Lanvin starts from the accessories: but it takes time, explains the CEO

Style, accessories, organisation: these are the three pillars of Lanvin‘s relaunch. But it takes time. The premise is that, when Fosun acquired the majority of the brand in February 2018, it was sailing in bad waters. Since Alber Elbaz‘s farewell, commercial performance has collapsed. For this reason, a recovery will take place, but in due course: the new owner has given himself a five-year plan, the first three of which are necessary to bring the brand back into shape. CEO Jean-Philip Hecquet explains to Les Echoes: “Lanvin is the admiral brand of Fosun Fashion Group division (which also includes Caruso and Tom Tailor, ed.). Fosun is determined to relaunch it: it is an operation in which we are very involved”. It is no coincidence, therefore, that Lanvin is beginning from the accessories. The proprietary holding has already invested 100 million euros in the brand’s activities in the first two years of management.

But it takes time

The CEO acknowledges that 2019 was still a year of transition. For Lanvin there are three pillars for its relaunch, we said. The design: and for this reason Bruno Sialelli was called to take care of creative direction. The organisation: Lanvin renewed its management, and with about 50 hires. “Some sectors had too many employees – says Hecquet -. Others, like digital, not enough. Bruno’s arrival, with his verve and vision, has invigorated people previously exhausted”.

Product and retail

Finally, the third pillar concerns the product: Lanvin accelerates on footwear and leather goods. That is, accessories, “a category almost non-existent a year ago, but which already accounts for 25% of sales – resumes Hecquet -: the goal is to reach 50%”. For the product to succeed, digital marketing and retail reform are also needed. “We haven’t won our battle yet, but the signs show us – concludes the CEO – that we are going in the right direction”.

Image lanvin.com

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