The Lanvin Group plans to go public on Thursday.
The parent company of the Wolford, Sergio Rossi, Caruso and St. Johns Knits brands announced its debut on the New York Stock Exchange earlier this year. The date on December 15 is new. The company’s shares will go forward to be found under the ticker symbol “LANV.”
The IPO was subject to approval by Primavera Capital shareholders to merge with Lanvin Group. The investment company is already listed, and the merger will also enable the Lanvin Group to go public.
“The IPO is a natural step for the Lanvin Group. We have built an iconic portfolio of heritage brands and have experienced strong growth over the past few years,” said Joann Cheng, managing director of Lanvin Group, in a statement on Monday. She expressed confidence in achieving “sustainable, long-term growth and value appreciation” given the resilience of the luxury market.
Going forward, the group intends to grow organically through the brands’ geographic, distribution and product expansion, but also combine this with investments in the luxury fashion sector, Cheng said. In October, Lanvin Group lowered the company’s valuation from $1.25 billion to $1 billion.