Lanvin is exploring to sell a majority stake, according to a report from WWD on Monday. A number of potential investors are allegedly in talks with the struggling French fashion house, including Mayhoola Group, which has been considering a Lanvin sale as early as 2016. However, the Qatari investor and owner of luxury labels like Valentino and Balmain reportedly couldn't agree with Lanvin owner Shaw-Lan Wang's high asking price.
Seeking a buy-out could be the solution to the brand's ongoing financial troubles. Lanvin's sales have steadily slumped since Alber Elbaz's surprising exit, and his successor, Bouchra Jarrar, stepped down after only two seasons. New artistic director Olivier Lapidus debuted his first, logo-heavy collection for Spring 2018, but it received less-than-stellar reviews. The house's struggles have also turned interested buyers away, including Kering and Michael Kors Holdings. A WWD source says Kering turned down acquiring Lanvin "because of the high level of investment required to restore the house to financial health."
Lapidus will showcase his second collection for Fall 2018 at this coming Paris Fashion Week. Meanwhile, we reached out to Lanvin for comment and will update this post as we learn more.
UPDATE, Friday, Feb. 9, 11:00 a.m.: According to an exclusive report by "Fashion Network," China's Fosun International is one of the potential buyers interested in Lanvin. (Fosun International's portfolio includes brands Folli Follie and St. John, among others.) Sources also say that the French fashion house may run out of funds by March. According to the French Couture and Fashion Federation, Lanvin will also replace its Fall 2018 runway show with a presentation during Paris Fashion Week.
UPDATE, Monday, Feb. 12, 8:55 a.m.: Chinese conglomerate Fosun International has reportedly beat out Mayhoola Group to win control of Lanvin, reports WWD as according to several sources close to the matter. Nothing is official, and the staff at the French fashion house has allegedly not yet been notified of the deal.
WWD states that Fosun — which owns and/or operates everything from pharmaceutical operations to private hospitals to, randomly, Club Med, in which it has an 85 percent stake — has planned to supply 100 million euros in cash.
UPDATE, Thursday, Feb. 22, 7:53 a.m.: On Thursday, WWD reported that the aforementioned deal between Fosun International and Lanvin has officially been finalized, with Fosun beating out Qatari rival Mayhoola Group to win control of the struggling French fashion label. The current agreement reportedly leaves Lanvin's current shareholders, Taiwanese media mogul Shaw-Lan Wang and Swiss businessman Ralph Bartel on the board, but with a minority stake. No specific financial details were provided at this time, though according to a source, per WWD, Fosun is looking to invest 120 million euros in Lanvin.