Latest news with #LanvinGroup
Yahoo
6 days ago
- Business
- Yahoo
Wolford Appoints Deputy CEO, Completes Capital Increase
MILAN — Wolford AG has appointed Marco Pozzo its deputy chief executive officer. At the same time, on Wednesday the luxury skinwear brand stated it has successfully completed a capital increase of 25 million euros, 'reinforcing the company's financial foundation to accelerate its strategic transformation.' More from WWD WWD Toasts Milan Men's Fashion Week With Cocktail Reception, Global Impact Council Dinner Pitti Uomo Protagonists Show Summer Chic for Spring 2026 Caruso: Playful Elegance, Suits, Authenticity Are Here to Stay The transaction, carried out via rights issue, resulted in the issuance of more than 5 million new shares at a subscription price of 4.80 euros per share, increasing the company's share capital to more than 71.4 million euros. This capital raise 'reflected the confidence of parent Lanvin Goup and other key investors in Wolford's vision and execution,' stated Wolford. Pozzo has previously worked in leading design and luxury brands ranging from Ermenegildo Zegna and Alessi, to FontanaArte and Driade, holding executive roles internationally — from Mexico to Greater China — spearheading major retail and organizational expansions, as well as the digital transformation and the omnichannel strategy of the brands. Regis Rimbert succeeded Silvia Azzali as the CEO of Wolford in the summer of 2024, but he left after only six months, as reported in January. This was a return to Wolford for Rimbert as he held senior management positions from 2009 to 2013 at the Austrian hosiery and innerwear company, driving its omnichannel transformation. Since Rimbert's exit there has been no CEO at the helm of Wolford. Azzali had set in motion a reorganization of the company, planning its expansion and inking a string of collaborations with brands ranging from No. 21, Jonathan Simkhai and Mugler to Adidas, Alberta Ferretti and Etro, among others, on collections that included jumpsuits or bodysuits in addition to hosiery. In February 2023, Nao Takekoshi was named artistic director. On her tours, Beyoncé has been seen wearing Wolford tights and bodysuits and her dancers, during the Cowboy Carter tour, wore matching denim chaps with Wolford x Etro paisley tattoo bodysuits. Wolford marks its 75th anniversary this year as it was established in 1950 near the shores of Lake Constance in the city of Bregenz. Since 2018, it has been part of the Lanvin Group — then called Fosun. Lanvin Group is publicly listed in New York, while Wolford is traded on the Vienna Stock Exchange. As reported in April, Lanvin Group revenues fell 23 percent to 329 million euros last year. Losses widened to 189.3 million euros from 146.3 million euros a year earlier. Adjusted losses before interest, taxes, depreciation and amortization widened to $92.3 million from $64.2 million. Some of that represented organizational and operational changes at the company, which also owns Lanvin, St. John, Sergio Rossi and Caruso. David Chan, executive president and chief financial officer of Lanvin Group, said on a conference call at the time that those adjusted losses included 14 million euros to 18 million euros to integrate Wolford's of WWD EXCLUSIVE: Maje Names Charlotte Tasset Ferrec CEO Nadja Swarovski Exits Family Company Amid Ongoing Corporate Shakeup Aeffe MD Exits Fashion Group
Fashion Network
08-07-2025
- Business
- Fashion Network
Wolford names Marco Pozzo deputy CEO
Pozzo's appointment is part of an overhaul of Wolford's top management team. The Austrian brand was bought by international luxury conglomerate Lanvin Group in 2018. Régis Rimbert, who replaced Silvia Azzali as CEO in June last year, resigned after only six months in the job. Global CFO Andrea Rossi is currently the acting CEO, on an interim basis. In fiscal 2024, Wolford recorded a 30% revenue shortfall, dropping down to €88.37 million and posting losses of over €51 million. The brand is distributed in 45 countries via 163 monobrand stores and 1,100 multibrand retailers. At the end of June, Wolford announced a new share capital increase, designed to boost the company's liquidity. The operation is set to be completed by Q1 2026. FN with Dpa
Fashion Network
07-07-2025
- Business
- Fashion Network
Wolford names Marco Pozzo deputy CEO
Pozzo's appointment is part of an overhaul of Wolford's top management team. The Austrian brand was bought by international luxury conglomerate Lanvin Group in 2018. Régis Rimbert, who replaced Silvia Azzali as CEO in June last year, resigned after only six months in the job. Global CFO Andrea Rossi is currently the acting CEO, on an interim basis. In fiscal 2024, Wolford recorded a 30% revenue shortfall, dropping down to €88.37 million and posting losses of over €51 million. The brand is distributed in 45 countries via 163 monobrand stores and 1,100 multibrand retailers. At the end of June, Wolford announced a new share capital increase, designed to boost the company's liquidity. The operation is set to be completed by Q1 2026. FN with Dpa
