Lanvin Group, despite facing a decline in sales for its Lanvin brand, has reported robust sales growth in the first half of 2023. The Chinese-owned company revealed that its revenue for the first six months of the year reached €215 million, marking a 6.4% increase compared to the previous year.
The group’s overall sales growth was attributed to positive performance across all regions and channels. Greater China witnessed the most substantial growth, with sales increasing by 13.9%. The EMEA region and North America also experienced growth, with increases of 5.3% and 2.6% respectively. Additionally, Asia outside of Greater China saw significant growth of 27.1%.
Both the direct-to-consumer (DTC) and wholesale channels contributed to the revenue growth, with increases of 5.1% and 2.2% respectively. Other sources of revenue growth included royalty income from the reacquisition of Lanvin Japan trademarks and clearance income.
Despite the overall positive sales performance, sales for the Lanvin brand itself declined by 10.8% to €57 million. The company attributed this decline to a “creative transition” within the brand and a lack of significant product and marketing initiatives in the first half of the year. To revitalize the brand, Lanvin announced its “Lanvin Lab” project, which involves collaborations with various creatives to develop capsule collections. The first guest designer for the project will be American rapper Future, with their collection set to debut in the second half of 2023. Additionally, Lanvin plans to announce a new artistic director in the coming months who will work alongside the Lanvin Lab.
Other brands under the Lanvin Group, such as Wolford and Sergio Rossi, experienced positive growth. Wolford saw an 8.4% increase in revenue to reach €59 million, while Sergio Rossi surged by 22.4% to €33 million. St. John and Caruso also experienced growth, with revenue increases of 11.3% to €47 million and 33.6% to €20 million respectively.
Joann Cheng, Chairman and CEO of Lanvin Group, expressed her optimism for the future of the company, stating that they are focused on securing profitable growth and accelerating the growth of their brands. She highlighted the success of Sergio Rossi and Wolford, as well as the strategic decisions made for the Lanvin brand, which she believes will strengthen its position in the market.
Overall, Lanvin Group’s strong sales growth in the first half of 2023 reflects the company’s dedication to expanding globally and achieving profitability. With plans for a new artistic director and the introduction of the Lanvin Lab project, Lanvin is positioned for further success in the fashion industry.
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