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Tag: Lanvin

  • Barbara Werschine Takes the Helm at Lanvin: A Luxury Brands New Era Begins

    Barbara Werschine Takes the Helm at Lanvin: A Luxury Brands New Era Begins

    Lanvin Group has announced the appointment of Barbara Werschine as the new Chief Executive Officer (CEO) of Lanvin. This strategic decision is part of the luxury fashion group’s initiative to bolster Lanvin’s global standing and promote growth.

    Barbara Werschine Heading Lanvin’s Strategic Direction

    Werschine will take charge of Lanvin’s strategic guidance, steering its international growth and enhancing the brand’s status in the global luxury marketplace. With over two decades of experience in the luxury industry, Werschine has previously occupied high-ranking positions at several renowned fashion establishments.

    She transitions to Lanvin from her prior role as CEO of Eric Bompard, a French cashmere specialist brand. During her tenure there, she streamlined the brand’s modernization efforts while also enhancing its financial performance. Earlier in her career, Werschine was a part of the executive committee at Hermes, as director of leather goods collections. Her professional journey also includes leadership and product development roles at Celine, Louis Vuitton, and Zadig & Voltaire.

    Building on Heritage and Driving Growth

    Lanvin Group’s decision to appoint Werschine reflects its aspiration to capitalize on the house’s legacy while implementing a contemporary growth strategy and expediting its international expansion. With headquarters in Shanghai and Milan, Lanvin Group controls a range of luxury brands, including Lanvin, Wolford, Sergio Rossi, and St John Knits.

    The executive shift comes amid the group’s navigation of a challenging luxury market. Lanvin Group registered a revenue of €240.5 million (US$277.4 million) from continuing operations for FY25, marking a 17.6% decrease year-on-year. The group attributed this downturn to reduced consumer demand and continued instability in primary markets.

    The group earlier this year strategically divested the Italian luxury menswear brand Caruso. This was a step towards streamlining focus on its core brands and enhancing operational efficiency in the face of persistent instability in the global luxury sector.

    Questions & Answers

    Who is the new CEO of Lanvin?
    Barbara Werschine has been appointed as the new CEO of Lanvin.

    What are the responsibilities of Barbara Werschine in her new role?
    Werschine will be in charge of Lanvin’s strategic direction, leading its international expansion and efforts to enhance the brand’s presence in the global luxury market.

    Why did Lanvin Group’s revenue decrease in FY25?
    The decrease in revenue was due to weaker consumer demand and ongoing market volatility.

  • Lanvin Takes Strides Towards Stability in Q2 Despite Falling Sales: The Power of Restructuring Examined

    Lanvin Takes Strides Towards Stability in Q2 Despite Falling Sales: The Power of Restructuring Examined

    In the words of Zhen Huang, Chairman, Lanvin experienced a steadier second half following a tumultuous year where restructuring efforts started to show promise. Sales for the brand itself, however, observed a downturn of nearly a third.

    The Current Economic Climate and Restructuring Efforts

    Huang explained that despite the tough macroeconomic environment, the company continued to simplify its operations and bolster the long-term position of its brands.

    The luxury conglomerate, a parent to brands like Lanvin, Wolford, Sergio Rossi, and St John, clocked in a full-year revenue of US$281 million, witnessing an 18% dip compared to the previous year.

    This decrease in revenue mirrored a weakened demand in key markets, including EMEA and Greater China. This was also a result of ongoing plans such as shutting down stores and undertaking renovations.

    The gross profit stood at $164 million, yielding a margin of 58%. Meanwhile, the adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss slightly reduced to $105.5 million.

    Performance of Individual Brands

    Among all the brands under the group’s umbrella, Lanvin saw the most significant decline with a 30% drop in revenue, which amounted to $68 million.

    Wolford followed suite with a 14% dip in revenue, amounting to $89.1 million. However, the company noticed an uptick in performance in the second half of the year, backed by a robust product inventory and a 19% surge in wholesale revenue.

    Sergio Rossi also experienced a decline in revenue by 30%, bringing it down to $35.2 million.

    Contrarily, St John demonstrated resilience as its revenue experienced a minor 1% drop, amounting to $91.5 million. The brand saw growth in the North American region and an increase in wholesale and e-commerce sales.

    Huang expressed optimism regarding the upward momentum observed in the second half of the year and remained hopeful about the group’s ability to yield sustainable growth over time.

