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, the demand for luxury fashion products will remain strong and continue to thrive in the years to come.
Fosun Fashion Group, the owner of Lanvin, Sergio Rossi, Wolford, St John Knits and Caruso, Rebrands to Lanvin Group. The newly-renamed luxury group has taken on new investors and strategic partners as part of the revamp.
Fosun Fashion Group, the global luxury fashion group, today announced its rebranding to “Lanvin Group”. Lanvin, founded in 1889, is the oldest operating French luxury couture fashion house, recognized globally for its iconic heritage and timeless designs. The new Lanvin Group intends to build a global portfolio of iconic luxury fashion brands as it embarks on a new phase of growth both globally and in China.
Behind the decision to rename the group Lanvin Group lies the power of the Lanvin brand.
Lanvin Group also announced 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 US$1 billion, bringing Lanvin Group’s total amount raised across all rounds to approximately US$300 million.
Lanvin Group also welcomes ITOCHU Corporation and Stella International to its strategic alliance of multibillion-dollar powerhouses operating across different segments of the luxury fashion value chain, which has come together with Lanvin Group to drive growth in China and overseas.
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 US$120 billion in total assets. Fosun has created multiple market-leading consumer companies, such as Fosun Tourism Group, Fosun Pharma and Yuyuan Tourist Mart.
Lanvin Group’s portfolio of iconic heritage brands covers a wide spectrum of luxury fashion categories, including French couture house Lanvin, Italian luxury shoemaker Sergio Rossi, Austrian skinwear specialist Wolford, iconic 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 far-reaching global presence in more than 60 countries with more than 1000 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. 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.” – Guo Guangchang, Chairman and Co-founder of Fosun International Limited.
“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. 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.” – Joann Cheng, Chairman of Lanvin Group.