Chinese firm Fosun Fashion Group rebrands to Lanvin Group

Lanvin Group has 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 $1 billion, bringing Lanvin Group's total amount raised across all rounds to approximately $300 million, the company said in a media release.

Lanvin Group was established by Fosun International Limited in 2017 to capitalise on the growing global demand for luxury fashion, particularly in the Chinese market. Fosun International ranks 459^th on the 2021 Forbes Global 2000 List, managing over $120 billion in total assets.

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.

Guo Guangchang, chairman and co-founder of Fosun International Limited, commented: "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."

Leveraging the best-in-class resources of its alliance partners, Lanvin Group has strengthened product development and manufacturing operations across the portfolio and advanced digital and e-commerce capabilities of its portfolio brands. This unique strategic alliance will continue to play an integral role in Lanvin Group's expansion as it drives the growth of the existing portfolio while exploring opportunities to invest in more global luxury fashion brands and to further accelerate growth, the release said.

Fibre2Fashion News Desk (KD)