Lanvin Group, a global luxury fashion group, and Primavera Capital Acquisition Corporation (PCAC) announced their entry into a definitive business combination agreement that expected to list Lanvin Group on the New York Stock Exchange (NYSE) under the ticker symbol “LANV”.
PCAC is a special purpose acquisition company listed on the NYSE and is also affiliated with Primavera Capital Group, a leading global investment firm with over $17 billion of assets under management.
The transaction values of Lavin Group at the pro forma enterprise value of $1.5 billion, with a combination pro forma equity value up to $1.9 billion.
With this partnership, Lanvin Group, established by Fosun International Limited in 2017, is expected to benefit from Primavera’s extensive networks and insights into the consumer sector.
“Today’s announcement marks another milestone in Lanvin Group’s growth journey. We are excited to partner with Primavera for our next chapter of growth across Europe, North America, and Asia. In recent years, we have not only invested in prestigious heritage brands but have also created a strategic alliance of industry-leading companies as partner and co-investors in Lanvin Group”, ─said Ms Joann Cheng, Chairman, and CEO of Lanvin Group.
She later added, “Each one of these partners is uniquely qualified to help drive growth, enhance the performance of our brands and unlock the potential of new markets. We are looking forward to accelerating the growth of our portfolio via both organic development and discipline acquisitions, building a global portfolio of iconic luxury fashion brands that appeal to a broad customer base. Lanvin Group will enable these brands to flourish outside of their home countries, in the largest luxury market in the world”.
Lanvin Group covers a wide range of fashion categories and leverages a combination of e-commerce, offline retail, and wholesale channels to sell its products. These channels are providing significant growth opportunities and stability throughout the fashion cycle.