Lanvin manages growth in full 2023 results
The Lanvin brand had revenue of €111.7 million in the year, a drop of 7% year-on-year, while the Wolford brand was up by 1% to €126.9 million. St. John was up by 5% to €90.4 million, and Sergio Rossi declined by 4% to €59.5 million. Finally, Caruso grew by 30% year-on-year to €40 million.
The group noted that North America had slight growth last year at 1% while EMEA declined slightly, down 2%. Greater China had an increase of 8% year-on-year while the overall APAC region was also up 8%.
Lanvin highlighted a 3% increase in e-commerce revenue for 2023, with particularly strong growth for St. John at 14% and Sergio Rossi at 5%.
Looking forward, the company said: “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 APAC region shows opportunities for market share gains. The group plans to pursue tactical growth opportunities in 2024.
“At both group and brand level, ongoing initiatives will continue to drive improved margin profile. Planned marketing initiatives and product launches are expected to drive sales in 2024 which will lead to improving scale as the Group capitalises on the operating leverage it built in 2023.”
Credit: Sergio Rossi