Lanvin Group has completed the strategic spin-off of Italian luxury menswear brand Caruso, sharpening its focus on core brands amid continued volatility in the luxury market.

The group confirmed that Caruso has been acquired by MondeVita Italy, a subsidiary of Abu Dhabi-based Mondevo Group, ending Lanvin Group’s ownership of the heritage tailoring house. Financial terms of the deal were not disclosed.

Founded in 1964 and headquartered in Soragna, Italy, Caruso is known for its high-end tailoring and manufacturing expertise. The brand operates mainly through wholesale channels and select retail partnerships across Europe, Asia and the US.

Lanvin Group said the divestment aligns with its broader strategy to streamline operations and concentrate resources on its core luxury labels. The transaction follows a wider restructuring effort aimed at improving operational efficiency and long-term profitability.

Fosun Group, now rebranded as Lanvin Group, became Caruso’s majority shareholder in 2017 through a capital increase, following its 2013 acquisition of a 35 per cent stake.

Earlier last year, the China-based group reported a double-digit decline in annual sales as it continued to implement its turnaround strategy.