Fosun said its valuation gives Lanvin an estimated price-to-sales (P/S) ratio of 2.7, based on its forecast for 473 million euros ($520 million) in sales this year. That looks quite modest compared to P/S ratios of 4.9 for global leader LVMH (MC.PA), 4.1 for Gucci parent Kering (KER.PA) and a lofty 14.5 for Hermes (RMS.PA). A big reason for the big discount is probably Lanvin's newness as a company, and its money-losing status. Fosun only acquired the Lanvin brand in 2018, and it purchased most of the others even more recently.