Troubled French fashion house Lanvin is to be relaunched before the end of the year, with plans to expand into accessories and other luxury goods, the label told AFP on Tuesday. The oldest Paris couture house, which has been in turmoil since the shock sacking of popular designer AlberElbaz two years ago, said its owner, the Taiwanese media magnate Shaw-Lan Wang, who will fund the turnaround with a fresh cash injection.
The news comes amid renewed speculation about the future of the label, which sank into the red to the tune of 18.3 million euros ($21.2 million) last year, its first loss for a decade.
But its new designer Olivier Lapidus — who replaced BouchraJarrar in July after only 10 months at the helm — told AFP that he was helping to prepare a major shift for the brand, which was founded in 1889.
“Madame Wang very much believes in the label,” said Lapidus, who had only a month to put together his first women’s collection for Paris fashion week in September.
He said he wanted to strengthen the venerable label’s haute couture line and expand into luxury lifestyle products and decoration, while also beefing up its accessory lines. “The company has not a penny of debt. Our major shareholder has decided to put her hand in her pocket” to help relaunch the brand, he said.”I am not about to abandon ship, far from it,” added further.
