Shares of Lanvin Group (NYSE: LANV) rocketed 86.7% higher this week compared to where they closed last Friday, according to data from S&P Global Market Intelligence, after Chinese conglomerate Fosun International disclosed it had acquired more than 2% of the French luxury brand in a private placement. 

Fosun acquired a controlling stake in Lanvin in 2018 with the intention of taking the old fashion house public. Lanvin went public on Dec. 15 after completing a reverse merger with special purpose acquisition company (SPAC) Primavera Capital Acquisition. 

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Source Fool.com