Fashion Network
07-07-2025
- Business
- Fashion Network
Wolford names Marco Pozzo deputy CEO
Wolford has strengthened its senior executive team by appointing Marco Pozzo as deputy CEO. The supervisory board of the Austrian luxury skinwear brand has also made Pozzo a member of Wolford's board of directors. Pozzo's appointment is part of an overhaul of Wolford's top management team. The Austrian brand was bought by international luxury conglomerate Lanvin Group in 2018. Régis Rimbert, who replaced Silvia Azzali as CEO in June last year, resigned after only six months in the job. Global CFO Andrea Rossi is currently the acting CEO, on an interim basis. In fiscal 2024, Wolford recorded a 30% revenue shortfall, dropping down to €88.37 million and posting losses of over €51 million. The brand is distributed in 45 countries via 163 monobrand stores and 1,100 multibrand retailers. At the end of June, Wolford announced a new share capital increase, designed to boost the company's liquidity. The operation is set to be completed by Q1 2026. FN with Dpa
Fashion United
15-05-2025
- Business
- Fashion United
Struggles at Lanvin Group as parent company eyes asset sales
Fosun International's efforts to build a global luxury portfolio under its fashion arm the Lanvin Group, may be in flux. The Chinese conglomerate, which spent the last decade acquiring high-end brands including Lanvin, Wolford, and St. John Knits, is now reported to be open to divesting from some of its fashion investments, highlighting the challenges of translating financial ambition into fashion success. At the heart of these challenges is Lanvin, France's oldest couture house. Despite Peter Copping's well-received debut in January, the brand, once seen as the centrepiece of Fosun's fashion strategy that survived wars and revolutions, has struggled to regain relevance despite attempts at revitalisation. The New York Times said the brand had been on 'life support' since Alber Elbaz's ousting in 2015. It remains to be seen how well Copping's first collection will do at retail once it hits the shelves. Fosun took control of Lanvin in 2018 and later bundled the brand into Lanvin Group alongside other fashion houses, aiming to create operational synergies and prepare for a public listing. However, persistent underperformance, creative turnover, and branding missteps have hampered progress. A year of transformation In April, Lanvin Group CEO Zhen Huang offered a cautiously positive outlook. "2024 was a year of transformation for Lanvin Group. While market conditions were challenging, we made critical strides in strengthening our brands, optimizing our operations, and laying the groundwork for future growth. With our renewed creative leadership and disciplined execution, we are confident in our ability to navigate the evolving luxury landscape and deliver long-term value," he said. However, some industry observers remain skeptical, noting that unlike Burberry — where new CEO Joshua Schulman has taken a more introspective approach — Lanvin Group appears more focused on macroeconomic explanations than deep course correction. While it is easy to blame market conditions, the reality is that there's been poor stewardship, high turnover and a lack of clarity in design and operations. Burberry has faced similar pressures, but its leadership, along with creative director Daniel Lee, has been willing to make difficult changes. Will Lanvin Deputy CEO Siddhartha Shukla and Peter Copping make similar strides? According to reports by Miss Tweed, Fosun is now quietly open to sell not only its houses but also reportedly offloading tangible assets, such as buildings and production facilities, in an effort to raise capital and reduce operational costs. This signals not just cost-cutting but also a move away from long-term brand investment. The timing is particularly difficult, as global luxury demand has softened in key markets like China and Europe. A looming trade war and changing consumer priorities have made it harder for brands without a strong narrative or clearly defined identity to maintain relevance. Fosun's fashion strategy, once heralded as a bold push into the luxury space, is now being viewed by some in the industry as a case study in overreach. A deep understanding of European luxury is needed Creating a fashion group is not just about scaling up, of course. Without a deep understanding of what makes a brand special, you risk turning decades of heritage into something irrelevant. As sales decline and pressure intensifies, Lanvin's future hangs in the balance. Whether the brand — or its parent Group — will sell, double down on investment, or succeed in restoring market relevance remains to be seen. Much now rests on Peter Copping's Fall 2025 collection, which industry observers hope could be the spark Lanvin needs — or a final confirmation that the house has become a ghost of its former self.
