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Global luxury fashion group harnessing the power of Shopify technologies to build a disruptive digital platform
SHANGHAI, April 27, 2022 /PRNewswire/ -- Lanvin Group (the "Group"), a global luxury fashion group, today announced that it has entered into a commercial agreement with Shopify (NYSE: SHOP), a leading provider of essential internet infrastructure for e-commerce, that will allow it to build a North American digital platform powered by Shopify's technologies.
From H2 2022, Lanvin and Sergio Rossi will become the first of the Group's luxury brands to transition onto the digital platform in the North American market, allowing them to unlock new growth opportunities with market-leading digital capabilities in the world's largest luxury fashion market.
The new digital platform powered by Shopify's high performing and trusted technologies will allow the brands to focus on what matters the most - products and customers - and to continue their expansion with the assurance and support of a robust commerce engine in the years to come. This will form an important part of the Group's ongoing efforts to provide best-in-class customer experience with dedicated merchandise and content, as well as optimized and localized omni-channel shopping services.
Shopify's highly modular and scalable solutions offer great potential for the Group's other existing and any newly-acquired luxury brands to centralize their e-commerce functions on a shared platform, creating synergies across the portfolio, while still maintaining individual brand's unique interfaces and databases. The Group will adopt Shopify's agile and user-friendly digital solutions to further enhance the increasingly important digital experience for customers, and benefit from Shopify's extensive app-based ecosystem in business process optimization and digital acceleration as it continues to expand globally through retail footprint expansion, e-commerce channel activation and category expansion.
Ms. Joann Cheng, Chairman and CEO of Lanvin Group, said: "As an innovation-driven luxury fashion group, we strive to usher in the future of luxury. Shopify has been at the forefront of innovation, working with some of the most successful businesses to transform e-commerce for merchants and consumers globally. The launch of our new Shopify-powered platform is a testament to our differentiated strategy to deliver high growth by leveraging the newest technologies, working with best-in-class partners, and speaking to the consumers of tomorrow. Our legacy-light and digital-native model allows us to integrate Shopify's disruptive technologies across our portfolio of heritage brands. Thanks to the strengthened e-commerce capabilities brought by Shopify, Lanvin Group is now even better equipped to capture the significant growth opportunities we have identified in North America, the world's largest luxury market."
Harley Finkelstein, President of Shopify Inc., said: "At Shopify, we enable the world's best brands to seamlessly reach their customers and connect with new audiences. We are thrilled that Lanvin, an iconic, 130-year old brand, has chosen Shopify to power its ecommerce business as it enhances its digital platform in North America. With our world-class technology, we know this launch will enable Lanvin to pursue endless possibilities and growth opportunities."
Lanvin Group recently announced that it has entered into a definitive business combination agreement with Primavera Capital Acquisition Corporation (NYSE: PV) that is expected to list Lanvin Group on the New York Stock Exchange.
Note to Editor
According to Bain-Altagamma Luxury Goods Worldwide Market Study (Fall 2021-20th), online channel is on track to becoming the number-one distribution channel by 2025, accounting for approximately 30% of the personal luxury goods market. The online personal luxury goods market almost doubled its size between 2019 to 2021, representing a €62 billion market on its own. Websites devoted to a single brand gained ground on other types of online platforms and made up 40% of the online segment in 2021, up from 30% in 2019.
About Lanvin Group
Lanvin Group, is the leading global luxury fashion group headquartered in Shanghai, China, managing iconic brands worldwide including Lanvin, Sergio Rossi, Wolford, St. John Knits, and Caruso. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an intimate understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. For more information about Lanvin Group, please visit www.lanvin-group.com, and to view our investor presentation, please visit www.lanvin-group.com/investor-relation/.
About Shopify
Shopify is a leading provider of essential internet infrastructure for commerce, offering trusted tools to start, grow, market, and manage a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for reliability, while delivering a better shopping experience for consumers everywhere. Proudly founded in Ottawa, Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as Allbirds, Gymshark, Heinz, Tupperware, FTD, Netflix, FIGS, and many more. For more information, visit www.shopify.com.
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