Amidst financial troubles, Lanvin has found a new owner. Today, it was announced that Shanghai-based Fosun International has acquired a majority stake in France’s oldest fashion house.
Fosun, the owner of resort chain Club Med, hasn’t offered any specifics regarding the deal, but it did disclose that current shareholders will maintain a minority stake in the company. Last year, Lanvin released a statement regarding its recapitalization, following that information up with news that then-owner Shaw-Lan Wang would inject millions of her own money into the company by year’s end. Insiders speculate that Fosun will supplant €100 million EUR ($123 million USD) into the flagging fashion brand, with Fosun noting that with its resources, Lanvin will “enter a new phase of expansion.”
As news of the purchase broke, Lanvin launched its new website and to “stay tuned for more news!” For now, take a look at the label’s Fall/Winter 2018 runway collection from Paris Fashion Week.
- The New York Times