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Chinese luxury goods vendor Lanvin Group (NYSE:LANV) stock jumped 18% on Monday in the wake of last week's announcement that its chief financial officer was stepping down.
Lanvin shares opened at $6.28, slipping to an early low of $6.09 before climbing to a high of $7.70 mid-morning. The stock recently changes hands at $7.21 at around 12:15 p.m. ET.
Shares of Lanvin rallied last week when the company announced that CFO Shang Koo had resigned from the company. Lanvin Executive President David Chan will serve as interim CFO until a successor is found.
Lanvin plans to release its preliminary 2022 financial results and 2023 outlook on Feb. 17.
A unit of Chinese conglomerate Fosun International, Lanvin owns several luxury goods brands, including Wolford, Sergio Rossi and St. John's Knits. Lanvin went public in late December through a merger with SPAC Primavera Capital with an estimated the enterprise value of $1.5B.
For more on Lanvin, check out Bamboo Works' "Newly Listed Lanvin Has Investors Blowing Hot and Cold."