Lanvin Group faces double-digit revenue decline in 'transitional year' 2024

Credits: Lanvin Group The annual results for the Chinese fashion group Lanvin Group Holdings Limited are marked by a "transitional year" in which the company strategically adjusted its creative direction and operations. The owner of the Lanvin fashion house and the Wolford, Sergio Rossi, St. John, and Caruso brands reports a double-digit revenue decline for fiscal year 2024, according to preliminary results released on Friday. Lanvin Group's total revenue reached 328.2 million euros, marking a 23 percent decline. The Chinese fashion group saw wholesale sales decrease by 28 percent, while direct-to-consumer sales fell by 19 percent. Wolford, which announced its results a day before Lanvin Group, generated the most revenue at 87.7 million euros. However, the brand experienced a 31 percent decline in sales. Wolford is followed by the flagship brand, which brought in 82.7 million euros. Lanvin also recorded a double-digit sales decline of 26 percent. Sergio Rossi joins the list with a 30 percent drop in sales and revenue of 41.9 million euros. These latter brands faced headwinds across the sector. The St. John and Caruso brands demonstrated resilience and stability, according to the annual report. The brands kept their sales declines relatively low, with decreases of 12 and 7 percent, respectively. This, according to the parent company, underscores "the strength of their loyal customer base and distinctive market positioning." Geographically, Lanvin Group saw weaker demand in the EMEA region (Europe, the Middle East, and Africa) and Greater China, with sales declining by 28 and 37 percent, respectively. EMEA remains the largest market for Lanvin Group, accounting for 145.3 euros million in revenue. Wholesale appears to have been most affected due to "cautious distributor sentiment," which particularly impacted Lanvin and Sergio Rossi. The Greater China market underperformed, so the group is now implementing targeted strategies to reignite growth. North America and Japan played a more stable role this year, with sales in these markets declining by thirteen and twelve percent, respectively. Looking ahead to fiscal year 2025, Lanvin Group remains committed to its long-term vision, according to the annual report. To stimulate growth, the company strengthened its management under the leadership of new executive chairman Andy Lew and by opening a second headquarters in Europe to bolster its local presence. Furthermore, the Chinese fashion group reports that the relatively new creative directors at Lanvin and Sergio Rossi are expected to drive growth for the brands. This article originally appeared on FashionUnited.NL. It was translated to English using AI. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com

Feb 28, 2025 - 15:20

Lanvin Group faces double-digit revenue decline in 'transitional year' 2024

The annual results for the Chinese fashion group Lanvin Group Holdings Limited are marked by a "transitional year" in which the company strategically adjusted its creative direction and operations. The owner of the Lanvin fashion house and the Wolford, Sergio Rossi, St. John, and Caruso brands reports a double-digit revenue decline for fiscal year 2024, according to preliminary results released on Friday.

Lanvin Group's total revenue reached 328.2 million euros, marking a 23 percent decline. The Chinese fashion group saw wholesale sales decrease by 28 percent, while direct-to-consumer sales fell by 19 percent.

Wolford, which announced its results a day before Lanvin Group, generated the most revenue at 87.7 million euros. However, the brand experienced a 31 percent decline in sales. Wolford is followed by the flagship brand, which brought in 82.7 million euros. Lanvin also recorded a double-digit sales decline of 26 percent. Sergio Rossi joins the list with a 30 percent drop in sales and revenue of 41.9 million euros. These latter brands faced headwinds across the sector.

The St. John and Caruso brands demonstrated resilience and stability, according to the annual report. The brands kept their sales declines relatively low, with decreases of 12 and 7 percent, respectively. This, according to the parent company, underscores "the strength of their loyal customer base and distinctive market positioning."

Geographically, Lanvin Group saw weaker demand in the EMEA region (Europe, the Middle East, and Africa) and Greater China, with sales declining by 28 and 37 percent, respectively. EMEA remains the largest market for Lanvin Group, accounting for 145.3 euros million in revenue. Wholesale appears to have been most affected due to "cautious distributor sentiment," which particularly impacted Lanvin and Sergio Rossi. The Greater China market underperformed, so the group is now implementing targeted strategies to reignite growth. North America and Japan played a more stable role this year, with sales in these markets declining by thirteen and twelve percent, respectively.

Looking ahead to fiscal year 2025, Lanvin Group remains committed to its long-term vision, according to the annual report. To stimulate growth, the company strengthened its management under the leadership of new executive chairman Andy Lew and by opening a second headquarters in Europe to bolster its local presence. Furthermore, the Chinese fashion group reports that the relatively new creative directors at Lanvin and Sergio Rossi are expected to drive growth for the brands.

This article originally appeared on FashionUnited.NL. It was translated to English using AI.