Taiwanese media magnate Shaw-Lan Wang said on Tuesday that she would inject fresh funds into Lanvin before the end of the year amid reports that the luxury firm is struggling.
“Mrs. Shaw-Lan Wang has always believed in the house of Lanvin, and believes in its future and its talented teams who are working with a lot of positive energy to implement a plan that will restore Lanvin to the position it deserves,” the company said in a statement.
“For that matter, she has taken the decision to inject funds before the end of 2017 to support future initiatives. Several areas of development will be announced before the end of the year,” it added.
Wang said she stood by the appointment of Lapidus, noting that he won a Dé d’Or (Golden Thimble) award in 1994 for his haute couture designs.
A spokesperson for Lanvin said the company would not confirm any sales figures before the end of the year.
More from NEWS
IHG announced that following an extensive refurbishment due to commence in early 2020, InterContinental Hong Kong, originally a Regent, will …
Intercontinental Hotels Group is reportedly working with a property investor to participate in the £1.2 billion (US$1.7 billion) auction of …