    Questions & Answers

    What was the full-year revenue of the luxury group?
    The group reported a full-year revenue of US$281 million.

    Which brand under the group’s umbrella recorded the sharpest decline in revenue?
    Lanvin recorded the sharpest decline in revenue with a 30% fall.

    Which brand proved to be more resilient and saw growth?
    St John demonstrated resilience by maintaining its revenue with only a 1% drop and experiencing growth in North America with stronger wholesale and e-commerce sales.

  • Siddhartha Shukla Exits Lanvin: A Shift in Luxury Fashion Leadership Amid Market Volatility

    Siddhartha Shukla Exits Lanvin: A Shift in Luxury Fashion Leadership Amid Market Volatility

    Siddhartha Shukla is set to leave his position as deputy CEO of the high-end fashion label Lanvin after a four-year tenure. Shukla, who has extensive experience in the luxury industry, joined Lanvin towards the end of 2021 with a vision to assist in the brand’s transition.

    Shukla’s Background

    Prior to his role at Lanvin, Shukla held the position of chief brand officer at the prestigious US label, Theory. His expansive career also includes over ten years at notable fashion houses such as Gucci and Saint Laurent.

    Lanvin’s Leadership

    In the wake of Shukla’s departure, Lanvin Group, the parent company of the fashion brand, announced that Andy Lew, the group’s executive president and Lanvin’s chairman and CEO, will continue to maintain control of the brand and its strategic aspirations.

    Leadership Changes Within the Group

    The exit of Shukla is the latest in a series of leadership changes within the group. Recently, Mandy West was designated as CEO of women’s clothing brand St John Knits, and Marco Pozzo took on the role of CEO at Wolford.

    Strategic Decisions

    Additionally, the group has taken significant strategic steps towards focusing on its central brands, primarily due to the ongoing fluctuations in the luxury market. This includes the divestment of the Italian menswear label Caruso, which was sold to MondeVita Italy, a subsidiary of the Mondevo Group.

    Recent Financial Performance

    In terms of fiscal performance, the group experienced a downturn in the first half, noting a 22% decline in revenue. The Lanvin brand, in particular, witnessed the most considerable decrease, with a fall of 42%.

    Questions & Answers

    Why is Siddhartha Shukla leaving Lanvin?
    The specific reasons for Siddhartha Shukla’s departure from Lanvin have not been disclosed.

    Who will take over Shukla’s responsibilities at Lanvin?
    Andy Lew, the group’s executive president and Lanvin’s chairman and CEO, will continue to oversee the brand and its strategic ambitions.

    How has Lanvin’s financial performance been recently?
    In the first half of the fiscal year, Lanvin’s revenue saw a significant decrease of 42%.

  • Lanvin Group Sharpens Focus with Strategic Spin-off of Italian Luxury Brand Caruso

    Lanvin Group Sharpens Focus with Strategic Spin-off of Italian Luxury Brand Caruso

    The Lanvin Group has recently completed the strategic divestment of the Italian luxury menswear brand, Caruso. This move is a part of the group’s plan to concentrate on their primary brands, especially in light of the ongoing instability in the luxury market.

    Caruso has now been procured by MondeVita Italy, which is a constituent of the Mondevo Group based in Abu Dhabi. This marks the end of the Lanvin Group’s proprietorship of the esteemed tailoring house. The financial details related to this transaction have not been made public.

    Caruso: A Brief Overview

    Caruso, established in 1964 and based in Soragna, Italy, is famed for its superior tailoring skills and manufacturing proficiency. The brand primarily functions through wholesale channels and has chosen retail collaborations across Europe, Asia, and the U.S.

    Lanvin Group’s Alignment With Broader Strategy

    The Lanvin Group has stated that this divestment is in agreement with its expansive strategy to streamline operations and channel resources towards its fundamental luxury labels. This transaction is part of a larger restructuring endeavor aimed at enhancing operational efficiency and boosting long-term profitability.

    The Fosun Group, which has recently rebranded itself as the Lanvin Group, became the principal shareholder of Caruso in 2017 through a capital increase. This was subsequent to its acquisition of a 35 per cent stake in 2013.

    In the early part of the previous year, the group, which is based in China, reported a substantial drop in annual sales whilst continuing to put its revitalization strategy into action.

    Questions & Answers

    What is the Italian luxury menswear brand that Lanvin Group has divested?
    The brand is Caruso, an esteemed tailoring house established in 1964 and known for its superior tailoring skills and manufacturing proficiency.

