Fosun news and archive

Struggles at Lanvin Group as parent company eyes asset sales

Fosun International’s efforts to build a global luxury portfolio under its fashion arm the Lanvin Group, may be in flux. The Chinese conglomerate, which spent the last decade acquiring high-end brands including Lanvin, Wolford, and St. John Knits, is now reported to be open to divesting from some of its fashion investments, highlighting the...

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Can Lanvin's new manager return the brand to desirability?

French luxury maison Lanvin has appointed Siddhartha Shukla as its new deputy general manager. Shukla steps into the role to replace Arnaud Bazin, who is exiting the company after just 14 months. Lanvin is France’s oldest couture house, but despite its rich heritage the brand has seen revenue plummet since the exit of Alber Elbaz in 2015. Lanvin...

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Lanvin CEO to step down after 18 months in position

Jean-Philippe Hecquet — the chief executive officer of Lanvin — will step down from his role. He leaves the role after taking the reins of the fashion house in 2018. As the brand looks for the Hecquet’s predecessor, the chairman of Lanvin’s parent Fosun Fashion Group and head of the board of directors of Lanvin, Joann Cheng, will assume the...

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Management|UPDATE

Fosun may obtain full control of German fashion retailer Tom Tailor

China’s Fosun International Ltd may obtain full control of German fashion retailer Tom Tailor, in which the company currently holds a stake of about 29 percent. Fosun declared to the European Commission on December 21 that it may passively obtain “de facto control” of the Hamburg-based retailer after attendance rates at past shareholder meetings...

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Management

Lanvin appoints ex-Sandro manager as CEO

After four years at Sandro, Jean-Philippe Hecquet joins French fashion house Lanvin as chief executive officer. In his time as CEO of Sandro, Hecquet managed to establish the brand with 600 stores in 43 countries worldwide, according to a statement by Lanvin on Tuesday. Prior to that, he spent 14 years with French luxury group LVMH Moët Hennessy...

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Report

Wolford posts 3.4 percent decline in annual revenue

Wolford AG, for the 2017/18 financial year reported revenue decline by 3.4 percent to 149.07 million euros (174.2 million dollars). Adjusted for currency items, the company said, the downturn in revenues came to 1.4 percent. Hover over the graph to learn more. Wolford added that given the systematic reduction in current expenses, operating...

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Report

Fosun increases shareholding in Wolford to 58 percent

London - Fosun Industrial Holdings Limited, the group controlled by Chinese billionaire Guo Guangchang, has increased its majority holding in Wolford AG. Following its acquisition of 50.87 percent of the shares from the company’s previous majority shareholders earlier this month, Fosun takeover offer to acquire all outstanding shares in Wolford...

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Management

Fosun to acquire majority stake in Wolford, ahead of takeover bid

London - Fosun Industrial Holdings Limited is set to acquire a majority stake in luxury Austrian textile manufacturer Wolford AG. The Chinese financial investor has come to an agreement with the main shareholder of the struggling group and is set to take over more than 2.5 million shares, approximately 50.87 percent of the total share capital of...

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Who is Mr Guo, Lanvin’s new owner?

Employees of the French designer label Lanvin can breathe easy now. The venerable fashion house is finally emerging from the black hole in which it has been stuck since the departure of Alber Elbaz. At least, this is the gist of the announcement of an agreement signed earlier this month between the fashion house Lanvin, previously owned by...

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Chinese snap up ailing French fashion label Lanvin

Chinese conglomerate Fosun snapped up the ailing French fashion label Lanvin Thursday and promised to revive its fortunes. Lanvin, the oldest French luxury house still in existence, has been in turmoil since the shock sacking of popular designer Alber Elbaz two years ago. It sank into the red to the tune of 18.3 million euros (21.2 million...

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Management

Fosun Group in exclusive talks to buy majority stake in La Perla

Shanghai-based Fosun International has reportedly entered exclusive talks to buy La Perla. Silvio Scaglia, who bought the lingerie brand in 2013, has 30 business days to convince the Chinese group of the benefits of buying a majority stake in the Italian company. Italian entrepreneur Silvio Scaglia, the founder of telecoms group Fastweb, bought...

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Business

China's giant 'Unicorn' Fosun races for more deals

A string of overseas investments has shone a new spotlight on Chinese conglomerate Fosun, after the mysterious disappearance -- and re-emergence -- of its tycoon chairman rattled investors. In the space of three days last week, the Shanghai-based company bought a stake in an Indian drugmaker for 1.26 billion US dollars , acquired a Brazilian...