China's Fosun Fashion Group rebrands as Lanvin

Stella International Holdings

11/10/2021 08:53

MILAN, Oct 11 (Reuters) - China's Fosun Fashion Group said
on Monday it would change its name to Lanvin Group, capitalising
on the reputation of one of its labels, as it tries build a
global portfolio of luxury brands. 
    Alongside French couture label Lanvin, Fosun Fashion Group
controls Italian luxury shoemaker Sergio Rossi and high-end
tailor Caruso, Austrian hosiery and underwear specialist Wolford
and American womenswear brand St. John Knits.
    Fosun Fashion Group said it would continue to explore
opportunities to invest in luxury fashion brands to accelerate
growth.
    Chinese shoppers are the biggest buyers of luxury goods
worldwide and China also has its own fashion companies. But
Chinese companies, including ones that have purchased
established European labels, have so far found it hard to take
off in Western markets.  urn:newsml:reuters.com:*:nL1N2R1137
    Fosun Fashion Group, created by Chinese conglomerate Fosun
International Limited  0656.HK  in 2017, added it had two new
strategic investors, Japanese trading conglomerate ITOCHU
Corporation  8001.T  and luxury footwear manufacturer Stella
International  1836.HK .
       

 (Reporting by Elisa Anzolin, editing by Louise Heaven)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))