<\/p>\n
\n\tThe changes keep coming at Lanvin Group.<\/p>\n
\n\tAmerican executive Siddhartha Shukla, who has been spearheading an upscaling drive at Lanvin, is stepping down from his role as deputy chief executive officer of the Paris-based fashion house, WWD has learned.<\/p>\n
\n\tIn a brief statement shared exclusively with WWD, Lanvin characterized his exit as \u201cby mutual agreement,\u201d noting that Andy Lew, executive president of Lanvin Group, and chairman and CEO of Lanvin, will \u201ccontinue to oversee the brand and its strategic ambitions, ensuring continuity and supporting the leadership teams.\u201d<\/p>\n
\n\t\u201cI would like to thank Siddhartha Shukla for his contribution to Lanvin during these past four years,\u201d Lew said in the statement. \u201cWe wish him every success in his future professional endeavors.\u201d<\/p>\n
\n\tHis next move could not immediately be learned.<\/p>\n
\n\tFor his part, Shukla stated: \u201cGuiding the brand and business of Lanvin has been one of the greatest challenges and greatest honors of my career. As I step down after four remarkable years, I do so with immense pride in what we have achieved together and with enduring confidence in the team\u2019s ability to carry forward our convictions and our shared vision for this treasure of French fashion and culture.\u201d<\/p>\n
\n\tPreemptively squelching speculation about a designer change, which has been coming thick and fast at the tail end of fashion month, the statement said, \u201cLanvin management is fully committed to the continued development of the house under the artistic direction of Peter Copping.\u201d<\/p>\n
\t\t\t\t\tLanvin, fall 2026<\/p>\n
\t\t\t\t\t\t\t\t\tAlessandro Lucioni \/Courtesy of<\/p>\n
\n\tShukla\u2019s departure comes amid broader management turbulence and strategic U-turns at the upstart luxury group, which assembled a clutch of brands with proprietary production facilities \u2014 Sergio Rossi, Wolford, St. John and Caruso \u2014 only to recently offload factories once dedicated to Wolford and Sergio Rossi, and sell Caruso outright.<\/p>\n
\n\tThe publicly traded luxury player also recently named new CEOs at St. John and Wolford, and parted ways with Paul Andrew, creative director at Sergio Rossi. <\/p>\n
\n\tLanvin Group went public in late 2022 in a SPAC deal that was priced at $10 a share, but was immediately met with skepticism by investors, who traded the shares down 25 percent on its first day. The stock closed up 11.6 percent to $2.12 on Thursday, leaving the firm with a market capitalization of $296 million. <\/p>\n
\n\tThe stock declined in tandem with the company\u2019s financial performance. <\/p>\n
\n\tWhile the group had grown at 30 percent-plus during the two years before its offering, it inched up with just a 0.9 percent gain in 2023 and was down 22.9 percent in 2024, in what the company described as \u201ca year of transformation\u201d when operations were optimized and a new course was set for the future. <\/p>\n
\n\tFor the six months ended June 30, total sales fell 22 percent to $133 million. <\/p>\n
\n\tThat included a 42.1 percent drop to $27.9 million for the Lanvin brand, which was hit by a generally difficult industry trend, a contraction of the wholesale business and cuts to the store base. The negative impact was then compounded by what sources described as a lack of regular financial support from the parent company, the absence of marketing and late deliveries. <\/p>\n
\n\tAll together, Lanvin is a storied brand that\u2019s been in a tough spot for a while.<\/p>\n
\n\tShukla was recruited in December 2021 from Theory by Joann Cheng, then chairwoman of\u00a0Lanvin\u00a0and Lanvin Group, lauding the executive as a \u201cchange maker\u201d with in-depth experience across the luxury and contemporary segments, including marketing initiatives, product innovation and business transformation.<\/p>\n
\n\tAmong his key decisions was parting ways with designer Bruno Sialelli, whose chunky, fat-laced Curb sneakers and cat-handle handbags were propelling the house, but warping its image.<\/p>\n
\n\tShukla conscripted photographer Steven Meisel to do a series of \u201cCharacter Studies\u201d campaigns that telegraphed a quieter form of chic linked to Lanvin\u2019s claim to fame as the oldest fashion house in Paris.<\/p>\n
\n\tEventually, the executive settled on Copping \u2014 a seasoned talent whose r\u00e9sum\u00e9 includes stints at Balenciaga, Nina Ricci, Oscar de la Renta and Louis Vuitton \u2014 tasking him with steering the brand back to its legacy as a purveyor of \u201cchic ultime.\u201d<\/p>\n
\n\tCopping\u2019s fall 2026 collection for Lanvin, widely praised, settled into a groove of grown-up dressing with a \u201820s flavor, and his women\u2019s ready-to-wear and shoes have been showing good commercial traction, according to sources.<\/p>\n
\n\tShukla had an eventful tenure, accompanying Lanvin Group as it listed on the New York Stock Exchange in 2022.\u00a0<\/p>\n
\n\tCheng departed the group in 2023 and was subsequently succeeded by Eric Chan and then Lew. David Chan, a founding partner of Lanvin Group, also exited last October from his role as executive president and chief financial officer.<\/p>\n
\n\tShukla was not present at the Lanvin show on March 6 during Paris Fashion Week, with Lew taking pride of place in the front row.\u00a0<\/p>\n
\n\tA brainy, indefatigable executive with a passion for brands and products, Shukla enjoyed\u00a0an eight-year career at Theory, rising from chief marketing officer to chief merchandising officer and ultimately chief brand officer.<\/p>\n
\n\tPrior to that he was vice president of marketing and communications at Reed Krakoff. He started his career in a variety of PR posts in the U.S. at\u00a0Yves Saint Laurent\u00a0and Gucci, ultimately moving to Paris to become YSL\u2019s global communications director from 2006 to 2012.<\/p>\n
\t\t\t\t\tLanvin, fall 2026<\/p>\n
\t\t\t\t\t\t\t\t\tAlessandro Lucioni \/Courtesy of<\/p>\n
#Siddhartha #Shukla #Stepping #Lanvins #Deputy #CEO<\/p>\n","protected":false},"excerpt":{"rendered":"
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