FOSUN FASHION GROUP REBRANDS TO LANVIN GROUP
Fosun Fashion Group is rebranding to Lanvin Group.
The rebranding to Lanvin Group aims to exemplify the group’s vision to build a global portfolio of iconic luxury fashion brands as it embarks on a new phase of growth both globally and in China. The new Lanvin Group branding and a new website will be unveiled in the coming months.
Behind the decision to rename the group Lanvin Group lies a strong belief that the spirit and ethos of Jeanne Lanvin when she started her business in 1889 – entrepreneurship, creativity, openness, and flair for life – which have helped build Lanvin over the past 132 years, remain as strong as ever and will be core to the continued success of the group as it enters the next phase of its global development.
Lanvin Group has also added two new strategic investors, Japanese trading conglomerate ITOCHU Corporation, and luxury footwear developer and manufacturer Stella International, as well as Xizhi Capital, an experienced private equity group in China in various sectors including fashion and consumer. The latest capital round closed at a post-money valuation of over $1 billion, bringing Lanvin Group’s total amount raised across all rounds to approximately $300 million.
Lanvin Group was established by Fosun International Limited in 2017 to capitalize on the growing global demand for luxury fashion, particularly in the China market. Fosun International ranks 459th on the 2021 Forbes Global 2000 List, managing over $120 billion in total assets. Fosun has created multiple market-leading consumer companies, such as Fosun Tourism Group, Fosun Pharma, and Yuyuan Tourist Mart.
Today, Lanvin Group’s portfolio of heritage brands covers a wide spectrum of luxury fashion categories, including French couture house Lanvin, Italian luxury shoemaker Sergio Rossi, Austrian skinwear specialist Wolford, American womenswear brand St. John Knits, and high-end Italian menswear maker Caruso. These five brands have over 390 years of combined history and have a far-reaching global presence in more than 60 countries with more than 1,000 points of sales, 200 retail stores, and 3,500 employees across the world. Over the past 15 months, Lanvin Group has opened an additional 25 stores globally, of which 19 are in Greater China.
“Fosun has consistently capitalized on high-growth sectors and has a successful track record in creating consumer-driven ecosystems,” said Guo Guangchang, chairman and co-founder of Fosun International Limited. “Lanvin Group is set to become the next in a line of industry champions. The group is well-positioned to exploit the resilient demand for luxury goods globally, especially in China, where Fosun and its partners have unparalleled access and track record in growing international consumer brands in the world’s largest consumer market.”
“We welcome our newest investors and strategic alliance with ITOCHU and Stella International, alongside our other partners, in creating a unique ecosystem to drive synergies and sustainable growth across our portfolio,” added Joann Cheng, chairman of Lanvin Group. “Lanvin Group will draw upon ITOCHU and Stella International’s market expertise, know-how, and resources in the luxury footwear and textile categories to boost our global supply chain and distribution capabilities. This will not only enable our portfolio brands to build a strong foothold in the Japan market and broaden their product offering but also enable them to meet growing luxury demand both globally and in China.”
Leveraging the best-in-class resources of its alliance partners, Lanvin Group has strengthened product development and manufacturing operations across the portfolio and advanced digital and e-commerce capabilities of its portfolio brands. This unique strategic alliance will continue to play an integral role in Lanvin Group’s expansion as it drives the growth of the existing portfolio while exploring opportunities to invest in more global luxury fashion brands and to further accelerate growth.
Lanvin Group benefits from the diversity of fashion categories across its portfolio, which provides both significant growth opportunities as well as resilience throughout the fashion cycle. The group will continue to develop this diversified luxury portfolio with a growth strategy anchored in geo-expansion, channel activation, and category development.
Cheng concluded: “The pandemic has already shown that high fashion Maisons are incredibly resilient even in some of the most difficult of times. As the world emerges from the pandemic, we believe demand for luxury fashion products will remain strong and continue to thrive in the years to come.”