Lanvin Group, which owns French fashion house Lanvin and Italian shoemaker Sergio Rossi, said it sold Italian menswear manufacturer Caruso to Abu Dhabi-based Mondevo Group.
Lanvin said the sale fits its strategy of focusing on the development of its “heartland brands,” or consumer-facing labels, which tend to have higher profit margins than white label manufacturers like Caruso.
Financial terms of the deal weren’t disclosed.
Caruso, which employs about 450 people, is based in the small town of Soragna in Northern Italy near Parma. It produces menswear from some of the industry’s top names. The brand’s revenue fell 11 percent in the first half of 2025 to €17.6 million and accounted for 13 percent of Lanvin group revenues.
Lanvin has been hit hard by the luxury industry’s slowdown, with revenue dropping 22 percent in the first six months of last year. Revenue at the Lanvin brand, the group’s biggest, fell 42 percent in the first half.
Investors based in the Gulf also own Italian luxury labels Valentino and Roberto Cavalli.
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