Lanvin, A Fashion Luxury Group With Stock Code Of "Lanv", Plans To Merge And List

2022/3/26 1:29:00 0

Chinese fashion and luxury goods company Lanvin group has reached a merger agreement with Primavera capital acquisition Corp, a special purpose acquisition company of Chunhua capital group. After the transaction is completed, Fulang group will be listed on the New York Stock Exchange under the stock code of "lanv".

The entire merger is expected to be completed by the end of the second quarter or the beginning of the third quarter of 2022. The enterprise valuation is $1.5 billion, and the equity value after the merger is as high as $1.9 billion.

The group will receive up to $544 million in revenue, including $414 million in cash currently held in Primavera trust accounts, etc., and $130 million from investors' forward purchase agreements.

Fulang group (formerly known as "Fosun fashion") was founded by Chinese enterprise Fosun International Co., Ltd. in 2017.

At present, French high-end fashion brand Lanvin longfan, Italian high-end shoe brand Sergio Rossi, Austrian high-end skin friendly clothing brand Wolford, American Classic women's knitting brand St. John knits, and Italian high-end men's clothing manufacturer Caruso.

According to the financial data provided by Fulang group, the estimated revenue of Fulang group will reach 333 million euro (about 367 million US dollars) in 2021, achieving a year-on-year increase of 23.3%.

At present, Fulang group has 1200 sales points and more than 300 retail stores in more than 80 countries around the world. Nearly half of the revenue comes from Europe, the Middle East and Africa, with greater China accounting for 14% of global revenue in 2021 and North America accounting for 33%.