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Lanvin Group announced the completion of its business combination with Primavera Capital Acquisition Corporation, leading to its listing on the NYSE under ticker symbols LANV and LANVW. The transaction generated approximately US$150 million in cash proceeds, aimed at accelerating growth and funding strategic acquisitions. In the first half of 2022, Lanvin Group reported an impressive 73% revenue growth year-over-year, totaling €202 million. The company aims to leverage its brand portfolio and strategic partnerships to capture opportunities in North America and Asia.
Lanvin Group and Primavera Capital Acquisition Corporation (NYSE: PV) have announced that Handsome Corporation will join Lanvin's strategic investor alliance. Handsome has been a distributor for Lanvin in South Korea since 2007, managing 1,389 stores and generating nearly $1.1 billion in revenue in 2021. The business combination agreement has been amended to remove the cash closing condition, and an extraordinary general meeting is scheduled for December 9, 2022, for shareholder approval. Trading under the ticker LANV is expected to commence post-completion.
Lanvin Group announced the SEC's effectiveness of its Registration Statement regarding a business combination with Primavera Capital Acquisition Corporation (NYSE: PV). The pre-money valuation has been revised to US$1 billion from US$1.25 billion. An extraordinary general meeting is scheduled for December 9, 2022, to approve the merger. Meritz Securities committed US$50 million in a private placement, while Fosun Fashion's PIPE subscription was upsized to US$133 million. The combined entity will be listed under the ticker LANV by year-end.
Lanvin Group reported a remarkable 73% year-over-year revenue growth in the first half of 2022, reaching €202 million, significantly led by its flagship brand Lanvin with a stunning 117% global sales growth. The Group is on track to achieve positive results by year-end, bolstered by secured investments totaling US$50 million and potential additional contributions up to US$290 million ahead of its merger with Primavera Capital Acquisition Corporation (NYSE: PV), projected for late 2022 at a reduced valuation of US$1 billion.
Lanvin Group reports a record 52% pro forma global revenue growth in 2021, reaching €339 million, driven by its acquisition of Sergio Rossi and strong performance in North America and Asia. The Lanvin brand achieved 108% global sales growth, with notable increases in e-commerce sales by 415%. The Group anticipates further growth in 2022, bolstered by enhanced omni-channel strategies. Additionally, it has filed for a business combination with Primavera Capital Acquisition Corporation (NYSE: PV), aiming for a NYSE listing later this year.
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