Lanvin claims situation is under control

Lanvin released a statement from “general management” reserving the right to “act in defense of its interests,” while acknowledging that it is “going through a difficult time but has no debts.”

“The Lanvin House reports its astonishment about the relentlessness of some of the media against her, and this for months,” it said. “Today, articles have been published in which one reports, all too often, on the basis of noises and not of certain facts. This deeply hurts the company as well as its employees.

“The House…has always paid its employees and suppliers, and is working actively and optimistically on its future,” it said.

The house on Friday afternoon released a statement from “general management” reserving the right to “act in defense of its interests,” while acknowledging that it is “going through a difficult time but has no debts.”

One story on Friday by Reuters quoted Lanvin’s managing director Nicolas Druz saying alternative “sustained financial and industrial solutions that do not involve capital increases will be found by the end of March.”

WWD reported earlier this week that there has not yet been any cash injection that was pledged by Lanvin’s owner, Taiwanese media magnate Shaw-Lan Wang. Last month, the executive said she would inject funds into the beleaguered company to “support future initiatives,” noting the plan was to announce “several areas of development” in the coming weeks.

Lanvin has struggled to find its footing since dismissing creative director Alber Elbaz in October 2015, following disagreements between the designer and Wang over the company’s direction.

Recent changes at the company includes the appointment of two successive creative directors and a new chief executive officer amid the resignation of board members.

Following the July appointment of Olivier Lapidus as designer, replacing Bouchra Jarrar after an only two-season run, two board members including minority shareholder Ralph Bartel resigned.

An auditor for the label recently issued a warning over its financial situation. Sales have been in decline since a peak of 235 million euros in 2012, falling 23 percent to 162 million euros last year when the house marked a net loss of 18.3 million euros — its first loss in nearly a decade.

Lanvin SS 2018 Giovanni Giannoni WWD