Lanvin Group Resiliency was Key in 2023, Preliminary Revenues Up 1% Year-on-Year

Revenue of €426 million for FY2023, a 1% increase over FY 2022
Despite challenging conditions, Lanvin Group grew revenue by 8% in APAC
Resiliency through creative transition at Lanvin brand helped improve sales trend in the second half of 2023
Positive signals in the DTC channel, including e-Commerce are proving the effectiveness of the Group’s strategy
Ongoing implementation of strategic plans in 2023 to drive further revenue growth and margin improvement

NEW YORK, Feb. 21, 2024 /PRNewswire/ — Lanvin Group (NYSE:LANV, the “, Group”, )), a global luxury fashion group with Lanvin, Wolford, St. John, Sergio Rossi, and Caruso in its portfolio of brands, today announced its preliminary, unaudited revenues for the full-year 2023. The Group achieved revenues of €426 million, a 1% increase year-over-year versus 2022. 

Eric Chan, CEO of Lanvin Group, said: “2023 was a year full of macroeconomic headwinds and global challenges. Lanvin Group showed tremendous resilience and continued on its growth trajectory. 2023 was also a year that our group and our brands proved their ability to manage through adverse market conditions and execute their strategy. A softening second half saw the luxury fashion industry in a position it has not been in, in quite some time. Therefore, I am pleased to report that Lanvin Group maintained growth for the year; and I am confident in our management’s ability to continue to build upon the foundation we have built on our path to profitability.”

Review of the Full-Year 2023 Preliminary, Unaudited Revenues

Selected Highlights

The Group drove results through a softening market in the second half: Lanvin Group maintained growth through a transitional year with 1% year-on-year growth. The Group continued improving its retail network and expanding its e-commerce footprint. Successful product launches and marketing campaigns generated brand heat allowing for resiliency in revenues during a challenging market.

Store network rationalization: The Group continued to rationalize its store footprint and had an overall reduction in its store-base by a total of 12 stores. Despite the smaller store base, Group DTC sales remained flat on a like-for-like basis. St. John and Sergio Rossi posted strong store like-for-like growth with 13% and 6%, respectively.

Lanvin brand showed improving result in the second half: Lanvin brand performed better in the second half of the year in spite of the increasingly softening market. The brand successfully managed through a year of creative transition, but was impacted by a softer wholesale market. The establishments of the Leather Goods and Accessories department and Lanvin Lab, with the first Lanvin Lab capsule successfully launched with the Grammy-winning artist, Future in Q4, started to make positive impacts in the second half and will continue to do so in 2024. While first half revenue decreased by 11%, the brand ended the year down 7%.

Stability in North America and EMEA, and growth in APAC despite economic challenges: Management successfully navigated an increasingly challenging market to maintain revenue growth for 2023. North America grew slightly while EMEA decreased slightly. In Asia, …

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