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On Thursday, after an IPO that ultimately raised only $150 million, the international Lanvin group said it was aiming to acquire new houses and open numerous stores.
On Thursday, the Chinese Lanvin Group finally raised $150 million on the stock market. A smaller amount than the $544 million the Chinese luxury fashion conglomerate had planned to raise last March, through the listing via a SPAC, a special purpose acquisition company set up by Primavera Group.
On Thursday morning, however, U.S.-listed shares of Lanvin opened up about 4 % to $10.25 and more than doubled to $20.25 in early trading.
“The market has changed a lot from a year ago when we started the process. However, we still feel very happy with what we have achieved in such a challenging environment,” said group CEO Joann Cheng in an interview with Reuters.
She cited operations for the group’s brand portfolio, which includes luxury shoe maker Sergio Rossi and suit maker Caruso, as a priority for future spending.
But she also added that new acquisitions were in the works. They could include a leather goods label or a new luxury brand, with an existing footprint among younger generation consumers.
“This is the beginning of a new journey to become a billion dollar revenue group. We need to reach the next scale, but at that point, we hope to have more brands and our brand matrix will be richer than it is now,” added Joann Cheng.
The group, which was originally called Fosun Fashion Group, was renamed Lanvin Group last year. Its revenue grew 73 % year-on-year to $215 million (€202 million) in the first half of 2022.
Among its future plans is retail expansion, with plans to open 200 new stores worldwide by 2025.
Read also >Lanvin to make its debut Thursday on the New York Stock Exchange
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On Thursday, after an IPO that ultimately raised only $150 million, the international Lanvin group said it was aiming to acquire new houses and open numerous stores.
On Thursday, the Chinese Lanvin Group finally raised $150 million on the stock market. A smaller amount than the $544 million the Chinese luxury fashion conglomerate had planned to raise last March, through the listing via a SPAC, a special purpose acquisition company set up by Primavera Group.
On Thursday morning, however, U.S.-listed shares of Lanvin opened up about 4 % to $10.25 and more than doubled to $20.25 in early trading.
“The market has changed a lot from a year ago when we started the process. However, we still feel very happy with what we have achieved in such a challenging environment,” said group CEO Joann Cheng in an interview with Reuters.
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On Thursday, after an IPO that ultimately raised only $150 million, the international Lanvin group said it was aiming to acquire new houses and open numerous stores.
On Thursday, the Chinese Lanvin Group finally raised $150 million on the stock market. A smaller amount than the $544 million the Chinese luxury fashion conglomerate had planned to raise last March, through the listing via a SPAC, a special purpose acquisition company set up by Primavera Group.
On Thursday morning, however, U.S.-listed shares of Lanvin opened up about 4 % to $10.25 and more than doubled to $20.25 in early trading.
“The market has changed a lot from a year ago when we started the process. However, we still feel very happy with what we have achieved in such a challenging environment,” said group CEO Joann Cheng in an interview with Reuters.
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