Jean-Philippe Hecquet quits Lanvin in management overhaul
Mar 17, 2020
Jean-Philippe Hecquet has left his position as CEO of Lanvin in a major management overhaul of the Paris fashion house, effective immediately.
In the interim, Joann Cheng, chairman of Fosun Fashion Group (FFG) and chairman of the board of directors of Lanvin, is taking over the role of Chief Executive Officer, and will be overseeing the brand’s strategy and operations, FFG informed FashionNetwork.com.
“Our shareholders have an unwavering vision and are committed to advancing their initiatives and investment in the brand, which is only just beginning a new chapter,” Cheng said.
“We will continue to work together with the management team to ensure that Lanvin has the right capital and strategy to succeed. The board of directors wish to thank Mr. Hecquet for all his efforts in leading Lanvin through an important period of transition,” she added.
Fosun acquired majority control of Lanvin in the spring of 2018, with a commitment to invest 100 million euros. The move completed a major acquisition drive that saw it gain control of a series of luxury and lifestyle brands, including Wolford, St. John Knits, Caruso and Tom Tailor. Though Fosun is quoted on the Hong Kong Stock Exchange, FFG is headquartered in Shanghai, China.
One of FFG’s first moves after acquiring control of Lanvin was to name Hecquet as CEO. Hecquet already boasted a considerable CV, including a stint with Tag Heuer and eight years with Louis Vuitton.
At the helm of Lanvin, Hecquet hired its current creative director, Bruno Sialelli, who has generally received warm reviews from critics for his witty re-interpretation of the Lanvin DNA, blended with ideas emanating from French popular culture.
FFG took pains to underline that it remains “strongly committed to reaffirming the brand’s position as one of the industry’s most iconic fashion houses. Under the creative direction of Bruno Sialelli, Lanvin’s fashion codes have been updated in a joyful and relevant way, creating a fresh identity for the brand, while staying true to its heritage.” Or a clear indicator that Sialelli’s position is not under immediate threat.
“Until a new CEO is appointed, Ms. Cheng and the executive committee will continue driving the company across all sectors while forming a solid foundation from which the brand can expect exponential growth in the future,” FFG added.
FFG is a division within the mammoth Fosun International group, a diversified private conglomerate with deep pockets and thirst to acquire stakes in prestige global brands. Fosun owns the Wolverhampton Wanderers' football team, currently ranked sixth in the English Premier League, as well as over 90% of Club Med, some 18% of Tsingtao beer and several prestige buildings like the 230-meter tall, residential tower at 126 Madison in Manhattan and 28 Liberty Street, which itself is in a 60-story building near Wall Street.
Launched in 2017, FFG is a multi-disciplinary industry platform under Fosun International Ltd that focuses on in-depth operations and strategic investments in the fashion industry. Its quintet of brands collectively turnover roughly 1.25 billion euros annually, making FFG the largest single Chinese group that owns international luxury brands.
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