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Fosun Group, owner of Lanvin Group, is targeting a new strategy for 2022, starting with an IPO.
Fosun Group plans to list Lanvin Group on the New York Stock Exchange, together with Hong Kong fund Primavera Capital. A SPAC (a private company with no commercial activity intended to raise capital on the stock exchange) has been created for this purpose. In concrete terms, the SPAC is to take 28% of Lanvin (as well as the group’s other brands such as Sergio Rossi). The deal values the Lanvin Group at $1.5 billion and is expected to raise up to $544 million to finance its international expansion.
The good health of the group
Through the business combination, Lanvin Group is expected to benefit from Primavera’s extensive networks and knowledge of the consumer sector, as well as a strong balance sheet, to create long-term sustainable value across its portfolio and catalyse growth with further acquisitions.
Joann Cheng, President and CEO of Lanvin Group explained her vision “Today’s announcement marks another step in Lanvin Group’s growth journey. We are delighted to partner with Primavera for our next chapter of growth in Europe, North America and Asia. (…) We plan to accelerate the growth of our portfolio through organic development and disciplined acquisitions, building a global portfolio of iconic luxury fashion brands that appeal to a broad customer base. Lanvin Group will enable these brands to flourish not only in their home countries, but also in Asia and North America, the world’s largest luxury markets.”
Meanwhile, Fosun announced its financial results for the year ended 31 December 2021. During the reporting period, the Group’s key financial indicators showed steady growth. Total revenue for the year was 161.29 billion yuan (about €23 billion), an increase of 18% year-on-year.
A long-term strategy
Lanvin Group’s ESG policy follows that of Fosun International, whose most recent MSCI ESG rating is “AA”. As a global luxury company, Lanvin Group and its brands take initiatives to create business value and prioritise sustainability.
In addition, thanks to the Group’s investments in digitisation, marketing and expansion of their product categories and shop presence, the brands are ideally positioned to exploit their full potential.
On the global side, Lanvin Group has a strong base in Europe, with almost half of sales currently coming from the EMEA region. In addition to the significant future growth opportunities in Europe, the Group is focused on realising the untapped potential of the brands in Asia and North America, where its brands are at an inflection point to achieve rapid and significant future growth. Greater China accounted for 14% of the Group’s global sales in 2021, and North America 33%.
The Group’s flagship brand, Lanvin, acquired in 2018, reaffirmed its strong growth trajectory in 2021, with global revenue up 103% year-on-year. Among this growth, revenues in Greater China and North America increased by 122% and 298% respectively.
Read also > LANVIN GROUP GETS A NEW BRAND IDENTITY
Featured photo : © Lanvin[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]
Fosun Group, owner of Lanvin Group, is targeting a new strategy for 2022, starting with an IPO.
Fosun Group plans to list Lanvin Group on the New York Stock Exchange, together with Hong Kong fund Primavera Capital. A SPAC (a private company with no commercial activity intended to raise capital on the stock exchange) has been created for this purpose. In concrete terms, the SPAC is to take 28% of Lanvin (as well as the group’s other brands such as Sergio Rossi). The deal values the Lanvin Group at $1.5 billion and is expected to raise up to $544 million to finance its international expansion.
The good health of the group
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Fosun Group, owner of Lanvin Group, is targeting a new strategy for 2022, starting with an IPO.
Fosun Group plans to list Lanvin Group on the New York Stock Exchange, together with Hong Kong fund Primavera Capital. A SPAC (a private company with no commercial activity intended to raise capital on the stock exchange) has been created for this purpose. In concrete terms, the SPAC is to take 28% of Lanvin (as well as the group’s other brands such as Sergio Rossi). The deal values the Lanvin Group at $1.5 billion and is expected to raise up to $544 million to finance its international expansion.
The good health of the group
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