Today, Lanvin Group has made a significant milestone in its history as it debuts on the New York Stock Exchange. This momentous occasion is supported by its alliance with Primavera Capital Acquisition Corporation (PCAC), a strategic partnership that was announced several months ago. The PCAC shareholders have given their approval for the business combination, and Lanvin Group has now officially embarked on its American stock market journey.
The teams from PCAC and Lanvin Group, together with representatives from the company’s brands – Lanvin, Wolford, Sergio Rossi, St. John Knits, and Caruso – gathered this morning to kick off trading activities under the symbol “LANV”. This event marks a turning point for the company and showcases its dedication to driving growth and delivering value to its shareholders.
CEO of Lanvin Group, Joann Cheng, expressed confidence in the company’s long-term growth prospects. She emphasized their iconic portfolio of heritage brands and their strong track record of organic growth through expanding channels and products. With a proven resilience in the luxury market, Lanvin Group believes that their strategy will continue to bring success and high value to their stakeholders.
In addition to going public, Lanvin Group has been undergoing a strategic repositioning effort over the past few months. Bolstered by a 73% growth in the first half of 2022 compared to the previous year, the company has achieved a record revenue of 202 million euros. This financial strength has enabled Lanvin Group to continue its restructuring journey through strategic partnerships throughout its value chain. Notable collaborations have been formed with Baozun, Shopify, and Stella International, showcasing the company’s commitment to growth and innovation.
Looking ahead, Lanvin Group has ambitious plans to acquire new brands. Following the successful addition of Sergio Rossi to its portfolio last year, CEO Joann Cheng mentioned that another acquisition could take place in 2023. The company’s expansion efforts are not limited to brand acquisitions, as evidenced by the recent establishment of Lanvin Blanc, a dedicated house for the golf fashion universe.
Overall, Lanvin Group’s debut on the New York Stock Exchange and its strategic initiatives solidify its position as a prominent player in the luxury fashion sector. With a strong portfolio of heritage brands, continuous growth, and a focus on strategic partnerships and acquisitions, Lanvin Group is poised for further success in the future.
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