52.5 F
Laguna Hills
Thursday, Dec 12, 2024
-Advertisement-

St. John Parent Goes Public

Luxury fashion group raises over $150M 

Shares of Lanvin Group, the parent of Irvine’s St. John Knits, grew 6.4% to $8.12 apiece today during midday trading.

The parent company yesterday went public yesterday via a special purpose acquisition company, where it opened at $10 (NYSE: LANV). The group said it was valued around $1 billion at the time the reverse merger was completed.

Along with four other retail subsidiaries, St. John’s Global Chief Executive Andy Lew joined his fellow executives at the ringing of the opening bell Thursday to mark Lanvin’s entrance as a new public entity. Over $150 million was raised for Lanvin in the reverse merger.

For more on Lanvin Group and St. John, see the Dec. 19 print edition of the Business Journal.

Want more from the best local business newspaper in the country?

Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!

-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-
-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-