Lanvin Group reported revenues of 426 million euros, a 1 percent increase versus 2022.
Commenting on the company’s performance, Eric Chan, CEO of Lanvin Group, said: "2023 was a year full of macroeconomic headwinds and global challenges. 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."
Review of Lanvin Group’s results
The group reduced its store-base by 12 stores during the year and reported flat DTC sales growth on a like-for-like basis. St. John and Sergio Rossi posted store like-for-like growth of 13 percent and 6 percent, respectively.
While Lanvin brand’s first half revenue decreased by 11 percent, the brand ended the year down 7 percent. St. John grew its DTC channel by 7 percent in 2023 and Caruso achieved 30 percent growth in global revenue.
The company saw North America grow slightly and EMEA decreased slightly. In Asia, despite a slow start to the year in China in the first half, Greater China posted 8 percent growth and overall, the APAC region grew by 8 percent.
Lanvin’s digital revenue rose 3 percent with St. John grew 14 percent and Sergio Rossi by 5 percent. Lanvin and Wolford remained flat for the year.
Lanvin expects regional markets to grow in 2024
The Group anticipates that while continued softness in the overall global market will impact the business, regional economies will fare better and present opportunities for growth.
Furthermore, the company said that the APAC region shows opportunities for market share gains.
Planned marketing initiatives and product launches are expected to drive sales in 2024.
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