Lanvin Group, a well-known fashion company, is preparing to make a historic debut on the New York Stock Exchange (NYSE) this week. The company has gained shareholder approval for its merger with Primavera Capital Acquisition Corporation (PCAC), and its shares will be listed on December 15th under the ticker LANV. The completion of the merger is set to take place the day before, pending standard closing conditions.
To commemorate this momentous occasion, members of the Lanvin Group’s management team and PCAC will have the honor of ringing the opening bell at the NYSE at 09:30 Eastern Time on Thursday. They will be joined by the leadership teams of Lanvin, Wolford, Sergio Rossi, St John Knits, and Caruso brands, all of which are owned by the Lanvin Group.
This listing holds great significance as it is the first time in a year that a fashion specialist has made its debut on a US stock exchange. The current challenging environment has dampened the enthusiasm surrounding similar initial public offerings. However, Joann Cheng, Chair and CEO of Lanvin Group, believes that going public is a natural step for the company at this stage. The group has successfully built a portfolio of iconic brands and has achieved strong growth in recent years. Cheng asserts that their strategy for continuous organic growth, which includes expanding geographically, through various sales channels, and with new product offerings, along with disciplined investments in the luxury fashion sector, will lead to sustained long-term growth and value for their shareholders.
With its proven resilience in the luxury market, Lanvin Group is confident in its ability to overcome challenges and seize opportunities. The decision to list on the NYSE showcases the group’s unwavering commitment to its strategic vision and its belief in the potential for further growth and success.
Useful links:
– New York Stock Exchange
– Lanvin Group Official Website
