Driven by strong results, the luxury group, which owns various prestigious brands including Lanvin, Wolford, St. John Knits, Caruso, and Sergio Rossi, is seeking to enhance its brand portfolio. The Lanvin Group, with a projected revenue of €339 million in 2021, marking a remarkable 52% increase from the previous year, has set its sights on further expansion. It is important to note that the Chinese entity, formerly known as Fosun Fashion Group, has made considerable efforts in recent months to push boundaries.
On the retail front, the group has seen a tremendous 50% surge in direct-to-consumer sales, driven by the recovery from the impact of the Covid-19 pandemic and the establishment of new physical stores across Europe, North America, and Asia, as well as an enhanced online presence. The outcome has been an astounding 108% surge in sales for Lanvin alone, amounting to €73 million, with particularly robust growth in North America (253%) and mainland China (134%). Additionally, Lanvin witnessed a remarkable 415% increase in e-commerce, and in the coming weeks, the brand, along with Sergio Rossi, plans to launch a new digital platform in North America.
With the impending merger with Primavera Capital Acquisition Corporation, the Lanvin Group is contemplating a listing on the New York Stock Exchange, valuing the company at $1.5 billion. Moreover, the group aims to continue establishing strategic partnerships throughout its value chain. Last year, the group established collaborations with Baozun for e-commerce, Activation Group for marketing and data performance, and Stella International as a leather goods manufacturer. These partnerships could potentially pave the way for the integration of additional labels into the Lanvin Group. “The Group remains committed to exploring strategic partnerships and acquisition opportunities that enhance its luxury fashion ecosystem and complement its existing portfolio,” stated the group, just one year after acquiring the renowned Italian fashion house Sergio Rossi. Joann Cheng, CEO of Lanvin Group, expressed, “We are witnessing significant momentum across all our brands as we solidify our presence in Europe and capitalize on untapped opportunities in the North American and Asian markets.” Cheng also mentioned in an interview with Bloomberg that the next brand acquisition could occur in 2023.
Overall, the Lanvin Group is poised for further growth as it leverages its strong financial performance, expands its retail presence, explores strategic partnerships, and considers potential acquisitions. The luxury conglomerate is capitalizing on emerging opportunities in global markets, particularly in North America and Asia.
Useful Links:
1. Lanvin Official Website
2. Bloomberg
