Lanvin Group poised to drive innovation and growth amid evolving Luxury Landscape
Global luxury fashion conglomerate Lanvin Group whose portfolio encompasses brands such as Lanvin, Wolford, St. John, Sergio Rossi, and Caruso, reported preliminary revenues of 328 million Euros for the full year 2024.
In comparison to 2023, it marks a 23 percent year-over-year decrease reflecting a transitional year as the Group strategically realigned its creative direction and operations to position itself for sustainable long-term growth in a dynamic global market.
Amidst challenging market conditions in 2024, Lanvin Group demonstrated strategic agility that underscored its commitment to long-term prospects by proactively aligning its operations through decisive actions such as optimizing its retail network and enhancing operational efficiency.
The performance of the Groups diversified brand portfolio demonstrated varying degrees of resilience in 2024. St. John and Caruso demonstrated notable stability, with revenue declines of only 12 and 7 percent, due to a loyal customer base and distinct market positioning. In contrast, Wolford faced challenges due to logistical disruptions and macroeconomic factors, resulting in a significant 31 percent revenue drop. Lanvin and Sergio Rossi embraced bold creative renewal to redefine their market positions and foster future growth.
In terms of market performance, the EMEA region saw a decline in wholesale purchases due to cautious distributor sentiment which affected Lanvin and Sergio Rossi. Greater China also struggled, prompting the Group to implement targeted strategies to reignite growth. However, Japan and North America exhibited strong resilience and strong brand equity in the face of these challenges.
Looking ahead to 2025, Lanvin Group remains committed to its long-term vision to drive innovation and growth despite a difficult macroeconomic landscape through a renewed leadership team and ambitious creative strategies. The Group has appointed anew Executive President, Andy Lew and is establishing a second headquarters in Europe to strengthen local presence. Additionally, the consolidation of its store network and recent appointments of new artistic directors at Lanvin and Sergio Rossi is expected to expected to boost sales.
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