Newly Listed Lanvin Leaves Investors Blowing Hot and Cold

The China-owned luxury company’s shares have gyrated wildly since completion of its SPAC listing in mid-December, losing more than half their value at one point Key Takeaways: By Doug Young Once investor darlings, luxury goods companies with an emphasis on China have become just the opposite these days. Last week we reported on the latest woes at Secoo (SECO.US), whose stock once soared on its billing as China’s biggest luxury e-commerce company, but now trades at a tiny fraction of its IPO price. Now, the newly listed Lanvin Group Holdings…

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FAST NEWS: SPAC Shareholders Approve Lanvin Listing Plan

The Latest: Lanvin Group, the luxury retail arm of Fosun International (0656.HK), announced on  Monday that shareholders of Primavera Capital Acquisition Corp. (PV.US) have approved a reverse merger plan that will allow Lanvin to list on the New York Stock Exchange. Looking Up: The approval paves the way for Lanvin’s shares to start trading on the New York Stock Exchange on Dec. 15 under the ticker symbol “LANV.” The listing, using a special purpose acquisition company (SPAC), will give Lanvin a fundraising platform for its future expansion. Take note: Lavin’s…

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Lanvin Nears Completion of U.S. SPAC Listing. Now the Work Begins

The luxury arm of debt-challenged financial conglomerate Fosun looks set to complete its New York listing by year-end, with an aim of breaking even by 2024 Key Takeaways: Lanvin Group’s plan for a SPAC listing has moved a step closer to completion with the setting of a Dec. 9 vote on the deal by the SPAC’s shareholders The company recorded impressive overall revenue growth in the first half of this year, but results were less stellar for the important Greater China market By Trevor Mo As the debt-strapped Fosun International…

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Fosun’s Luxury Dream Advances as Lanvin Group Nears New York Listing

Financial conglomerate’s recently formed luxury group, whose brands include Sergio Rossi and St. John Knits, says it expects to complete a SPAC listing by year-end Key Takeaways: Fosun’s Lanvin Group of luxury brands said it expects to complete a SPAC listing in New York by the end of this year Company reported 339 million euros in revenue last year, and aims to triple that by 2025 through acquisitions and big growth in China and North America By Doug Young Just days after we wrote about a company whose plan to…

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China Offers Up Luxury Investment With Lanvin Backdoor Listing Plan

Local private equity giant Fosun says it will use a SPAC to list Lanvin, whose brands also include St. John Knits, Sergio Rossi and Wolford Key Takeaways: Chinese private equity giant Fosun will list its Lanvin luxury goods unit in the U.S. using a SPAC backed by Primavera Capital, another major Chinese private equity company Lanvin is currently losing money, but Fosun believes the company can become profitable by 2024 if it meets its aggressive growth projections By Doug Young Watch out, world. China is entering the global race for…

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