Lanvin Group to open stores, hunt buys after US SPAC listing

Lanvin Group to open stores, hunt buys after US SPAC listing

Snow falls in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Jan. 30, 2019. Photographer: Michael Nagle/Bloomberg

Chinese luxury fashion conglomerate Lanvin Group, owner of the eponymous French fashion brand, said it is scouting for buys and will open new stores, after a New York SPAC listing on Thursday that raised $150 million and valued it at $1.31 billion.

The amount raised is far lower than the $544 million that the group, owned by China’s Fosun International 0656.HK, said in March it hoped to raise from the listing via a special purpose acquisition company (SPAC) set up by Primavera Capital.

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