Fosun Fashion Group has a new name, Lanvin Group, and new investors who bring the valuation of the Chinese fashion conglomerate to more than $1 billion.
Armed with more capital and industry expertise, the Shanghai-based firm plans to push further into Asia and the U.S., and continue building its portfolio of premium and luxury brands.
Joann Cheng, chair of Lanvin Group, said Its latest funding round raised about $150 million and brought on board two strategic investors Japan’s Itochu Corp, and Chinese high-end footwear maker Stella International as well as private equity firm Xizhi Capital, but Fosun International Ltd remains stay the majority stakeholder. Continue reading
Lanvin has tapped Arnaud Bazin as its new deputy general manager. The fashion house confirmed his arrival and said Bazin would work with Grace Zhao, its new deputy general manager for the Asia-Pacific businesses. “Together, Mr. Bazin and Ms. Zhao will oversee the overall strategy for the brand and its implementation globally,” .The lord of luxury dispatches his men everywhere in fashion and luxury groups.
Bazin was most recently senior vice president of collection merchandising at Versace, and has been in that role, a new one, a little over a year. Zhao joined Lanvin last November from Dolce & Gabbana, where she was senior vice president, Asia-Pacific.
“I am very glad that Arnaud has joined us and we will continue to drive the development of the company as a team,” said Joann Cheng, chairman of Lanvin.“We have seen significant growth in Asia-Pacific since Grace joined and we believe it is the second engine for us to display the growth trajectory globally,” she added. Continue reading
As with many fashion executives the world over, Joann Cheng the chairwoman of Fosun Fashion Group, had a litany of urgent challenges brought to her desk by the outbreak of the coronavirus.
The owner of fashion brands including Lanvin, Caruso, St. John Knits and Wolford, among others, was facing widespread production delays, order cancellations from multiple wholesalers, not to mention a general plunge in retail sales as mandatory stay-at-home orders were issued across numerous countries.
It’s a challenge honestly, said Cheng, sitting in her office on a high floor of the Bund Finance Centre here.
The country was first hit in January by COVID-19 but four months later, the nation is largely recovered and life looks remarkably a lot like it did pre-virus in Shanghai. Traffic jams have returned, and masks are no longer required by the government to be worn by people out and about. Shoppers are creeping back incrementally, she observed. Continue reading
Lanvin has appointed Bruno Sialelli artistic director, signaling new direction for the historic French house. “His singular and very personal vision, his audacity, his culture, his energy and ability to build a strong creative team definitely convinced us,” said Lanvin chief executive officer Jean-Philippe Hecquet.
The Fosun Fashion Group-owned label cited the designer’s “youthful translation” of its storied heritage along with his ability to navigate between men’s and women’s wear among reasons for settling on the designer in a process that involved an “incredible array” of candidates for the position.The former Loewe men’s wear designer worked under the direction of J.W. Anderson. He has also worked at Balenciaga, with Nicolas Ghesquière and Alexander Wang, as well as Acne Studios, where he was the senior designer for women’s wear, and Paco Rabanne. Continue reading