Chinese group wins race to acquire Lanvin
28/02/2018
Fosun gave no details of the value of the transaction, but said Lanvin’s current shareholders will retain a majority stake in the company.
“As China becomes the main growth driver of the global luxury market, we are confident that Fosun can bring great incremental value to Lanvin with our global resources and expertise, while being absolutely committed to Lanvin’s high luxury positioning”, said Joann Cheng, vice chief financial officer of Fosun International.
Reuters quoted a source close to the matter as saying that Fosun will invest around €100 million in its new acquisition.
It reportedly beat off competition form Qatari investment fund Mayhoola to take control of Lanvin.
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