Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Stock Exchange of Hong Kong  >  Fosun International Limited    0656   HK0656038673

FOSUN INTERNATIONAL LIMITED

(0656)
  Report  
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Fosun International : Talk With the New Trend

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/01/2019 | 06:28am EDT

By Lanvin CEO, Jean-Philippe Hecquet

I joined Lanvin months ago, because I think Fosun shares the same important values with me. I see we have many common appreciations. When I met Chairman Guo, I was very impressed by the values he mentioned to me. The true values in life - loyalty, family, ambitions, respect, demanding yet rewarding, as well as always look at things in a very positive way.

I joined Lanvin also because of the brand itself. The icon brand has been running for over 130 years, up and down. It's a little bit like a dusty brand now, might seems being disappeared for a while, but she's always there.

Lanvin tried to recruit me years ago, but I want to make sure we have the right investors, because we need money and time to turn around a brand. Miracle doesn't exist because of nothing. When Fosun met me, I said to myself - Lanvin is a unique and beautiful brand, and Fosun is a beautiful investor behind - they trust the brand and trust me. It was the right moment for me to join.

That was the very reason why I moved to Lanvin, and today I've been working on works for the best performances. It is very important for me to have a connection with the brand. I hear a lot of good advice about the brand from press, from customers, and from department stores. For me, it means there is a chance to be better and to shine again. People are waiting for us to be back and be strong. It provides wonderful challenges.

Earlier in my career, I spent 15 years with LVMH, the best retail company in the luxury industry. I learned a lot in different positions and different countries during that time. One of the experiences that I learned was that, when you want to move to fast fashion or focus on accessories, things will move faster. You'd better have a lighter organization, comparing to the elephant phenomenon but being with a luxury brand.

That's what I'm always saying to my team in Lanvin - We are smaller, and we take advantage of being small. We should be fast, we should be agile and do the things that the big brands cannot do. If you have 500 or 600 stores in the world, you can't move as quickly as Lanvin, which just has 25 stores. We can do more things.

Now we are doing everything ourselves in a smaller company. It's like a rebirth: we need to design how we are going to express ourselves, what the digital experience are, operations, talent organization, etc. Some of the positions even did not exist in Lanvin in the past, and now we are working on them.

I think we are on the right track for digital strategy, especially in Chinese market. For us, we need to bring the brand back to life. Being digital is our critical strategy for recovery. When I say digital, it's more of e-commerce and content on social media, especially in Chinese market. Chinese market is different from European and the U.S. market. We need to position our brand in a smart way, in which show respect to Chinese customer, also could listen to their needs, and their expectations.

Nowadays, people are very well educated in China. They know fashion, and they are very independent. They know what they want to wear and they have seen a lot. They are not loyal to one brand. They pretend to mix brands. Chinese market is very important in our strategy and we are working on that with Fosun Fashion Group.

We will need to improve our social media presence. We know the most important on internet in China is KOL (key opinion leader). We define our online strategy around KOL, around friend and families, help us to communicate for the brand. It's so powerful and influential.

Offline is still very important. In the US and in France we need magazine interviews. But in the U.S. and France market, we also want to be presented with KOL, with friends and families, which should be movie stars or singers.

I think clients are not buying a brand, they aren't buying logos, they are buying the products and an experience. They buy it because they like it. Product should be more important than the brand. Today the customers are more mature. A customer can wear a Chanel bag, have a Lanvin dress, an Armani glasses, they are mixing all several dress. They thought that's the way of expressing who they are. They could present different moment of their life with accessories, and I want our customers to wear Lanvin for special moments in their lives.

We could also dress young customers - 14 or 15 year old or even younger. Millennials is an important target group in our new strategy. I believe with our new Creative Director, Bruno Sialelli, we will have the products for millennials. That's why we've been looking for designers who are able to redefine the brand, to bring the young power in our brand. Our new creative director is young, and he is going to bring youth, more dynamism and joyful coolness to the brand. I'm confident with our products. Once you have the products, you know how to speak to the customers, how to help them to understand that Lanvin is back, and now Lanvin is a cool brand.

We are always thinking about how we could do better and be more accurate when we speak to customers. The designer could be very creative, but we as managers need to help him get on reactions on the new trends, specifically when you want to be a global brand. You could have a different reaction to the trends than other brands in the market. That's very important and that's what we are trying to balance.

What's important for us in 2019? I think it is going back to basics. Let's focus on the key categories. Let's focus on key markets. Luxury brands have changed a lot in the past few years. We are moving on for a very steady, formal type of matured brands. If you don't catch up with the customers' demand with the new generation, you are out of the game. That is a true change.

Disclaimer

Fosun International Limited published this content on 01 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2019 10:27:07 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FOSUN INTERNATIONAL LIMITE
10/08FOSUN INTERNATIONAL : Letter to non-registered holders - notification letter and..
PU
10/08FOSUN INTERNATIONAL : Letter to registered holders - notification letter and cha..
PU
10/08FOSUN INTERNATIONAL : Extraordinary general meeting form of proxy
PU
10/08FOSUN INTERNATIONAL : Proposed adoption of the ftg share option scheme
PU
10/08FOSUN INTERNATIONAL : Proposed adoption of the yuyuan tranche i employee share o..
PU
10/08FOSUN INTERNATIONAL : Connected transaction - issue of new shares under the shar..
PU
10/07FOSUN INTERNATIONAL : Establish “1+N” Ecosystem on a Daily Basis
PU
10/03FOSUN INTERNATIONAL : Monthly return as at 30 september 2019
PU
09/27FOSUN INTERNATIONAL : Announcement - statement regarding market speculation
PU
09/25FOSUN INTERNATIONAL : Joint announcement - the proposed spin-off and separate li..
PU
More news
Financials (CNY)
Sales 2019 120 B
EBIT 2019 26 720 M
Net income 2019 14 712 M
Debt 2019 81 785 M
Yield 2019 3,99%
P/E ratio 2019 5,16x
P/E ratio 2020 4,77x
EV / Sales2019 1,32x
EV / Sales2020 1,25x
Capitalization 77 492 M
Chart FOSUN INTERNATIONAL LIMITED
Duration : Period :
Fosun International Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FOSUN INTERNATIONAL LIMITE
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 13
Average target price 14,03  CNY
Last Close Price 9,08  CNY
Spread / Highest target 87,7%
Spread / Average Target 54,6%
Spread / Lowest Target 9,51%
EPS Revisions
Managers
NameTitle
Qun Bin Wang Chief Executive Officer & Executive Director
Qi Yu Chen Co-President & Executive Director
Xiao Liang Xu Co-President & Executive Director
Guang Chang Guo Chairman
Linnan Xue Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
FOSUN INTERNATIONAL LIMITED-12.24%10 927
ALLIANZ SE21.99%98 300
CHUBB LIMITED19.72%70 737
ZURICH INSURANCE GROUP33.30%56 970
MARSH & MCLENNAN COMPANIES23.13%49 456
AMERICAN INTERNATIONAL GROUP INC37.88%47 567