The fashion group, which owns brands including Lanvin, Sergio Rossi, St. John Knits and Wolford, will be listed on the New York Stock Exchange following a deal to join forces with Primavera Capital Acquisition Corporation, a listed special purpose acquisition company (SPAC) and affiliate of Primavera Capital Group.
Lanvin Group, which rebranded from Fosun Fashion Group last October, said the deal gives it a pro forma enterprise value of $1.5 billion, with a combined pro forma equity value of up to $1.9 billion. Total proceeds are expected to be $544 million, a war chest that will be used partly to fund further acquisitions.
“We plan to accelerate the growth of our portfolio via both organic development and disciplined acquisitions, building a global portfolio of iconic luxury fashion brands that appeal to a broad customer base. Lanvin Group will not only enable these brands to flourish in their home countries, but also in Asia and North America, the largest luxury markets in the world,” said Joann Cheng, chairman and chief executive of Lanvin Group.
Though the group said its focus remains on acquiring high-end heritage brands, this year it also plans to launch an incubator project dedicated to minority investments in fast-growing companies that are strong creatively or digitally, as well as those with a focus on sustainable and intelligent supply chains.
Lanvin Group’s current stable of brands operate in more than 80 countries with approximately 1,200 points of sale worldwide.
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The Chinese firm that owns Lanvin, Sergio Rossi, St. John Knits and Wolford could be eyeing an IPO after recently rebranding as Lanvin Group.