    Who has now acquired Caruso?
    Caruso has been procured by MondeVita Italy, a subsidiary of the Mondevo Group based in Abu Dhabi.

    What is the reason behind Lanvin Group’s divestment of Caruso?
    This divestment is part of the Lanvin Group’s strategy to streamline operations and focus resources on their core luxury labels, amidst ongoing market instability.

  • Lanvin leader David Chan to step down this month

    Lanvin leader David Chan to step down this month

    David Chan, the executive president and chief financial officer of Lanvin Group, has announced his decision to step down from his position effective October 27. While he plans to explore fresh opportunities, Chan is also slated to provide advisory support during the transition period. His successor, however, remains to be declared.

    Zhen Huang, the chairman of Lanvin Group, acknowledged Chan’s valuable contributions to the company. “His remarkable contributions have played a crucial role in charting the strategic course and transformational initiatives of the group,” remarked Huang. He further added, “As he embarks on his new journey, we extend our best wishes for his continued success.”

    Despite the departure of Chan, who served as the executive president since the company’s inception, the Lanvin Group remains confident about its future potential. In addition to the high-profile responsibilities handled by Chan, including mergers and acquisitions, brand operations, and performance management, he was also instrumental in the strategic planning and leadership recruitment across the group’s portfolio. Huang reaffirmed, “Lanvin Group continues to stand strong with plans to sustain growth and create enduring shareholder value.”

    Established in Shanghai and jointly headquartered in Milan, Lanvin Group is supported by Fosun International. It commands a strong brand portfolio, which includes names like Lanvin, Wolford, Sergio Rossi, and St John Knits.

    Questions & Answers

    Why is David Chan leaving Lanvin Group?
    David Chan is stepping down from his role at Lanvin Group to pursue new opportunities. He will continue to serve in an advisory capacity during the transition period.

    Who will succeed David Chan as the executive president and CFO of Lanvin Group?
    The successor to David Chan has not been announced yet.

    What impact has David Chan had on the Lanvin Group?
    David Chan has been instrumental in shaping the strategic direction of Lanvin Group since its inception. He has overseen a wide range of responsibilities, including mergers and acquisitions, brand operations, strategic planning, leadership recruitment, and performance management across the group’s portfolio.

  • Luxury Giant Lanvin Group Experiences 22% Revenue Drop Amid Global Luxury Demand Downturn

    Luxury Giant Lanvin Group Experiences 22% Revenue Drop Amid Global Luxury Demand Downturn

    Lanvin Group, which houses well-known luxury brands such as Lanvin, Wolford, Sergio Rossi, St John, and Caruso, recorded a decrease in revenue during the first half of the year. The group reported US$155.6 million in revenue, marking a 22% drop in comparison to the previous year. The drop was largely attributed to a global decrease in luxury demand.

    Impact on Sales

    The group’s sales were negatively influenced by a decline in wholesale performance in both EMEA (Europe, the Middle East, and Africa) and Greater China. Market pressures also contributed to the decline. Nevertheless, Lanvin Group expressed optimism, noting the positive impact of disciplined cost management and efficiency measures.

    The group achieved a gross profit of $84.2 million, with a profit margin of 54%. This was supported by efficient inventory management during a period of creative transition. Zhen Huang, chairman of Lanvin Group, stated that the group remained disciplined in cost management and strategic streamlining, despite a challenging luxury market in the first half of the year.

    Individual Brand Performance

    Among the brands under the Lanvin Group, Lanvin experienced the most significant decline, with revenue dropping by 42%. This was primarily due to a lack of enthusiasm from wholesale partners in EMEA. Still, the brand reported resilience in the region’s retail sector and noted progress in the Asia-Pacific region. Lanvin also reported a strong rebound in North American e-commerce, thanks to a new marketplace model.

    Wolford revenue declined by 23%, but wholesale sales rose by 14%. Lower production utilization and inventory clearance impacted the gross margin, but cost-saving measures helped cut general and administrative expenses by 18%.

    Sergio Rossi saw a 25% decrease in sales, with direct-to-consumer revenue and wholesale declining by 21% and 33% respectively. The gross margin narrowed by nine percentage points, but an improved second quarter saw retail sales increase by 17% and e-commerce sales increase by 10% compared to the previous quarter.

    St John maintained steady revenue, with a 4% growth in North America and an 11% increase in wholesale. The brand also managed to maintain a 69% gross margin and an 11% contribution margin.

