On one hand Lanvin Group is allegedly ready to make an acquisition. On the other, Tom Ford is ready to sell, and it could do so to Kering, for historic reasons (the relation between the stylist and Gucci). A lot of operations are apparently about to kick off in the M&A contest between groups.
The good premises of 2021
Lanvin (ex Fosun) wants to become the 1st Chinese conglomerate following the footsteps of LVMH and Kering (hopefully with better luck than Shandong Ruyi). To do so, it has decided to make an acquisition before 2023. The holding already owns French brand Lanvin, Italian footwear manufacturer Sergio Rossi, Austrian lingerie brand Wolford, US female apparel house St. John Knits and Italian men’s apparel brand Caruso. With that, the group closed 2021 with a revenue of 339 million euro (+52% on yearly basis), mainly thanks to Lanvin’s growth (+108%) and the integration by Sergio Rossi. According to the CEO Joann Cheng, “2022 will be even better”. The group “will consolidate its basis in Europe and will take up the opportunities in the North American and African markets”.
Lanvin Group is ready to buy
Cheng confirmed to Bloomberg that the goal is to have the group’s IPO on the NYSE by October or November of 2022. Then it will focus on a new acquisition, which will take place “ideally the following year”. When exactly? “We are not in a hurry – answered the CEO -. We are examining good targets within the market”. Cheng didn’t exclude strengthening the accessories departments, following what done with Sergio Rossi.
Meanwhile Tom Ford
When there is a sale in sight, the two French giants are always shown as the most likely buyers. But for Tom Ford, Kering would be a natural path. Nss Magazine reminds us that stylist Tom Ford was the creative director of Gucci and Yves Saint Laurent. While Domenico De Sole, president of the Tom Ford brand, already directed some of Kering’s brands. Moreover, LVMH already owns an American brand (Marc Jacobs) and, according to rumors, is evaluating the purchase of Ralph Lauren. So, the latter is already covered in the US.