Paris: nerves abound at first Lanvin show under Chinese owner

Lanvin, the oldest surviving house in French fashion, took to the Paris catwalk on Wednesday for its first outing since being bought by Fosun, the Chinese conglomerate that also owns Club Med.

The deal is significant at Paris fashion week, where most heritage brands are still owned by French-based groups. It is the highest-profile fashion acquisition to date for the Chinese group, which also owns a stake in the American firm St John Knits. Fosun has assets estimated at $75bn (£54bn), and is expected to invest about €100m (£88m) in a bid to restore the house, founded by Jeanne Lanvin 129 years ago, to its former glory.

The high-stakes financial dealings, alongside the knowledge that his predecessor Bouchra Jarrar was removed from the role after just two collections, made for a nervy context for current designer Olivier Lapidus’s second seasonal collection at the Place Vendôme.

Lapidus was appointed by Lanvin’s outgoing owner, Shaw-Lan Wang, with whom he is close, and his days may be numbered under the new regime. Many at the house still mourn the departure of Alber Elbaz, who was ousted from Lanvin in 2015 after 14 years when sales began to slide. Elbaz gave Lanvin a female-friendly, easy-to-wear sophistication that was adored by critics and pioneered an influential new wave of grown-up womenswear, but never came up with the “It” handbag that would have provided financial security.

Source: theguardian