    Caruso experienced an 11% decline in revenue, primarily due to a temporary slowdown in its Maisons business.

    Strategic Measures for Improvement

    Andy Lew, the executive president of the group, indicated that going forward, they plan to refine their retail footprint, strengthen wholesale partnerships, and invest in new creative leadership to drive growth in the second half of the year.

    Furthermore, the group intends to maintain operational discipline while focusing on future growth. By incorporating fresh creative direction across all their brands, supported by targeted marketing and refined channel strategies, they aim to build brand momentum and increase consumer engagement.

    Questions & Answers

    What was the total revenue reported by Lanvin Group in the first half of the year?
    The group reported a revenue of US$155.6 million.

    Which brand under the Lanvin Group experienced the most significant revenue decline?
    Lanvin brand experienced the sharpest revenue decline at 42%.

    What are some of the strategic measures the group plans to implement in the second half of the year?
    The group plans to refine its retail footprint, strengthen wholesale partnerships, and invest in new creative leadership. In addition, the group aims to maintain operational discipline, introduce fresh creative direction across their brands, and enhance marketing and channel strategies.

  • Lanvin Group Reports 22% Revenue Decline Amid Global Luxury Market Softening

    Lanvin Group Reports 22% Revenue Decline Amid Global Luxury Market Softening

    The luxury fashion conglomerate, Lanvin Group, which houses brands such as Lanvin, Wolford, Sergio Rossi, St John, and Caruso, has reported a decline in first-half revenue to US$155.6 million. This figure represents a 22% decrease compared to the same period last year due to the softening global luxury demand.

    Market Pressures and Cost Management

    The group cited several factors that contributed to the decrease in sales, one of which was weaker wholesale in the EMEA region and Greater China. However, disciplined cost management and efficiency measures have begun to show positive impacts. Despite these challenges, the group’s gross profit stood at $84.2 million, maintaining a margin of 54%, aided by precise inventory management during a challenging period of creative transition.

    Zhen Huang, the chairman of Lanvin Group, stated, “Despite facing a challenging luxury market in the first half, we remained disciplined in cost management and strategic streamlining. With new creative leadership and ongoing investment in product innovation, we are well-positioned to capture opportunities as the market environment improves.”

    Individual Brand Performance

    Lanvin saw the most significant drop in the group, with its revenue down by 42%, as wholesale partners in EMEA were more restrained. The brand noted some resilience in the retail sector in the same region and that its North American e-commerce platform showed strong recovery under a new marketplace model.

    Wolford’s revenue declined by 23%, although its wholesale sales rose by 14%. The brand’s gross margin was affected by lower production utilization and inventory clearance, but the company managed to cut general and administrative expenses by 18% under cost-saving measures.

    Sergio Rossi’s sales fell by 25%, with direct-to-consumer revenue down by 21% and wholesale sliding by 33%. It managed, however, to show some progress in Q2, with retail sales up by 17% and e-commerce climbing 10% from the previous quarter.

    St John maintained a stable performance, with revenues remaining broadly flat. The brand sustained a 69% gross margin and an 11% contribution margin.

    Caruso saw an 11% decline in its revenue, primarily due to a temporary slowdown in its Maisons business.

    Adjusted EBITDA for the period was a negative $60.8 million, reflecting the lower revenue. This figure was less favorable than the negative $49.1 million reported for the previous year.

    Future Plans

    Andy Lew, the group’s executive president, stated that the group plans to refine its retail footprint in the future, strengthen wholesale partnerships, and invest in new creative leadership to drive momentum in the second half of the year. “Our focus in the first half was on operational discipline and laying the foundation for future growth. We expect to build brand momentum and increase consumer engagement in the second half with fresh creative direction across our houses, supported by targeted marketing and refined channel strategies.”

    Questions & Answers

    What factors contributed to Lanvin Group’s decline in revenue?
    Answer: The decline in revenue was primarily due to weaker wholesale in the EMEA region and Greater China, along with general market pressures.

    Which brand in the Lanvin Group saw the most significant drop in revenue?
    Answer: Lanvin reported the most significant drop in revenue, with a decrease of 42%.

    What are Lanvin Group’s plans for the future?
    Answer: The group plans to refine its retail footprint, strengthen wholesale partnerships, and invest in new creative leadership to drive momentum in the second half of the year.

