The transaction is valued at ভ 1.5 billion by Lanvin Group’s Pro Forma Enterprise, with a combined Pro Forma equity value of up to $ 1.9 billion, the companies said in a joint media release.
Through business coordination, Lanvin Group, founded by Fosun International Limited in 2017, expects Primavera’s extensive network and insights into the consumer sector, including a strong balance sheet, to create long-term sustainable value throughout its portfolio. And to catalyze growth with further acquisitions.
The Lanvin Group, a global luxury fashion group, and Primavera Capital Acquisition Corporation (PCAC), have entered into a specific business merger agreement that is expected to list the Lanvin Group on the NYSE under the ticker symbol ‘LANV’. PCAC is a special purpose company listed on the NYSE and is an authorized company of Primavera Capital Group.
Joan Cheng, Chairman and CEO of Lanvin GroupSays: “We are excited to partner with Primavera for our next chapter of growth across Europe, North America and Asia. As investors, each of these partners is uniquely qualified to drive growth, enhance our brand performance and help unlock the full potential of new markets. We both plan to accelerate the growth of our portfolio through organic development. Creating that appeals to a wider customer base, Lanvin Group will enable these brands to develop not only in their own country, but also in Asia and North America, the world’s largest luxury market. “
Max Chen, Chairman, CEO and CFO of PCAC and partner of Primavera“We strive to support an emerging leader in the consumer sector with sustainable global appeal and significant growth potential in Asia. At Lanvin Group, we see a rich tradition, an entrepreneurial management team and a unique global business. A luxury for a new generation of consumers.” Different strategies for building powerhouses, especially in Asia, benefit from increased luxury spending. The Lanvin Group and Primvera share the same vision of nurturing and reviving world-class luxury brands. We look forward to working together for further development. The Lanvin Group Global Platform And its brand is growing across the portfolio. “
Fibre2Fashion News Desk (KD)