Fosun Takes Over Lanvin Amid Global Expansion Into Luxury Goods
Liao Shumin
DATE:  Feb 23 2018
/ SOURCE:  Yicai
Fosun Takes Over Lanvin Amid Global Expansion Into Luxury Goods Fosun Takes Over Lanvin Amid Global Expansion Into Luxury Goods

(Yicai Global) Feb. 23 -- Chinese conglomerate Fosun International has snapped up France's oldest haute couture brand Lanvin as it looks to expand its global portfolio of luxury marques.

The group will take a controlling stake in Jeanne Lanvin SAS, founded in 1889, it said on social media. The Paris-based fashion house was previously majority owned by Shaw-Lan Wang, a Taiwanese businesswoman. It sells clothing, shoes, accessories and perfume in more than 50 countries.

The Chinese company set up Fosun Fashion Group, a dedicated unit to hunt for investment targets in the fashion and consumer goods fields, it said. The firm hopes the latest acquisition will fuel the division's development.

"Our partnership with Lanvin will bring the world's leading fashion brands to Fosun Fashion Group," said Cheng Yun, chief executive of the unit and deputy chief financial officer at Fosun International. "As China is now becoming a major driver for the global luxury market, we believe Fosun will bring new energy to Lanvin and maintain its competitiveness and historical value." 

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Keywords:   FOSUN INTERNATIONAL,Lanvin,Fashion