FILE PHOTO: The Lanvin logo, luxury clothing and accessories can be found in the window of the French fashion house Lanvin store on February 22, 2018 in Paris, France. Reuters / Gonzalo Fantes
11 October 2021
MILAN (Reuters) – China’s Fosun Fashion Group announced on Monday that it will use the reputation of one of its labels to rename it to Lanvin Group as it seeks to build a global portfolio of luxury brands.
Along with French clothing label Lanvin, the Fosson fashion group manages Italian luxury shoe maker Sergio Rossi, luxury tailor Caruso, Austrian hosiery and underwear specialist Wolford and American women’s clothing brand St. John’s Knits. Growth.
Fosun Fashion Group said it will continue to explore opportunities to invest in luxury fashion brands to drive growth.
Chinese buyers are the largest buyers of luxury goods in the world, and China also has its own fashion company. However, Chinese companies, including those that have bought established European labels, have so far found it difficult to launch into Western markets.
Founded in 2017 by Chinese conglomerate Fosun International Limited, Fosun Fashion Group said two new strategic investors, Japanese business conglomerate ITOCHU and luxury shoe maker Stella International, have joined.
(Reporting by Alyssa Anzolin, edited by Lewis Haven)