It’s been a challenging couple of years for the luxury brand sector as it continues to adapt to erratic consumer behaviour, the blurring of channels to market, increasing international travel and the millennial luxury customer. For a handful of renowned labels, teaming up with Asian investors poses as the best strategy in ensuring continued brand development while achieving a more global and exclusive footprint. The Peak takes a look at some of the most significant acquisitions in recent years that have raised a number of well-defined eyebrows in the world of luxury retail.
Lanvin Owner Shaw-Lan Wang.
02 LANVIN
Regarded as one of the last major independent fashion labels in France, the House of Lanvin was founded in 1889 by renowned milliner turned mogul, Jeanne Lanvin. When Lanvin died in 1946, ownership of the firm was naturally ceded to her daughter Marie-Blanche de Polignac, which made Maison Lanvin the first fashion house to keep going after a founder’s death. Over the years, the maison became jointly acquired by luxury conglomerate Orcofi and cosmetics giant L’Oréal, before the latter eventually took full ownership in 1996. Five years later, Chinese media magnate Shaw-Lan Wang decided to buy over Lanvin before recruiting Alber Elbaz to breathe new life into the maison, which ultimately set it on the path back to profitability. By 2011, the maison saw a record year, with sales reaching EUR203 million. Alas, the good times were not meant to last as the artistic director eventually departed after serving for 14 years. Since then, Olivier Lapidus has been signed on as the maison’s newest creative director in an attempt to connect with a new generation. There have also been reports that Wang is considering selling her stake, but only time will tell what the future bodes for the iconic luxury French fashion house.
