Fosun attends "Choose France" Summit for a third time

Rhea-AI Summary

On May 13, 2024, Fosun International's Chairman, Guo Guangchang, attended the Choose France Summit in Paris. The summit, hosted by the French government, aims to highlight France's investment appeal. Guo Guangchang engaged with French officials and business leaders from prominent companies like BNP Paribas and AXA. Fosun's extensive business presence in France includes sectors like tourism, fashion, pharmaceuticals, and food, with annual revenue exceeding 2 billion euros and over 10,000 local employees. Fosun has significantly contributed to Franco-Chinese business and cultural exchanges since entering the French market in 2010. The company owns renowned brands such as Club Med and Lanvin. Fosun also promoted the Yuyuan Lantern Festival in Paris last year, attracting nearly 200,000 visitors. The event marks Fosun's third participation in the summit, emphasizing its commitment to fostering further Franco-Chinese cooperation.

Positive

• Fosun's annual revenue in France exceeds 2 billion euros.
• The company employs over 10,000 people in France, with more than 95% being local hires.
• Fosun owns prominent brands such as Club Med and Lanvin.
• Club Med has expanded to 68 resorts in over 40 countries under Fosun's partnership.
• Lanvin has shown strong growth since joining Fosun in 2018.
• Fosun's participation in the Choose France Summit emphasizes its commitment to Franco-Chinese cooperation.
• Fosun successfully brought the Yuyuan Lantern Festival to Paris, attracting nearly 200,000 visitors.

Negative

• No significant negative business aspects were reported in the press release.

HONG KONG, May 16, 2024 /PRNewswire/ -- On 13 May 2024, Guo Guangchang, Chairman of Fosun International, attended the Choose France Summit hosted by the French government in Paris.

During the summit, Guo Guangchang engaged in discussions with French officials such as Emmanuel Moulin, Chief of Staff of the Prime Minister's Office; Olivia Grégoire, French Minister Delegate for Small and Medium Enterprise, Tourism and Consumer Affairs; Laurent Saint-Martin, CEO of Business France.

He also exchanged views with business leaders from companies such as BNP Paribas, AXA, Groupe BPCE, Société Générale, and Crédit Agricole, and participated in summit forums and events such as the reception dinner hosted by President Macron.

The Choose France Summit, hosted by the French government, aims to showcase France's investment advantages to global corporations and attract overseas businesses to operate in France. This edition of the summit attracted participation from over 180 corporate leaders from around the world. It marks the seventh time France has organized this summit and the third time Fosun has participated in the event.

Guo Guangchang said, "It's a privilege to attend the Choose France Summit once again. France marks the beginning of Fosun's global journey. Since we made our debut in the French market in 2010, Fosun has become a bridge for cultural, tourism, and business exchanges between France and China, and is currently the largest Chinese private enterprise investing in France. The group's annual revenue in France exceeds 2 billion euros, and we employ over 10,000 people in the country, with more than 95% being local hires. Fosun's success in France is a testament to the country's exceptional investment appeal and outstanding business environment."

Fosun's business presence in France is extensive and diverse, spanning sectors such as tourism, fashion, jewelry, pharmaceuticals, health, consumer goods, and food. The group's portfolio includes the global resort chain Club Med, the historic French haute couture brand Lanvin, well-known French jewelry brand Djula, health food industry leader St Hubert, asset management platform PAREF, pharmaceutical distribution company Tridem Pharma, and pharmaceutical CDMO Cenexi, among others.

Club Med is a classic example of Sino-French economic and business cooperation. Since Fosun became Club Med's strategic partner in 2010, Fosun has deeply empowered Club Med through its global resource integration capabilities, helping it become a global leader in the "all-inclusive" resort sector. By the end of last year, Club Med had expanded its global presence to 68 resorts across more than 40 countries.

Lanvin, a long-established French luxury brand, has maintained strong growth since joining Fosun in 2018. Fosun's global fashion luxury group, Lanvin Group, now also owns international brands such as Sergio Rossi, Wolford, St. John Knits, and Caruso.

This year marks the 60th anniversary of the establishment of diplomatic relations between China and France, as well as the China-France Year of Culture and Tourism. To further promote Franco-Chinese cultural exchanges, Fosun brought the Yuyuan Lantern Festival, a national intangible cultural heritage, overseas for the first time late last year, successfully landing at the Jardin d'Acclimatation in Paris. The 72-day event attracted nearly 200,000 local visitors.

"As a global enterprise, we are thrilled to leverage our global ecosystem to support more French brands and their associated cultural and lifestyle concepts in reaching global consumers, including those in China. Looking ahead, Fosun looks forward to collaborating with more French companies and institutions to contribute further to Franco-Chinese cooperation and showcase the business strength and cultural charm of both nations to the world", Guo Guangchang said.

View original content:https://www.prnewswire.com/news-releases/fosun-attends-choose-france-summit-for-a-third-time-302147301.html

SOURCE Fosun

FAQ

What is the Choose France Summit that Fosun attended?

The Choose France Summit is an event hosted by the French government to showcase France's investment advantages to global corporations and attract overseas businesses.

When did Fosun attend the Choose France Summit?

Fosun attended the Choose France Summit on May 13, 2024.

How many times has Fosun participated in the Choose France Summit?

Fosun has participated in the Choose France Summit three times.

What is Fosun's annual revenue in France?

Fosun's annual revenue in France exceeds 2 billion euros.

How many employees does Fosun have in France?

Fosun employs over 10,000 people in France, with more than 95% being local hires.

Which prominent brands are owned by Fosun in France?

Fosun owns prominent brands such as Club Med and Lanvin in France.

How has Club Med expanded under Fosun's partnership?

Club Med has expanded its global presence to 68 resorts in over 40 countries under Fosun's partnership.

What cultural event did Fosun bring to Paris?

Fosun brought the Yuyuan Lantern Festival to Paris last year, attracting nearly 200,000 visitors.

Who did Guo Guangchang meet at the Choose France Summit?

Guo Guangchang met with French officials such as Emmanuel Moulin, Olivia Grégoire, and Laurent Saint-Martin, as well as business leaders from companies like BNP Paribas and AXA.