[File photo]

Lanvin, an old French fashion brand, was bought by Chinese conglomerate Fosun recently.

As one of the eldest surviving fashion houses in France, Lanvin has been synonymous with "elegance" for one and half a century.

But in recent years it has fallen out of favor with no creative new designs from 2015.

Now, its Chinese owner will breathe new life to the old icon. Fosun is expected to invest about $88 million in a bid to restore Lavin and bring back its glory.