Lanvin Group CFO resigns ahead of financial outlook report

Luxury fashion conglomerate Lanvin Group has said that its chief financial officer Shang Koo announced his intention to resign.

While the search for Koo’s replacement goes ahead, David Chan, the group’s executive president, will serve as interim CFO.

Chan will also retain his current role, overseeing the group’s activities including acquisitions, brand operations, strategy, recruitment and management of guidelines for the portfolio brands.

Koo’s departure comes ahead of Lanvin Group’s unaudited full-year 2022 preliminary revenue results report, scheduled for February 17, 2023, during which it will also discuss the outlook for 2023.

It will be the first financial announcement the group has made since it became a listed company on the New York Stock Exchange in December 2022.

The move was met with a rocky start, however, with its first day of trading seeing shares fall by 25 percent.

Despite this, chairman and CEO, Joann Cheng, still remained positive in her sentiments.

In a press release, Cheng said: “For our first financial announcement as a newly listed company, we look forward to providing an early understanding of last year’s revenues, ahead of the release of our final audited 2022 financial results in April.

“I would also like to express my sincere gratitude to Shang for his contribution to Lanvin Group, particularly during the group’s listing process. We wish him every success in his future endeavours.”