Dive Brief:
- Lanvin Group CEO Eric Chan is stepping down from his role and will become a director on the company’s board, according to a press release Thursday. A replacement wasn’t named.
- The group also announced that Andy Lew, CEO of its St. John Knits brand, would become the executive president of Lanvin Group, which also owns Sergio Rossi, Wolford, Caruso and its namesake brand.
- The changes are meant to “strengthen [Lanvin’s] position in the luxury fashion industry and further advance its strategic goals,” the company said in the release. It added that the changes reflect the company’s commitment to driving innovation and growth.
Dive Insight:
Like several of its luxury peers, the Lanvin Group has been hit by weak consumer demand in the sector. The company’s 2024 first half revenue dropped 20% to 171 million euros, or about $176 million, according to an August earnings report.
The new executive changes, along with naming a new artistic director at Lanvin and a new creative director at Sergio Rossi last year, show that the group is looking to turn things around.
As executive president, Lew will lead a second company headquarters in Europe to support Lanvin Group’s global expansion. His other responsibilities include overseeing company operations, which include strategic implementation, business development and growth, financial management, supply chain, information technology and brand operations, per the release.
“Establishing a second headquarters in Europe under Andy’s leadership underscores our commitment to strengthening our global operations and market presence,” Zhen Huang, chairman of the Lanvin Group, said in the release. “...With Andy’s exceptional expertise and the strengthened Board, I am confident we will exceed our strategic goals and deliver even greater value to our stakeholders.”
Lew will remain “a key leader” at St. John Knits and daily operations of the brand will be managed by a newly created management committee, per the release.
David Chan, who is CFO, also holds the executive president position. His role remains unchanged with Lew's promotion, according to a company spokesperson.
In addition to adding Eric Chan to its board of directors, the company announced board member Grace Fang would be replaced by Alan Liu.
Correction: A previous version of this article misidentified David Chan's role. He is CFO and still holds the executive president position.