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Fosun triumphs in bidding war for Lanvin, troubled fashion house

A woman walks past a Lanvin store in Paris, France, January 12, 2017.   REUTERS/Christian Hartmann

27/02/2018

The New York Times

Lanvin, France’s oldest surviving couture house, which has been teetering on the brink of collapse for more than two years, has been acquired by a major Chinese private conglomerate after a fierce bidding war, the Chinese company announced on Thursday.

The conglomerate, Fosun International, said it had acquired a majority stake in the Paris-based Lanvin, which has been racked by the departures of designers, tumbling sales and entrenched internal discord. Fosun beat out Mayhoola for Investments, a fund backed by the Qatari royal family that owns brands like Balmain and Valentino.

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