Chinese conglomerate Fosun buys luxury French fashion brand Lanvin

Chinese fashion conglomerate Fosun has added luxury French fashion brand Lanvin to its offering.

The company has acquired the 129-year-old fashion house, and though they monetary value of the deal has not been disclosed, Lanvin will retain a small stake in its business.

This is part of a trend of luxury French brands becoming popular in China. Last year, French Champagne manufacturer Laurent-Perrier announced the appointment of its first Asian female Director, Wendy Siu, who founded Hong-Kong based luxury French lifestyle shop Heather and March. In addition to being the first Asian female on any French luxury brand board and advocating for more gender equality in such companies, Siu’s appointment also marked an effort to capture Asia’s growing luxury market.

See also:

Laurent Perrier appoints Heather and March boss to board

City Focus: Singapore

Pomelo – making fashion fun again in Southeast Asia

The deal will therefore capitalise on an increasingly wealthy Chinese middle class which is spending more on luxury brands and experiences.

Fosun was founded in 1992 and since 2010 has been expanding rapidly. Another French luxury purchase was resort operator Club Med. Fosun has also bought stakes in Folli Follie, a fashion and jewellery brand, and Cirque du Soleil.

Lanvin’s Chief Executive Nicolas Druz said of the deal: “Fosun’s understanding of the brand and strong track record in the European and global market, including their successful partnership and transformational strategies with Club Med, Tom Tailor and many others, make us believe that Fosun is the right long-term strategic partner to team up with.”

Fosun’s founder and CEO Guo Guangchang stated: “Not all brands can go through more than a century’s time and still shine and be admired like Lanvin. We feel honoured to become its new partner and believe this globally renowned brand and its rich history has tremendous growth potential.”


Featured Articles

Top 10 best-performing Australian companies: mines to banks

Among Australia’s largest companies by market cap are the country’s Big Four banks, a tech startup that successfully scaled, and two firms with female CEOs

Top 10 richest Southeast Asia: how they made their fortunes

From Singapore’s paint tycoon to Malaysia’s sugar king, we round up the 10 richest people in Southeast Asia – and investigate how they made their billions

Will moonlighting ever become accepted practice in India?

While not a new phenomenon, moonlighting has become a hot button issue across India with IT majors cracking down on it. Will the practice ever be accepted?

New YouTube CEO Neal Mohan joins surge of Indian-origin CEOs

Leadership & Strategy

Ex Infosys President Ravi Kumar is the CEO Cognizant needs

Leadership & Strategy

How India is bucking the global dealmaking downturn

Corporate Finance