  • China’s Fosun makes bid for Tom Tailor

    China’s Fosun makes bid for Tom Tailor

    Hong Kong-listed Chinese trading group Fosun has launched a Tom Tailor takeover bid. Fosun has long held a cornerstone stake in the German-listed fashion retailer, which has several thousand stores, franchises and shops-in-shops around the world, trading under its own name selling men’s and women’s fashion and under the womenswear label Bonita. Its core markets are Germany, Austria, Switzerland, Southeastern Europe and Russia.

    Fosun said in a stock exchange filing that the Tom Tailor takeover bid follows an increase in its shareholding which will take its stake above the 35 per cent level which triggers a mandatory takeover offer under German law.

    In a statement, Fosun said it would benefit from the target company’s long-term growth potential.

    “The company considers the transaction to be an attractive investment in its sector as it sees economic potential in Tom Tailor.”

    Founded in Hamburg in 1962, Tom Tailor has encountered challenges in recent years. Its share price has plunged 80 per cent since January last year.

    The company focuses on mid-priced casual wear for men, women and children, accessories, and home textiles.

    Fosun has been expanding its interests in Europe in recent times, acquiring Lanvin last year, along with Austrian luxury lingerie brand Wolford. It also has a stake in menswear label Caruso.

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  • Lanvin names Bruno Sialelli as its new creative director

    Lanvin names Bruno Sialelli as its new creative director

    Luxury fashion house Lanvin announced the appointment of Bruno Sialelli to the role of creative director. A relative unknown in the fashion world, Sialelli has worked for other luxury companies including most recently, Loewe, where he was head of menswear, under the guidance of the Spanish company’s creative director, Jonathan Anderson. Chinese conglomerate Fosun, who acquired Lanvin in 2018, said that the 31-year-old Frenchmen was hired to take the company in a “pivotal new direction,” a crucial call for the world’s oldest couture house.

    Lanvin’s chief executive Jean-Philippe Hecquet harmonised the sentiment.

    “We’re thrilled to welcome Bruno as the new creative director of Lanvin,” commented Hecquet. “His singular and very personal vision, his audacity, his culture, his energy and ability to build a strong creative team definitely convinced us. I can’t wait to discover Bruno’s first collections which will fully bring back to life this beautiful and unique fashion house, and once again inspire a passion among our customers.”

    In what has been a rollercoaster of a ride for the high-end French brand, Sialelli will take the top design spot as the fourth creative director to work at Lanvin in just four years.

    In 2015, Lanvin announced the shock departure of the label’s acclaimed designer Alber Elbaz, who was let go after disagreements with its previous owner, Taiwanese media magnate Shaw-Lan Wang. Elbaz had worked as Lanvin’s creative director for 14 years prior.

    Since then, it has been a tough slog for the 130-year-old company, which at its peak in 2012, was reportedly made 235 million euros, but sales have been steadily dropping ever since.

    In 2016, Lanvin reported a massive 18.3 million euro loss, after ten years of profitability.

    Following Elbaz’s departure, Bouchra Jarrar joined Lanvin, but quit as creative director after just a year-and-half, making way for Olivier Lapidus, who also quit, making way for Siaelli, the brand’s ray of hope.

    Before coming to Lanvin, Sialelli has also held design roles at brands like Paco Rabanne and Balenciaga. He is a fashion graduate of Studio Berçot in Paris.

  • Lanvin creative director departs the company

    Lanvin creative director departs the company

    Lanvin has announced the departure of its menswear creative director, Lucas Ossendrijver, adding to a turbulent few years for the French label. Appointed under the mentorship of former creative director Alber Elbaz, Dutch designer Ossendrijver served as the creative chief of the 129-year-old brand’s menswear department for 14 years.

    Elbaz, creative director of Lanvin’s women’s wear since 2001, left the house in October 2015 after falling out with majority shareholder Shaw-Lan Wang over the direction of the brand.

    In February this year, Wang sold the title to Chinese conglomerate Fosun International.

    French designer Bouchra Jarrar, who was Elbaz’s replacement, left Lanvin after just 16 months before her successor, Olivier Lapidus, stepped down after only eight months.

    Bruno Sialelli, former head of Loewe menswear, is reported to the front runner to replace Ossendrijver.

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  • Fosun International hits $1bn in net profit

    Fosun International hits $1bn in net profit

    Fosun International post on Tuesday that company net profit reached Rmb 6.86bn ($1bn) for the first half of 2018, on the back intense acquisition activity, which saw the Chinese firm snap up local and international assets, including luxury brand Lanvin earlier in the year.

