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Fosun triumphs in bidding war for Lanvin, troubled fashion house


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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