As the Chinese-owned luxury group raises fresh funds to fuel a turnaround, it’s contending with a cooling luxury market and a playing field dominated by much larger rivals.

The Shanghai-based company has been busily seeking a turnaround at its portfolio of brands including Lanvin, Wolford, and Sergio Rossi ahead of a planned New York IPO. Amid market turmoil, can the group still achieve a bumper exit?

The fashion group, which owns brands including Lanvin, Sergio Rossi, St. John Knits and Wolford, will be listed on the New York Stock Exchange following a deal with Primavera Capital Acquisition Corporation.

The Chinese firm that owns Lanvin, Sergio Rossi, St. John Knits and Wolford could be eyeing an IPO after recently rebranding as Lanvin Group.

This autumn, labels from Michael Kors to Comme des Garçons to Raf Simons are presenting collections in October in what’s shaping up to be something like a second fashion month. Will it stick post-pandemic?

Smart businesses will emerge from this crisis stronger, but only by collaborating with competitors and upholding their responsibilities, not just to shareholders, but to a wider set of stakeholders, including employees, suppliers and society at large.

This week, Lanvin CEO Jean-Philippe Hecquet steps down, while L Brands secures a board chair to join upon the completion of its Victoria’s Secret sale.

At BoF’s annual VOICES gathering, Fosun Fashion Group Chairman Joann Cheng urged global brands to look beyond China’s usual urban markets.