    The Chinese investment firm said net profit increased 17% over the last six months, which was slower than previous years, however, with a 33.6% uptick recorded for the first half of 2017.

    Revenue reached RMB43.51 billion for the January to June period, an increase of approximately 20% over the same period last year.

    The company said it “continued to focus on maintaining a healthy and stable balance sheet” and achieved a net gearing ratio of 53.6% with an overall financing cost of 5.18%.

    Since the turn of 2018, Fosun has bought a stake in French confectionery company St Hubert, a minority stake in China’s Tsingtao Brewery and majority stakes in European luxury brands Wolford and Lanvin.

    Fosun’s long-term portfolio also includes Club Med, a stake in Cirque du Soleil and the UK’s Wolverhampton ‘Wolves’ football team.

    Co-founded by Chinese billionaire Guo Guangchang in 1992, Fosun has evolved from an entrepreneurial start-up into a leading investment group taking roots in China with a global foothold.

    Listing on the Shanghai Stock Exchange in 2007, Fosun now forms part of Chinese active investor cohort, which also boasts the firms HNA, Dalian Wanda and Anbang Insurance.

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  • Fosun International reportedly acquires Lanvin

    Fosun International reportedly acquires Lanvin

    Fosun International has purchased Paris fashion brand Lanvin for more than 100 million euros, two sources close to the matter have revealed to the French fashion press.

    Sources revealed to FashionNetwork.com late Friday that the Chinese group would acquire France’s oldest fashion maison, beating out Qatar’s Mayhoola, winning the auction-style fight for Lanvin that has been ongoing for some weeks.

    “Fosun has won Lanvin and an announcement should be made this week,” one of the sources said.

    The deal will see Fosun International invest more than 100 million euros in Lanvin with the company issuing new shares to its new controlling shareholder.

    Current majority shareholder Shaw-Lan Wang, the Chinese, Taiwan-based entrepreneur, who goes by Madame Shaw, will remain a minority shareholder alongside Swiss German entrepreneur Ralph Bartel, who had to increase his stake in Lanvin to do so. It remains unclear how much of the cash will go to Madame Shaw.

    “It is a surprising decision,” one of the sources said. “This is a complex affair, many will be watching how Fosun handles it.”

    It’s a blow to Mayhoola’s portfolio also. The owner of Valentino and Balmain has been eyeing Lanvin for a decade now.

    Sales at Lanvin have more than halved in the past three years to less than 100 million euros as the French fashion house struggled to reinvent itself under two successive designers in a desperate attempt to find the right strategy after sacking its star designer Alber Elbaz in 2015.

    Owned by Shanghai billionaire Guo Guangchang, Fosun International already has investments in luxury companies, namely French holiday operator Club Med and knitwear band St. John in the United States. It also has stakes in insurance and trading companies.

    It was reported in September last year that the Chinese investor was also in the running to purchase Swiss luxury brand Bally. However, it was announced this week that fellow Asian investor Shangdong Ruyi, the Chinese group that also controls SMCP and Aquascutum, has acquired Bally.

    Lanvin, Fosun International and Mayhoola were unavailable to make a comment on the news.

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  • More investment for Lanvin

    More investment for Lanvin

    With slumping sales since a design shake-up two years ago, Lanvin fashion house is expecting a cash injection before the end of the year.

    France’s oldest fashion house says this is coming from Taiwan businesswoman Shaw-Lanh Wang, who is the majority shareholder.

    Auditors at the privately owned firm have filed a warning with a commercial court in Paris over its financial troubles, Reuters has reported. Sources say recapitalisation is needed to buy breathing space and to save it struggling to pay salaries in January.

    Lanvin says it is working on a new strategy and that Wang, a Chinese-born media magnate who owns 75 per cent of the firm, will put in more money. No further details have been released by the company, which does not publish earnings.

    The funds will be used to back future projects to help reposition Lanvin, says the firm.

    Dating back to 1889, the company was named after couturier Jeanne Lanvin and had a revival a few years ago under designer Alber Elbaz. Sales fell following his surprise sacking in 2015, being forecast to deepen this year by another 30 per cent after a 23 per cent drop last year.

    Wang’s close adviser Nicolas Druz, who has just been appointed deputy-MD, says Lanvin is looking at branching into new avenues such as “art of living” products. The label may also look at hotel projects using the Lanvin name.

