Lanvin Group to debut on New York Stock Exchange this week
Lanvin Group and Primavera Capital Acquisition Corporation (PCAC) said on Monday that they now have PCAC shareholder approval of their business combination and the group’s shares should debut on the New York Stock Exchange (NYSE) on 15 December under the ticker LANV.
The business combination itself should close the day before, subject to customary closing conditions. On that completion, the business will operate under the Lanvin Group name.
The deal will see members of the group’s management team and PCAC ringing the NYSE opening bell at 09:30 Eastern Time on Thursday. They’ll be joined by the respective leadership teams of the Lanvin, Wolford, Sergio Rossi, St John Knits and Caruso brands that the firm owns.
The move is significant because it’s the first such listing by a fashion specialist on a US stock exchange in a year as the tough environment has dampened enthusiasm for other such debuts.
Lanvin Group chair and CEO Joann Cheng said: “Going public is a natural step for Lanvin Group right now. We have built an iconic portfolio of heritage brands and recorded strong growth over recent years. Looking forward, our strategy is driving continuous organic growth through geographic, channel and product expansion for our brands, combined with disciplined investment in the luxury fashion sector. Against a background of proven resilience in the luxury market, we are confident that this strategy will enable us to deliver sustained long-term growth and value for our shareholders.”
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