PARIS — Paul Deneve, chief executive officer at Lanvin, has exited the fast-growing fashion house, WWD has learned.
A Lanvin spokeswoman in Paris confirmed his departure Wednesday, citing “diverging points of view” on the direction of the company, which is controlled by Taiwanese publishing magnate Shaw-Lan Wang.
The spokeswoman declined further comment, and said an announcement about Deneve’s successor would be forthcoming. She did not give any time frame.
Deneve is the second top manager to leave Lanvin recently. Last month, Stella McCartney said she tapped Frederick Lukoff, Lanvin’s director of business development, as her new president and chief executive officer, effective Feb. 23.
Deneve joined Lanvin as deputy general manager in 2006 from Nina Ricci, where he had been president. Deneve has also been general manager of Courrèges, and worked at Apple and Exxon prior to that.
His tenure at Lanvin came in tandem with rapid growth for the Paris firm, propelled by designer Alber Elbaz’s seductive designs, and an improving financial picture. In an interview last October, Deneve said Lanvin was on track to become a $200 million fashion house in 2008, with growth forecast at 30 percent last year.
Disclosing key financial figures to WWD at the time, Deneve said Lanvin posted 2007 revenues of 108.6 million euros, or $148.9 million, not including royalty income of 3.7 million euros, or $5.1 million.
That compares with 2005 revenues, excluding royalties, of 67 million euros, or $83.4 million. Dollar figures are converted from euros at average exchange rates for the respective periods.
The gains reflect a retooling of the supply chain, strides in leather goods, and a rejuvenated men’s wear business.
Women’s ready-to-wear represented 42 percent of the Lanvin business in 2007, with men’s wear at 31 percent and accessories for women and men at 27 percent.
Still, the company, which entered the black in 2007 for the first time in a decade and remained so in 2008, has been hamstrung by a lack of investment capital to expand its retail network, which is underdeveloped vis-à-vis its competitors. In 2007, Wang sold Lanvin’s fragrance and cosmetics business to Inter Parfums SA for 22 million euros, or about $30 million, to insure it had the funds necessary to develop the rtw and accessories businesses. It was a move that raised eyebrows in the industry and, according to sources, was a divisive issue in the uppermost echelons of the company.
Since then, Lanvin has pursued modest retail expansion of three to four units a year. There are 10 company-owned stores: four in Europe and six in Asia. There are also 30 stores operated with partners. A women’s wear flagship on London’s Mount Street is slated to open next month.
As reported first in WWD, Wang had been exclusive negotiations until last November with a Qatar-based investor to sell a minority stake in Lanvin, but the talks failed.
Deneve could not immediately be reached for comment.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)