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Lanvin Group installs M&A-savvy CFO to sharpen capital and scale up

Bottom Line Impact

A capital-markets oriented CFO can unlock 150-250 bps EBITDA margin expansion within 12 months, improve funding for brand turnarounds, and position Lanvin Group as a credible mid-cap consolidator without diluting brand equity.

Key Roles Affected

CFOCEOCMOCOO

Executive Summary

Lanvin Group has appointed Jiyang Han as CFO effective 1 Nov 2025, signaling a push to strengthen capital markets engagement, accelerate cost discipline, and enable portfolio actions. His 20-year finance and M&A background across China and global corporates positions the group to fund brand turnarounds, pursue selective deals, and improve investor credibility in 2026.

Actionable Insights

Immediate Actions (Next 30-90 days)
Launch a zero-based budgeting sprint and a 13-week cash flow cadence across brands, with a 90-day target of 100-150 bps SG&A reduction and 10-15 day inventory DOH improvement.
Rationale: Immediate cost visibility and cash release fund brand refreshes without dilutive financing and establish credibility with investors.
Role affected:CFO
Urgency level:immediate
Short-term Actions (6-12 months)
Initiate a portfolio review with a buy-fix-sell framework and an M&A screening list of 5-7 targets or licensing opportunities meeting 15%+ IRR and sub-3x leverage thresholds.
Rationale: Sharpening capital allocation and optionality can accelerate scale and exit non-core assets before 2026 planning is locked.
Role affected:CEO
Urgency level:short-term
Reallocate 10-15% of brand marketing to performance and CRM tied to hero-product sell-through and repeat rates; pause low-ROI wholesale coop.
Rationale: Demand-side efficiency supports margin expansion while finance tightens inventory and reduces markdown reliance.
Role affected:CMO
Urgency level:short-term
Strategic Actions
Consolidate tier-1 suppliers by 10-15% and pilot nearshoring for knitwear and leather in EU to cut lead times by 20% and improve full-price sell-through.
Rationale: Shorter cycles and fewer vendors improve working capital and lower markdown risk in a volatile demand environment.
Role affected:COO
Urgency level:strategic

Strategic Analysis

Next 30-90 days: stand up a CFO transition office; finalize FY2026 budget and cash plan; launch a groupwide cost and working-capital diagnostic targeting 100-150 bps SG&A savings and a 10-15 day reduction in inventory DOH; centralize treasury and FX policy; define capital allocation guardrails and investor messaging ahead of 2026 guidance.

Over 6-12 months: execute a finance operating model upgrade (shared services, analytics, and controls), harmonize ERP and reporting, and implement category-level ROI gates; pursue portfolio actions (bolt-on acquisitions or selective divestitures/licensing) with hurdle rates of 15%+ IRR; aim for EBITDA margin expansion of 150-250 bps, +5 pts DTC mix, and net debt to EBITDA below 2.5x by YE2026.

A capital-markets oriented CFO narrows the capability gap versus larger conglomerates by enabling faster reallocation of capital to winners, disciplined pruning of underperforming doors, and readiness for sub-$250m bolt-ons. China-centric M&A and corporate experience can unlock onshore partnerships and local financing, improving cost of capital versus mid-cap peers.

Suppliers: vendor base rationalization (10-15%) and tighter payment terms standardization; Partners: wholesale allocations tied to full-price sell-through, potential shift away from consignments; Customers: tighter SKU curation and inventory discipline to raise full-price mix 200-300 bps; Internal: shared services and analytics to reduce closing cycle by 20-30%.

Risks & Opportunities

Primary Risks

  • Execution risk on cost and working-capital programs leading to disrupted deliveries or talent attrition
  • Capital markets volatility and low liquidity potentially limiting financing flexibility and M&A timing
  • Cross-border regulatory and geopolitical friction affecting China-related partnerships and data flows

Primary Opportunities

  • Rapid SG&A and sourcing savings delivering 150-250 bps EBITDA uplift within 12 months
  • Local partnerships and financing in China to reduce cost of capital and accelerate DTC growth
  • Portfolio optimization via selective bolt-ons or licensing and pruning underperforming doors by 5-10%

Market Context

The appointment aligns with a luxury cycle prioritizing profitability over pure growth amid China softness, cautious US aspirational demand, and moderating pricing power. Mid-cap luxury players face wholesale normalization, elevated inventories, and investor scrutiny on cash generation; adding a CFO with M&A and IR strength can compress valuation discounts versus larger peers by delivering credible cost-out, DTC mix gains, and disciplined capital allocation. Sustainability and supply resilience pressures also favor nearshoring, vendor consolidation, and tighter SKU architectures that a finance-led operating model can enforce.

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