This photograph taken on February 22, 2018, shows details of mannequins and signs at a Lanvin shop on the Rue du Faubourg Saint-Honore in Paris.
/ AFP / GERARD JULIEN
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As China's shoppers power growth for European luxury brands, Chinese companies want to bring home some of the profits along with their Prada loafers. Fosun International Ltd. acquired a majority stake in French fashion house Lanvin for an undisclosed sum, the Shanghai-based group said Thursday. The Chinese groups have a long way to go to catch up with LVMH, which has a portfolio of 70 prestigious brands, including Christian Dior fashion, Bulgari jewelry and Dom Perignon Champagne.Shandong Ruyi-controlled SMCP SA, which owns Sandro, Maje and Claudie Pierlot, grew 17.5 percent last year at constant currency, selling some of its dresses and handbags for around 250 euros ($307).
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