A Wren Says

Lanvin, that bastion the French luxury history, may not be doing so well. The house was acquired by Fosun Fashion (now Lanvin Group). The group had plans to take Lavin, turn it into a powerhouse, and take over the Chinese market. That has not happened. Instead, Lanvin lags far behind its much younger luxury counterparts who are doing quite well in China. The new owners of Lanvin took the group public on the US stock exchange to raise capital against its debts. It was a rocky, roller coaster of a start. The company’s had already dropped by a half a billion. Behind the scenes, board members were concerned that Fosun assumed all of the decision-making and didn’t consult them. Another is the reliance on the amount of debt the group has acquired as it may affect Lanvin, the brand. And creative directors are not staying for long at the company.

Eric Young of Le Monde de SHC was quoted in Financial Times saying this about Lanvin, “The quality is still there, but they don’t have a story now.” I wonder if this is at the heart of the issues. The debt, struggles between ownership and the board, and turnover –all of it could be connected to a lack of a story. When the story of the brand is strong, it translates into company policies, public messaging, and financial decisions. When there is no agreed upon story, it shows.

I will admit. I know very little about Lanvin. All of my knowledge is based the couple of articles I read and a quick peruse of the website. Even still, I wonder how all of the pieces fit together and where the cohesion lies. Moving from the heritage of the brand to the new direction with the Lanvin Lab, what is the story the group wants to tell about the brand? How should consumers view it? Is there a clear strategy to enter the Chinese market that supports efforts in other markets? How these questions are answered will reveal the strength of the brand story.

Sources consulted

Biondi, A. (December 7, 2022). Fosun-owned Lanvin’s future hangs by a thread. Financial Times. https://www.ft.com/content/fd6ec3b0-95ef-4bd4-bca7-0605dcd4aa30

Clark, E. (December 15, 2022). Lanvin Group’s roller-coaster Wall Street introduction. WWD. https://wwd.com/business-news/financial/lavin-group-primavera-ceo-joann-cheng-stock-exchange-1235450721/