Fosun has purchased a controlling stake in Lanvin, France’s oldest surviving couturier, as the Chinese conglomerate seeks to build up a portfolio of fashion businesses.
The deal marks Fosun’s return to the acquisition path after China’s bank regulator in June ordered domestic lenders to assess “systemic risk” to China’s financial system posed by the company and other conglomerates, with an eye on their offshore investments.
Beijing has pushed back against offshore investments it deemed frivolous, excessive and out of line with the government’s development goals. But the initiative has been apparently relaxed, with Chinese groups recently completing a batch of offshore lifestyle acquisitions.
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