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Iconic luxury French label, Lanvin, is said to be in talks with potential investors for the sale of a majority stake.
Qatari investor Mayhoola Group, owner of luxury labels such a as Valentino and Balmain, is said to be among the number of potential buyers but, reportedly, does not agree with the high asking price.
As previously reported by ILM, Lanvin, which allegedly made a net loss of €18.3 million in 2016, had not gone ahead with the planned capital increase in December and management was trying to revive the business by the end of March 2018.
Previous potential investors are said to include Michael Kors Holdings and French luxury conglomerate Kering, but the latter turned down the acquisition due to “the high level of investment required to restore the house to financial health."
Lanvin risks liquidity if an acquisition deal fails to go ahead in the coming weeks.