The Hong Kong Stock Exchange-listed company recently commissioned its Fosun Fashion Group to manage its growing portfolio of assets in the fast-growing fashion sector.
The Fosun Fashion Group has a mandate to invest globally in the fashion and retail industry, and deepen its roots in this sector.
“Lanvin is adding a luxury asset to Fosun’s Fashion Group. As China becomes the main growth driver of the global luxury market, we are confident that Fosun can bring great incremental value to Lanvin with our global resources and expertise.” – Fosun International Vice CFO and Fosun Fashion Group Executive President Joann Cheng
“Fosun’s understanding of the brand and strong track record in the European and global market, including their successful partnership and transformational strategies with Club Med, Tom Tailor and many others, make us believe that Fosun is the right long-term strategic partner to team up with,” said Lanvin CEO Nicolas Druz.
“As a French brand with almost 130 years of history, partnering with Fosun, one of the youngest and dynamic groups at the moment, is absolutely exciting and can open up great potential,” added Lanvin Deputy General Manager Simone Mantura.
Fosun International Chairman Guo Guangchang commented: “Not all brands can go through more than a century’s time and still shine and be admired like Lanvin. We feel honoured to become its new partner and believe this globally renowned brand and its rich history has tremendous growth potential.”
“Lanvin is adding a luxury asset to Fosun’s Fashion Group,” said Fosun International Vice CFO and Fosun Fashion Group Executive President Joann Cheng.
“As China becomes the main growth driver of the global luxury market, we are confident that Fosun can bring great incremental value to Lanvin with our global resources and expertise, while being absolutely committed to Lanvin’s high luxury positioning and its exceptional quality of products manufactured in France and Italy.”
Currently, Lanvin operates in more than 50 countries with womenswear, menswear, kidswear and accessories including footwear and leather goods.
