After a new round, the Lanvin Group’s value has reached $1Billion. Lanvin
The new entity, which is now called Caruso, owns brands such as Lanvin, Sergio Rossi Wolford, Wolford and St John Knits. It has also taken on strategic partners and investors as part of the revamp.
Lanvin Group’s investors now include Japan’s Itochu Corporation, a trading and textile company, Chinese footwear giant Stella International and private equity firm, Xizhi Capital. The company’s latest capital round doubles the value. fashionAccording to a press release: Group to $1 Billion
“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, said:
The former Fosun Fashion Group has been busy over the pandemic period, adding both new brands (it purchased Sergio Rossi in June) and building out its network of strategic partners, which also include New World Development’s luxury shopping mall group K11, Chinese e-commerce partner Baozun, Chinese fashionLuxury marketing company Activation Group, and apparel manufacturer Neo-Concept Group.
According to the company, the five Lanvin Group brands have approximately 200 retail stores and more than 1,000 points of sales in over 60 countries.
Fosun Fashion Group Acquires Sergio Rossi
Chinese owner of Lanvin and St Johns and Wolford has added the Italian luxury shoemaker to their growing brand portfolio.