Lanvin Group has reported revenues of 426 million euros for the year 2023, marking a 1 percent increase compared to the previous year. The company's CEO, Eric Chan, acknowledged the challenging macroeconomic environment and global uncertainties that characterized the year. Despite facing headwinds, Lanvin Group managed to sustain its growth throughout the year.
During 2023, the group strategically reduced its store count by 12 locations while maintaining flat direct-to-consumer (DTC) sales growth on a like-for-like basis. Notably, St. John and Sergio Rossi experienced positive store like-for-like growth of 13 percent and 6 percent, respectively.
Although Lanvin brand saw a decline of 11 percent in first-half revenue, it managed to end the year with a 7 percent decrease. St. John achieved a 7 percent growth in its DTC channel, while Caruso excelled with a remarkable 30 percent increase in global revenue.
Geographically, North America witnessed slight growth, while EMEA experienced a slight decrease. In Asia, despite a slow start in China during the first half, Greater China recorded an 8 percent growth, contributing to an overall 8 percent growth in the APAC region.
Digital revenue for Lanvin rose by 3 percent, with St. John and Sergio Rossi showing even stronger growth rates of 14 percent and 5 percent, respectively. Lanvin and Wolford, however, maintained flat revenues for the year.
Looking ahead, Lanvin Group anticipates that the persisting softness in the global market may impact its business, but regional economies are expected to present growth opportunities. The company specifically highlighted the APAC region as a potential area for market share expansion.
Planned marketing initiatives and upcoming product launches are poised to drive sales for Lanvin Group in 2024, as the company remains focused on navigating the evolving luxury fashion landscape.
