French fashion house Lanvin is in discussions with several investors to sell a majority stake, and must conclude a deal soon or risk a liquidity crisis, WWD has learned.Among the potential buyers is Mayhoola Group, according to an industry source.
The Qatari fund already owns Valentino, Balmain and Pal Zileri, and would be keen to add a prestigious French fashion house to its portfolio. Besides, this is not the first time Mayhoola has expressed an interest in Lanvin. In 2015, the Qatari group put forward an acquisition offer worth between €400 and €500 million, which Shaw-Lan Wang rejected.
Lanvin was founded in 1889 and has been experiencing difficulties for some years, especially after the dismissal in 2014 of Creative Director Alber Elbaz. In 2016, the label is believed to have incurred losses of just over €10 million – for the first time in nearly 10 years – compared to a €6.3 million profit the previous year. In the same period, sales slumped by more than 20%, down to less than €170 million, compared to €210 million in 2015.
Lanvin Spring Summer 2018
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from CPP-LUXURY http://www.cpp-luxury.com/lanvin-actively-seeking-a-potential-buyer-in-talks-with-qatars-mayhoola/?utm_source=rss&utm_medium=rss&utm_campaign=lanvin-actively-seeking-a-potential-buyer-in-talks-with-qatars-mayhoola
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