Fosun Fashion Group, a global luxury fashion company, has changed its name to “Lanvin Group”. Lanvin, the oldest French luxury couture fashion house, has been part the company’s portfolio from 2018. Lanvin Group, the company’s rebranding, gives it an obvious association with a globally recognized fashion brand. It is working to grow its luxury brand portfolio and expand its international business.
Lanvin Group also has two strategic investors: ITOCHU Corporation, a Japanese trading conglomerate, and Stella International, a luxury footwear developer, manufacturer, and designer, as well Xizhi Capital. Xizhi Capital is an experienced Chinese private equity group that invests in various sectors, including fashion and consumer goods. Lanvin Group has now raised approximately 300 million dollars through all its capital rounds.
Guo Guangchang (chairman and co-founder Fosun International Limited) stated that Fosun has “consistently capitalized on high growth sectors and has a success track record in creating consumer driven ecosystems. Lanvin Group will be the next industry leader. The group is well placed to capitalize on the global demand for luxury goods, particularly in China where Fosun and partners have unrivalled access to the market and a track record of growing consumer brands in China’s largest consumer market.”
Joann Cheng (chairman of Lanvin Group) said in a statement that she was pleased to welcome the new investors and strategic alliance with ITOCHU, Stella International and other partners. This will create a unique ecosystem for sustainable growth and synergies across our portfolio. Lanvin Group will use ITOCHU’s market knowledge, know-how, and resources in luxury footwear and textile categories to improve our global supply chain. This will allow our portfolio brands to establish a strong foothold on the Japan market, expand their product range, and meet growing luxury demand globally and in China.
Fosun International has a total of over 120 billion dollars worth of assets. Fosun International has been a pioneer in the creation of market-leading consumer businesses, including Fosun Tourism Group and Fosun Pharma.
Lanvin Group’s heritage brands include French couture house Lanvin and Sergio Rossi, Wolford and St. John Knits. It also includes high-end Italian menswear brand Caruso. These five brands are present in over 60 countries, with more than 1000 sales points, 200 retail shops and 3500 employees. Lanvin Group has added 25 new stores to its global portfolio over the past 15 months, 19 of which are located in Greater China.
Lanvin Group also focuses on enhancing product development and manufacturing operations throughout its portfolio, as well as advanced digital and eCommerce capabilities for its portfolio brands. They will enable Lanvin Group to expand its investment in luxury brands worldwide and accelerate its growth.
Masahiro Mofuji, ITOCHU Corporation’s managing executive officer, stated that “We are delighted to partner with Fosun” and will be joining their strategic alliance in the fashion industry. We feel that the Lanvin Group has a lot to gain from our global experience and resources.”
Stella International CEO Stephen Chi stated in the same statement that “Lanvin Group’s strategic alliance was unique in the global luxury fashion industry. We are thrilled to join it and be able offer our combined capabilities in the design and development of luxury sneakers to brand partners.”