    “It’s not just about new capital – we’re thinking about other revenue streams too,” Druz says.

    Lanvin is on its second designer since Elbaz, appointing former Balmain menswear designer Olivier Lapidus to the position in July.

  • Lanvin opens menswear store in Kuala Lumpur

    Lanvin opens menswear store in Kuala Lumpur

    Lanvin has opened its first flagship store in Malaysia, with an emphasis on the French maison’s men’s fashion and women’s accessories collections.

    Located at the Pavilion in Kuala Lumpur, the store covers 2040 square feet of floor space and is situated on level 2 of the prestigious mall.

    The store features Lanvin’s signature retail design accenting sleek interiors with cream-coloured shelves and marble floors, largely minimalist with an emphasis on the high-end clothing and accessories.

    Focused on Lanvin’s male customer, the shop boasts a range of men’s formalwear, black tie suiting, casualwear, as well as a skater and sneaker offerings from Lanvin’s Pre-Fall Collection.

    For women, Lanvin Kuala Lumpur also carries the latest women’s accessories including bags and leathergoods. It has not been disclosed if the French luxury brand has plans to open a women’s store in the Malaysian capital.

    Lanvin retail sales have faced difficulty the past two years ever since the house’s Taiwanese owner Madame Shaw abruptly sacked Alber Elbaz, its long-serving and critically acclaimed creative director.

    Shaw appointed Bouchra Jarrar, but the new designer head failed to turn fashion into revenues in her sixteen-month tenure.

    In a turnaround move last week, Lanvin named Olivier Lapidus to be its new artistic director, replacing Jarrar just four days after she was fired.

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  • Bouchra Jarrar to leave Lanvin

    Bouchra Jarrar to leave Lanvin

    Bouchra Jarrar is to leave her role as artistic director at Lanvin after just 16 months. Jarrar succeeded Alber Elbaz, who left the brand after 14 years in October 2015 following disagreements with its Taiwan-based Chinese owner, Shaw-Lan Wang.

    Jarrar, a talented couturier who shuttered her namesake house to focus on Lanvin, and was last week made an Officer of the Order of Arts and Letters, one of France’s highest honours, has been unable to single-handedly revive the brand, which has suffered from falling revenues amidst a lack of investment since the days of her predecessor.

    “I have pressure,” she admitted in a March interview with the South China Morning Post. “I wanted to dedicate my whole self to Lanvin, to relaunch the maison and brand, so I shut my own label down… But I need the whole house’s support; alone it’s impossible.”

    Meanwhile, her minimal, tailored aesthetic was a departure from Elbaz’s much-loved draped eveningwear, and a new direction was always going to take time to resonate with consumers in a way that came anything close to what Elbaz achieved in his 14-year tenure. “That personal connection that Alber fostered between the brand and the audiences was deep,” said Caroline Issa, chief executive and fashion director of Tank magazine, in a September interview with BoF.

    Ultimately, initial sell-through has been underwhelming, and in June Lanvin reported a 23 percent fall in revenue for 2016, down to €162 million after a net loss of €18.3 million. By comparison, in 2015 it reported a profit of €6.3 million, and in 2012, at the label’s peak, revenues were reported at €235 million.

    The news of Jarrar’s departure follows a catalogue of issues at Lanvin. The company is said to have appointed advisory firm Long Term Partners to conduct an audit and recommend ways to reduce the company’s costs, prompting rumours of layoffs.

    Founded in 1889, Lanvin is one of France’s last major independent fashion brands. Wang, who became the brand’s controlling shareholder in 2001, has been reluctant to invest in the brand for many years. According to reports, she would not let her associate Swiss investor Ralph Bartel, who owns 25 percent of Lanvin, inject more cash into the business to support the brand as it would dilute her stake.

    “He disagrees with the options chosen by the management and wants an urgent change in strategy,” a source told Reuters of Bartel.

    Updated 7:45pm GMT on 6th July, 2017:

    In a statement issued to press Thursday evening, Lanvin confirmed Bouchra Jarrar’s departure. It read:

    Lanvin and Bouchra Jarrar have mutually decided to put an end to their collaboration. This decision is effective as of today. Madame Wang wishes to thank Bouchra Jarrar who since her arrival brought her talent to serve the company. Bouchra Jarrar thanks Madame Wang for her trust. She wishes most particularly to acknowledge the work of the teams with who she collaborated to express creativity and French know-how. Bouchra Jarrar will now concentrate on new projects.

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