Latest news with #PeterCopping
Fashion United
15-05-2025
- Business
- Fashion United
Struggles at Lanvin Group as parent company eyes asset sales
Fosun International's efforts to build a global luxury portfolio under its fashion arm the Lanvin Group, may be in flux. The Chinese conglomerate, which spent the last decade acquiring high-end brands including Lanvin, Wolford, and St. John Knits, is now reported to be open to divesting from some of its fashion investments, highlighting the challenges of translating financial ambition into fashion success. At the heart of these challenges is Lanvin, France's oldest couture house. Despite Peter Copping's well-received debut in January, the brand, once seen as the centrepiece of Fosun's fashion strategy that survived wars and revolutions, has struggled to regain relevance despite attempts at revitalisation. The New York Times said the brand had been on 'life support' since Alber Elbaz's ousting in 2015. It remains to be seen how well Copping's first collection will do at retail once it hits the shelves. Fosun took control of Lanvin in 2018 and later bundled the brand into Lanvin Group alongside other fashion houses, aiming to create operational synergies and prepare for a public listing. However, persistent underperformance, creative turnover, and branding missteps have hampered progress. A year of transformation In April, Lanvin Group CEO Zhen Huang offered a cautiously positive outlook. "2024 was a year of transformation for Lanvin Group. While market conditions were challenging, we made critical strides in strengthening our brands, optimizing our operations, and laying the groundwork for future growth. With our renewed creative leadership and disciplined execution, we are confident in our ability to navigate the evolving luxury landscape and deliver long-term value," he said. However, some industry observers remain skeptical, noting that unlike Burberry — where new CEO Joshua Schulman has taken a more introspective approach — Lanvin Group appears more focused on macroeconomic explanations than deep course correction. While it is easy to blame market conditions, the reality is that there's been poor stewardship, high turnover and a lack of clarity in design and operations. Burberry has faced similar pressures, but its leadership, along with creative director Daniel Lee, has been willing to make difficult changes. Will Lanvin Deputy CEO Siddhartha Shukla and Peter Copping make similar strides? According to reports by Miss Tweed, Fosun is now quietly open to sell not only its houses but also reportedly offloading tangible assets, such as buildings and production facilities, in an effort to raise capital and reduce operational costs. This signals not just cost-cutting but also a move away from long-term brand investment. The timing is particularly difficult, as global luxury demand has softened in key markets like China and Europe. A looming trade war and changing consumer priorities have made it harder for brands without a strong narrative or clearly defined identity to maintain relevance. Fosun's fashion strategy, once heralded as a bold push into the luxury space, is now being viewed by some in the industry as a case study in overreach. A deep understanding of European luxury is needed Creating a fashion group is not just about scaling up, of course. Without a deep understanding of what makes a brand special, you risk turning decades of heritage into something irrelevant. As sales decline and pressure intensifies, Lanvin's future hangs in the balance. Whether the brand — or its parent Group — will sell, double down on investment, or succeed in restoring market relevance remains to be seen. Much now rests on Peter Copping's Fall 2025 collection, which industry observers hope could be the spark Lanvin needs — or a final confirmation that the house has become a ghost of its former self.
Yahoo
30-04-2025
- Business
- Yahoo
Lanvin Group Sales Fall 23% in Transitional Year
Lanvin Group might have drummed up some creative excitement with key hires at Lanvin and Sergio Rossi, but the company's financial results showed the strain of what was described as a 'transitional year.' Revenues fell 23 percent to 329 million euros last year. More from WWD Art Deco Turns 100: How Will You Celebrate? Peter Copping and Tory Burch to Be Honored by SCAD Lanvin Group's Revenues Fall 23% in 'A Transitional Year' And while a mix of pricing discipline, higher direct-to-consumer sales and inventory management helped hold gross profit margins at 56 percent, down only slightly from 59 percent, it wasn't enough to save the bottom line. Losses widened to 189.3 million euros from 146.3 million euros a year earlier. Adjusted losses before interest, taxes, depreciation and amortization widened to $92.3 million from $64.2 million. But some of that represents organizational and operational changes at the company, which also owns Wolford, St. John and Caruso. David Chan, executive president and chief financial officer of Lanvin Group, said on a conference call that those adjusted losses included 14 million euros to 18 million euros to integrate Wolford's logistics as well as 5 million euros to 10 million euros for the company's 'creative transition.' Without those costs, adjusted EBITDA losses were consistent with 2023 results. The company certainly has been busy. Veteran designer Peter Copping became artistic director of the Lanvin brand in September. Paul Andrew was named creative director of Sergio Rossi in July. And St. John Knits' chief executive officer Andy Lew was named executive president of the whole group in January. 'Financially, Lanvin demonstrated remarkable resilience,' said Lew on the call. 'Despite market pressures, we maintained a stable gross profit margin through disciplined cost control and inventory optimization. 'We're building a dynamic leadership team, combining industry veterans and fresh perspectives to foster innovation and rapid decision making,' he said. 'Our new European headquarters based in Milan will enhance regional oversight, streamline operation and traction relationships with key stakeholders.' The company will also continue to optimize its store base and work to reduce working capital. 'As we enter 2025, we do so with optimism,' Lew said. 'Peter Copping's new collection, Wolford's [75th] anniversary and Paul Andrew's vision for Sergio Rossi are just the beginning. With a revitalized team we're poised to turn this pivotal moment into growth.' Lanvin raised more than $150 million in cash going public in a SPAC deal in late 2022. But it has never really found its footing on Wall Street, where the stock fell almost immediately after debuting at $10. On Wednesday, shares of Lanvin were down 2.7 percent to $2 in midday trading, leaving it with a market capitalization of $234.6 million. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Yahoo
