Toast Lanvin's debut on Wall Street
After ringing the opening bell of the New York Stock Exchange in the morning, jumped into the vortex of Wall Street for the first time, Team Lanvin Group went Thursday night to Altro Paradiso in SoHo to celebrate.
"It's none of business tonight," said Joann Cheng, president and CEO general of Lanvin, which raised $150 million and wrote off debt when it merged with Primavera Capital Acquisition Corp. SPAC and became a public company.
Cheng noted that this was a deal that was both 15 months in the works and , for her at least, had an element of "fate" in it.
Related Galleries"I started my career at KPMG as an accountant," Cheng said, recalling from when her new husband asked her to name three of her dreams.
"As a very young accountant with no real romantic dreams, I gave him some very crazy ideas" , she said. said.
The first was to walk the red carpet. Check.
"My second dream was to have a company listed on the NYSE," she said , noting that back in the day she imagined herself to be a CFO and not a CEO.
Check.
"The third dream, I can't tell you now", she said . "I'll let you know when it happens."
Worth watching as Cheng seems to have a way to achieve his dreams.
Be witness to the list itself.
Lanvin investor and board member Mitch Garber was right when he described the conclusion of the agreement - with a SPAC and in this market - a "financial miracle".
But being a public company requires performing a financial miracle with some regularity.
On this point, Garber said Lanvin – who owns his eponymous brand as well as Wolford, Sergio Rossi, St. John Knits and Caruso – had some serious name recognition on their side.
"If everyone knows the marks, then half the job is done", a-t -he declares.
At least the stock market has started to become more cooperative.
As Lanvin shares went on a rollercoaster ride in their first day, trading more than 130% to close down 25.6% at $7.37 – the stock rebounded on Friday, closing up 26.6% at $9.66.
After ringing the opening bell of the New York Stock Exchange in the morning, jumped into the vortex of Wall Street for the first time, Team Lanvin Group went Thursday night to Altro Paradiso in SoHo to celebrate.
"It's none of business tonight," said Joann Cheng, president and CEO general of Lanvin, which raised $150 million and wrote off debt when it merged with Primavera Capital Acquisition Corp. SPAC and became a public company.
Cheng noted that this was a deal that was both 15 months in the works and , for her at least, had an element of "fate" in it.
Related Galleries"I started my career at KPMG as an accountant," Cheng said, recalling from when her new husband asked her to name three of her dreams.
"As a very young accountant with no real romantic dreams, I gave him some very crazy ideas" , she said. said.
The first was to walk the red carpet. Check.
"My second dream was to have a company listed on the NYSE," she said , noting that back in the day she imagined herself to be a CFO and not a CEO.
Check.
"The third dream, I can't tell you now", she said . "I'll let you know when it happens."
Worth watching as Cheng seems to have a way to achieve his dreams.
Be witness to the list itself.
Lanvin investor and board member Mitch Garber was right when he described the conclusion of the agreement - with a SPAC and in this market - a "financial miracle".
But being a public company requires performing a financial miracle with some regularity.
On this point, Garber said Lanvin – who owns his eponymous brand as well as Wolford, Sergio Rossi, St. John Knits and Caruso – had some serious name recognition on their side.
"If everyone knows the marks, then half the job is done", a-t -he declares.
At least the stock market has started to become more cooperative.
As Lanvin shares went on a rollercoaster ride in their first day, trading more than 130% to close down 25.6% at $7.37 – the stock rebounded on Friday, closing up 26.6% at $9.66.
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