Fosun International Limited (SEHK stock code: 00656) ("Fosun International") and its subsidiaries (together "Fosun") announced the acquisition of a controlling stake in Jeanne Lanvin SAS (d/b/a “Lanvin”), the oldest luxury couture house in France still in existence.
The luxury fashion house, Lanvin, was founded by Jeanne Lanvin in 1889. In 2001, Taiwan-based businesswoman Shaw-Lan Wang saw the potential of the brand in Asia and acquired a majority stake. Currently, Lanvin operates in more than 50 countries with womenswear, menswear, kidswear and accessories including footwear and leather goods. Lanvin has long been synonymous with Parisian elegance and it has always been quoted as one of the most prestigious fashion house in the world.
“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”, says Mr. Nicolas Druz, Lanvin’s current CEO.
“As a French brand with almost 130 years of history, partnering with Fosun, one of the youngest and dynamic group at the moment, is absolutely exciting and can open up great potential”, adds Mr. Simone Mantura, current Deputy General Manager.
Mr. Guo Guangchang, Chairman of Fosun International says: “Not all brands can go through more than a century’s time and still shine and be admired like Lanvin. We feel honored 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. 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", said Joann Cheng, Vice CFO of Fosun International and Executive President of Fosun Fashion Group.
Fosun has been actively investing in the global fashion and consumer industry with the rapidly increasing global consumption upgrade of China. Fosun recently commissioned the Fosun Fashion Group to capitalize on this trend and to manage Fosun’s growing portfolio of assets in the fashion sector. The Fosun Fashion Group has a mandate to invest globally in the fashion and retail industry, and strategically deepen its root in this sector.