PARIS — Lanvin is zeroing in on its next chief executive officer in Jean-Philippe Hecquet, ceo of Sandro, according to market sources.
Hecquet, who has held the role at the fast-growing French fashion chain since 2014, submitted his resignation and is expected to take up a new post in the fall, these sources said.
A spokeswoman for Lanvin told WWD she could not confirm any hire and that its search is ongoing. SMCP confirmed Hecquet’s departure and said a new Sandro ceo would be appointed soon.
Finding a new business leader at Lanvin has been among the first orders of business for Fosun International, which acquired the French luxury house in February, ousting creative director Olivier Lapidus and general manager Nicolas Druz, sparking speculation about who might take on the daunting task of rebuilding the cash-strapped label.
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It is understood the search for a new designer is ongoing, with Lanvin aiming to reveal its new management and creative duo in the fall. Designer names in the frame are said to include Haider Ackermann, Carven’s Serge Ruffieux and Simon Porte Jacquemus.
Hecquet has significant experience in luxury retail, having been international retail director for Tag Heuer for two years, according to his LinkedIn profile.
Before that, he spent eight years at the flagship brand of LVMH Moët Hennessy Louis Vuitton, acting as country head in Canada for Vuitton, vice president of operations in North America, logistics and supply chain manager in Hawaii and category manager in watches and jewelry in Paris.
His résumé includes stints at Mercedes-Benz France and online car sales start-up Latitudes-Diffusion.com.
Joann Cheng, president of Fosun Fashion Group and chairman of the board of Lanvin, is the interim ceo at the fashion house.
Druz, a close associate of former majority shareholder Shaw-Lan Wang, had led the brand since mid-2017 and took up the position of managing director of Fosun Fashion Group, supporting the Chinese company’s business expansion in Europe, Lanvin indicated in March.
Women’s collections are being designed by an in-house team, and Lapidus returned to his own label.
“By being a part of the Fosun Fashion Group, Lanvin’s future growth can leverage resources from the expansive global platform of Fosun’s established companies and experts,” Cheng said in March.
The oldest French fashion house still operating has seen sales erode since a peak of 235 million euros in 2012. Revenues totaled 110 million euros in 2017, with a net loss of 52 million euros, and are projected to shrink to 85 million euros this year, with losses seen at 40 million euros, according to a source with knowledge of the label’s finances.
Lanvin has struggled to find its footing since dismissing creative director Alber Elbaz in October 2015, following disagreements between the designer and Wang over the company’s direction. Elbaz catapulted the brand’s notoriety during his 14-year tenure.
Fosun beat Qatari rival Mayhoola Group to win control of Lanvin, which was facing a liquidity crisis. The acquisition added a luxury asset to Fosun Fashion Group, which has been given a mandate to invest globally in the fashion and retail industries to leverage the momentum in Chinese consumer spending.
The division aims to create long-term value through a variety of strategic initiatives, including brand building, product development, strategic alliances, entry into new channels and marketing.
Fosun, which is active in the health, property and mining sectors, made its first move into fashion in 2011 with the acquisition of a minority stake in Greek jewelry brand Folli Follie. In 2013, it invested in the Italian tailor Caruso, assuming control of the company last year, and in 2014 it entered the capital of German fashion brand Tom Tailor Holding AG. Fosun also holds a stake in St. John Knits Inc., the American heritage knitwear brand.