The Chinese powerhouse Fosun International has recently bought a majority stake in the French fashion brand Lanvin.
The purchase was announced in a statement this past Thursday. The Shanghai company owns a wide range of brands including Club Med resorts and the men’s label Caruso.
Lanvin, founded in 1899, is the oldest fashion house in France. The brand has been bought by Shaw-Lan Wang in 2001, which turned it into a global brand.
Chinese businesses are looking to expand their portfolio of luxury European brands. Back in January, it was revealed that Shandong Ruyi Group were the leading bidders for the Swiss luxury handbag company Bally. The French crystal maker Baccarat was bought by the Chinese group, Fortune Fountain Capital in June last year.
According to the firm, Bain & Co., luxury sales have grown in China by 20 percent last year, with a third of the sales coming from Chinese consumers.
After every fashion show, there’s always the circulation of which trends will take the extra step into the fashion world. After Paris Men’s Fashion Week, a question was asked: do our shoes need their own pair of shoes?
Chinese fashion brand Sankuanz thinks so. Its design team sent a model down the runway wearing high top sneakers that never really touched the runway.
“They’re transformable sneakers that have an outer layer of protective sandal that you can enter Velcro into and you can strap them on or off,” Sankuanz publicist Courtney Wittich described.
The shoes really look like big-cushioned, rubber Birkenstocks with added Velcro straps you add to your already existing shoes.
“I think they’re going to be really popular,” Wittich said. “I mean, you know, the streets are quite dirty and people want to protect their shoes, especially if they’re paying a lot of money for them.”
The shoe sandals are expected to be sold for around $355 when they become available in August.
“You can walk totally normal in them and it gives you an extra layer of protection and then also height,” Wittich said.
The concept isn’t far off from what the company’s image is nor from the layering trend that is happening in today’s fashion world.
“So far we haven’t heard anything about a third layer generation, but if we hear about that we’ll let you know,” Wittich said.