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Lanvin Group wrote the Lanvin brand down by 66.7 million euros

Lanvin Group, the listed owner of Lanvin (@lanvin), booked a €66.7 million impairment of goodwill and brand for 2025, and its annual report says the Lanvin brand was the one that failed the test: €14,723 thousand off goodwill and €52,007 thousand off the brand asset itself, while Wolford, St. John and Sergio Rossi were left untouched. The name is held one layer down. Arpège SAS owns Jeanne Lanvin SA, which owns the Lanvin brand. Minority shareholders hold 4.73% of Arpège, and the shareholders' agreement gives each of their board members a vote on certain matters. When Fosun Fashion Group renamed itself Lanvin Group in 2021 it asked that board for an authorisation letter; in September 2022 a minority holder wrote to say the rebrand had not been formally approved. The minority shareholders have brought no formal proceedings. The stated fallback is another name, or a return to the Fosun Fashion Group name, at holding level, with the use of the name by Arpège and its subsidiaries, the clothes, unaffected. The wider frame in the same filing: net liabilities of €281.67 million, accumulated losses of €975.68 million, and accounts prepared on a going-concern basis because Fosun International has committed support for at least 36 months from 31 December 2025.

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The post, as it ran

01LANVIN GROUP WROTE DOWN THE WORD LANVIN. 66.7 MILLION EUROS, IN ITS OWN ANNUAL REPORT.
02THE GROUP TESTS EVERY BRAND IT OWNS EVERY YEAR. WOLFORD, ST. JOHN AND SERGIO ROSSI PASSED. THE LANVIN BRAND WAS THE ONE WRITTEN DOWN.
03AND THE WORD ISN'T EVEN HELD BY THE GROUP DIRECTLY. IT SITS INSIDE A FRENCH COMPANY, ARPÈGE, WHERE MINORITY HOLDERS OWN 4.73% AND CERTAIN DECISIONS NEED EACH OF THEIR BOARD MEMBERS TO SAY YES.
04WHEN FOSUN FASHION GROUP RENAMED ITSELF LANVIN GROUP IN 2021, IT ASKED THAT BOARD FOR A LETTER OF PERMISSION. IN SEPTEMBER 2022 A MINORITY HOLDER WROTE BACK: NO FORMAL APPROVAL HAD BEEN GIVEN.
05THE FILING'S FALLBACK: ANOTHER NAME, OR A RETURN TO FOSUN FASHION GROUP. THE MINORITY HOLDERS HAVE BROUGHT NO FORMAL PROCEEDINGS.
06THE ACCOUNTS STAND AS A GOING CONCERN BECAUSE FOSUN HAS PROMISED SUPPORT FOR AT LEAST 36 MONTHS FROM THE END OF 2025. NET LIABILITIES, 281.67 MILLION EUROS. THE NAME ON THE HOLDING COMPANY IS THE PART IN DISPUTE. THE NAME ON THE CLOTHES IS NOT.
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