The group’s new visual identity comes after last month’s fundraising round in which it raised around $ 150 million and called on Japanese-based Itochu Corporation, a trade and textiles company, as strategic investors, and Chinese high-end shoe maker Stella International, as well as a private equity firm. Capital of Xiji.
Cheng wants to use this investment to strengthen the group’s presence in the United States as well as in China where its penetration rate is low (only 10 percent of revenues come from China, she says). It plans to optimize an omnichannel approach by partnering with platforms such as Farfetch and strengthen its digital team by recruiting more experts in key regions. Brick and mortar will not be left out: “A physical presence in retail remains very important to maintain the image of luxury brands. We want to open at least five or six more for each brand in the world over the next year. “
The Lanvin Group is also actively seeking new acquisitions. While past investments have mainly been in “iconic brands with a strong history and identity,” Cheng is keen to explore new categories, such as sports and beauty, and also considers fashion technology companies as possible targets.
What the experts say
Experts are optimistic about the emergence of a Chinese luxury group. “It seems that they are really positioning themselves to take on the big European competitors like Kering and LVMH and that they are starting to strategically build a portfolio of luxury brands,” explains Thomai Serdari, professor of fashion and luxury marketing at the New York University. “I think we’ll see more acquisitions in the near term, which is exciting because I would like to see global competition. Luxury has concentrated in Europe and we are witnessing a reshuffle of the landscape.
It is a Chinese-owned company with a European name – strategically deemed a good move by brand consultants. “By taking advantage of ‘Lanvin’, which is a French name, they are entering the world of luxury. Even the sound of the name is French and there is this immediate link with luxury rather than with another Asian group, ”observes Ana Andjelic, brand consultant and author of The company of aspiration. “It looks like they’re turning a corporate entity into a luxury entity, something with a legacy, a story, and a story, and that’s really smart.”