PARIS, Feb. 22, 2018 /PRNewswire/ -- Fosun International Limited (SEHK stock code: 00656) ("Fosun International") and its subsidiaries (together "Fosun") announced the acquisition of a controlling stake in Jeanne Lanvin SAS (d/b/a "Lanvin"), the oldest luxury couture house in France still in existence.
The luxury fashion house, Lanvin, was founded by Jeanne Lanvin in 1889. In 2001, Taiwan-based businesswoman Shaw-Lan Wang saw the potential of the brand in Asia and acquired a majority stake. Currently, Lanvin operates in more than 50 countries with womenswear, menswear, kidswear and accessories including footwear and leather goods. Lanvin has long been synonymous with Parisian elegance and it has always been quoted as one of the most prestigious fashion house in the world.
"Fosun's understanding of the brand and strong track record in the European and global market, including their successful partnership and transformational strategies with Club Med, Tom Tailor and many others, make us believe that Fosun is the right long-term strategic partner to team up with", says Mr. Nicolas Druz, Lanvin's current CEO.
"As a French brand with almost 130 years of history, partnering with Fosun, one of the youngest and dynamic group at the moment, is absolutely exciting and can open up great potential", adds Mr. Simone Mantura, current Deputy General Manager.
Mr. Guo Guangchang, Chairman of Fosun International says, "Not all brands can go through more than a century's time and still shine and be admired like Lanvin. We feel honored to become its new partner and believe this globally renowned brand and its rich history has tremendous growth potential."
"Lanvin is adding a luxury asset to Fosun's Fashion Group. As China becomes the main growth driver of the global luxury market, we are confident that Fosun can bring great incremental value to Lanvin with our global resources and expertise, while being absolutely committed to Lanvin's high luxury positioning and its exceptional quality of products manufactured in France and Italy", said Joann Cheng, Vice CFO of Fosun International and Executive President of Fosun Fashion Group.
Fosun has been actively investing in the global fashion and consumer industry with the rapidly increasing global consumption upgrade of China. Fosun recently commissioned the Fosun Fashion Group to capitalize on this trend and to manage Fosun's growing portfolio of assets in the fashion sector. The Fosun Fashion Group has a mandate to invest globally in the fashion and retail industry, and strategically deepen its root in this sector.
About Fosun
Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656:HK) since 2007. Founded in 1992, Fosun's total assets exceed RMB500 billion (c.US$75 billion). With its roots in China, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world.
About Fosun Fashion Group
The Fosun Fashion Group was created to manage Fosun's current portfolio of fashion assets including St John Knits, Caruso, and Tom Tailor as well as invest in additional global flagship brands to leverage the momentum in the Chinese consumer market. The Fosun Fashion Group team is comprised of operating and investment professionals with vast experience investing in and operating multinational brands. The Fosun Fashion Group believes that long-term value can be created through a variety of strategic initiatives, including brand building, new product development, strategic alliances, entry into new channels and marketing.
About Lanvin
Lanvin is a French fashion house founded in 1889 by Jeanne Lanvin, who created a particular style -- a complete world of elegance and refinement. She loved culture, surrounding herself with artists and rising stars from many different fields, leaving behind an exceptional cultural legacy.
Today, her famous codes such as the work on colors shades, on contrast, on duality, on couture details, are identifiable there and then throughout the different Lanvin collections, twisted for a contemporary version. A capacity for hard work and an intuitive understanding of the modern world explain the extraordinary success of Lanvin.
