The Chinese fashion group Lanvin Group Holdings Limited surprisingly increased its sales significantly in the year of its IPO. This is the result of preliminary, as yet unaudited figures published on Friday by the parent company of the Lanvin, Wolford, Sergio Rossi, St. John and Caruso brands.
In 2022, the Lanvin Group’s consolidated sales amounted to EUR 424.5 million, exceeding the previous year’s level by 38 percent. On a pro forma basis – i.e. taking into account the complete previous year’s sales of the Sergio Rossi brand, a majority of which was acquired in July 2021 – sales grew by 25 percent.
The French fashion house Lanvin developed particularly dynamically, with sales increasing by 67 percent to 121.3 million euros. Wolford achieved an increase of 16 percent to 126.6 million euros, St. John increased by 17 percent to 85.8 million euros and Caruso by 25 percent to 30.8 million euros. Sergio Rossi’s consolidated revenues, which were only included in the balance sheet from the second half of 2021, grew by 116 percent to 61.9 million euros.
In view of the fact that all market regions contributed to the increase in sales, the group felt encouraged in its “global development strategy”. In the EMEA region, which includes Europe, the Middle East and Africa, revenues grew by 44 percent to 214 million euros, in North America they rose by 36 percent to 145 million euros.
Despite the temporarily tightened protective measures against the Covid 19 pandemic, the group of companies was also able to grow in Greater China. Sales there grew by 13 percent to 48 million euros. In view of the currently still small presence in the local retail trade and the “early stage” of the growth strategy geared towards China, this development was “gratifying”, the group explained.
For 2023, the group of companies expects “sustained but subdued growth” due to the current “macroeconomic problems”. The management is particularly hoping for “another positive contribution from the recovery in the Asia-Pacific region”.