“It is clear that the company’s situation is deteriorating fast and now it is in a stalemate” – Source of Lanvin.
Jeanne Lanvin found her label 1889 as she began to dress France’s upper class and now one of the leading fashion houses in France, up with the likes of Christian Dior, Hermes and Chanel. The fashion house is best known for its duchesse satin, cocktail dresses and bringing cigarette trousers into their own run-way-right! But, do cuts in costs indicate they are suffering and unable to make profit targets? We found out as company’s partner Long Term Partners give their predictions after conducting an audit foreseeing a financial crisis.
Frances oldest fashion brand, Lanvin, is in the spotlight as it comes to surface red lights are flashing for the brands future. Once at its peak in 2012, even chief executive officer resigned over strategic differences. Job cuts mean that staff are anticipating a loss of employment or climbing up the fashion ladder, which means morale and spirits are low. 2016 Was the first time that realisations had been made the development of the company may not actually be that progressive after all.
Just one example of somebody who is reported to be making an exit before SS18 is Bouchra Jarrar who was the main successor to Alber Elbaz in March 2016 and shown 2 collections for the company!
Even shareholders are reluctant to pump more money into the company as the likes of Shaw- Lan Wang are worried it could dilute their stakes in the brand and ultimately be a further financial drain pipe.
It is heavily rumoured that Lanvin should have had more investment but sadly, it is all too little too late. Otherwise France could have benefited in their status-quo for the list of their fashionista legends. Unfortunately, sales in stores and department stores also have dropped dramatically, being reported just recently in January by 40%. This is 70% of the company’s profit spinners. We’ll certainty be sad to wave goodbye to Lanvin so let’s hope for a miracle!
What have been your favourite Lanvin collections or memories?
Text: Ellie Botti
Images: The Red List, A.G. Nauia Couture, Telegraph