The annual results of the Chinese fashion group Lanvin Group Holdings Limited are marked by a “transition year” in which the company has adapted its creative orientation and strategic activities. The owner of the brands Lanvin, Wolford, Sergio Rossi, St. John and Caruso recorded a double -digit decline in sales for the 2024 financial year, as can be seen from the preliminary results published on Friday.
The total turnover of the Lanvin Group amounts to 328.2 million euros, which corresponds to a decrease of 23 percent. The wholesale business with a minus of 28 percent is particularly affected, while direct sales decreased by 19 percent.
The Austrian clothing provider Wolford, who published his figures the day before in an ad hoc announcement, generated the largest share of sales with 87.7 million euros. However, the brand is fighting with a decline in sales of 30 percent. This is followed by the fashion brand Lanvin with 82.7 million euros in sales and a decline of 26 percent. Sergio Rossi also has a minus of 30 percent with 41.9 million euros.
While Lanvin and Sergio Rossi suffered from the industry -wide headwind, the labels St. John and Caruso were more resistant. Its sales decreased comparatively moderately by twelve and seven percent. According to parent company, this underlines “the strength of their loyal customers: internal base and the differentiated market positioning”.
Lanvin Group adds weaker product demand
Regional, LANVIN Group has a weaker product demand in the EMEA region (Europe, the Middle East and Africa) as well as in Großchina. Sales fell by 28 or 37 percent. Despite the decline, EMEA remains the main sales market of the group with 145.3 million euros. A “cautious mood of the dealers: inside” was particularly noticeable in the wholesale business, which in particular hit Lanvin and Sergio Rossi. In Großchina, the sales development remained behind the expectations, which is why the company implements targeted measures to promote growth.
The markets in North America and Japan developed more stable. There, sales fell by 13 or 12 percent.
With a view to the 2025 financial year, the Lanvin Group holds its long -term vision, as can be seen from the annual report. In order to promote growth, the company has strengthened its management under the direction of the new CEO Andy Lew and opened a second headquarters in Europe to strengthen the local presence. In addition, the relatively new creative directors at Lanvin and Sergio Rossi should continue to drive the brands forward.
This article previously appeared on Fashionunited.nl and was used with digital tools translated.
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