Stories on fashion and luxury you won't read elsewhere

Lanvin Group IPO not yet in the bag

By Astrid Wendlandt
Lanvin Group IPO not yet in the bag
Shanghai-based Lanvin Group, the fashion arm of Chinese conglomerate Fosun International, is aiming high. It wants to build “the new luxury” and obtain a valuation of more than $1.9 billion by listing in New York and merging with a special purpose acquisition company (SPAC). It is seeking to raise up to $544 million to fund its global expansion ambitions. Good luck! Lanvin Group, which owns brands Lanvin, Sergio Rossi, Wolford, St. John Knits, and Caruso, has merged with a U.S.-listed SPAC, an “easy listing” option also known as a “blank check company.” The SPAC is affiliated to Primavera Capital Group, a Chinese investment firm founded by former Goldman Sachs Greater China Chairman Fred Hu. The proposed transaction, due to take place in the second half of this year, has raised eyebrows among investors for a number of reasons.

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