26-03-2025
- Entertainment
- Yahoo
SCADstyle returns to Savannah
SAVANNAH AND ATLANTA, Ga. (WSAV) — The Savannah College of Art and Design announces SCADstyle 2025, the university's highly anticipated annual showcase of the visionaries, innovators, and cultural disruptors shaping the future. Presenting across university locations in Savannah and Atlanta March 31 through April 3, SCADstyle 2025 offers unparalleled and exclusive access to the defining voices and game-changing perspectives from all facets of style and design. SCAD President and Founder Paula Wallace says, 'The world's elite creative pros congregate at SCAD during SCADstyle.' Wallace goes on to say, 'I'm especially looking forward to hearing from this year's SCAD Étoile Award honorees, including Peter Copping (the luminous visionary behind Lanvin) and iconic American designer and entrepreneur Tory Burch.' SCADstyle 2025 offers students master classes and panels that touch on every métier of SCAD, from fashion and beauty to architecture, game design, and beyond. As a zenith to the SCADstyle 2025 programming, two of fashion's leading luminaries will receive the prestigious SCAD Étoile award, honoring their illustrious careers and eminent achievements. Lanvin artistic director Peter Copping will receive the SCAD Étoile Award Wednesday, April 2, with the presentation followed by the designer in conversation with fashion journalist Cathy Horyn. Tory Burch, executive chairman and chief creative officer of Tory Burch LLC, will be presented with the SCAD Étoile award Thursday, April 3. SCADstyle Savannah programming March31 – April 2 includes a new series engineered exclusively for SCADstyle 2025. In Next In, Refinery29 spotlights creatives and innovators across fashion, beauty, design, tech, entertainment, and culture. Throughout SCADstyle, Refinery29 editors and thought leaders reveal industry secrets, strategies, and shifts through transformative conversations and demonstrations to inspire next-gen dreamers with visionaries like fashion designer Willy Chavarria, sustainability pioneer Eileen Fisher, and Jiyoon Yoon, the lead UI designer behind the hyper-realistic life simulator game in ZOI. Tune in for a live recording of Gloss Angeles, a top beauty podcast with hosts Kirbie Johnson, Sara Tan, and special guest Violette Serrat of VIOLETTE_FR. SCADstyle Savannah will also feature an exclusive Dezeen Design Talk with Dominique Petit-Frère, creative strategist, urbanist, and co-founder of spatial design practice Limbo Accra. In conversation with Dezeen U.S. editor Ben Dreith, Petit-Frère reveals her practice for building durable institutions to affect social awareness and connection through design. Additional SCADstyle Savannah event highlights include a Paul Egee Waterworks honorarium with Lulu Lytle, interior designer and founder of Soane Britain. SCADstyle programming in Atlanta on April 3 offers an exploration into the digital world, featuring AI-fashion experts from LVMH, Nordstrom, and PUMA, including Rachel Bassler, Dominic Dina, Red Godfrey, and Rob Gruhlto discuss the intersection of artificial intelligence with the current and future state of the fashion industry. This roundtable will examine how AI is revolutionizing design, production, marketing, and the consumer experience. Finally, Tory Burch will receive the coveted SCAD Étoile award, followed by an in-depth conversation with journalist and curator Stefano Tonchi. Thef ashion designer, entrepreneur, and philanthropist will discuss her remarkable journey building a global fashion empire and her efforts to empower the next generation of female entrepreneurs. SCADstyle will culminate with the celebration of SCAD FASH Museum of Fashion + Film's newest exclusive exhibitions, Jeanne Lanvin: Haute Couture Heritage and Campbell Addy's The Stillness of Elegance. Curated in collaboration with the Fondation Azzedine Alaïa and Lanvin Heritage, Jeanne Lanvin: Haute Couture Heritage will be the first presentation of Jeanne Lanvin's work in the U.S., showcasing expertly preserved Jeanne Lanvin looks that span the height of her practice from the late 1890s to 1940s. Addy's The Stillness of Elegance marks the British Ghanaian photographer and visual artist's first institutional solo show in the U.S. and includes works that exemplify Addy's dynamic exploration of personal intimacy, creative connection, and world-building across his visual oeuvre. SCAD stands as the leading global authorities in higher education for creative fields. SCADstyle is one of the university's most anticipated signature events, offering a highly curated platform for students to connect with the top innovators and leaders of the design industry, while equipping them with the tools and insights to launch their creative careers at the highest level. More than 20 of the university's top-ranked degree programs are represented in SCADstyle 2025 programing including fashion design, fashion marketing and management, luxury and brand management, photography, interior design, furniture design, graphic design, industrial design, user experience design, advertising and branding, business of beauty and fragrance, illustration, architecture, animation, service design, interactive design and game development, design for sustainability, motion media design, immersive reality, accessory design, art history, and creative business leadership. SCADstyle is free and open to the public. For more information, click here. Copyright 2025 Nexstar Media, Inc. 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Washington Post
27-01-2025
- Entertainment
- Washington Post
Lanvin: A return to elegance in Peter Copping's highly anticipated Paris debut
PARIS — Lanvin, the world's oldest continually operating couture house, founded in 1889, unveiled a new chapter in its storied history with Peter Copping's debut as artistic director. Tasked with restoring focus and relevance to the maison at Paris Fashion Week, Copping took inspiration from Jeanne Lanvin herself, channeling her 1920s and '30s vision into a collection on Sunday night that bridged timeless elegance with modernity.
