Fashion
China's European Fashion Habit Moves to the Boardroom
- Fosun takes control of oldest French fashion house, Lanvin
- SMCP owner Shandong Ruyi says it wants to be Chinese LVMH
As China’s shoppers power growth for European luxury brands, Chinese companies want to bring home some of the profits along with their Prada loafers.
Fosun International Ltd. acquired a majority stake in French fashion house Lanvin for an undisclosed sum, the Shanghai-based group said Thursday. It’s the latest in a series of moves by Chinese companies to snap up iconic European names, ranging from Bally handbags to Baccarat Champagne flutes.