Lanvin Group posts 37 percent jump in FY sales

Luxury fashion group Lanvin confirmed Thursday it made record sales in 2022, up 37 percent from the prior year.

The group, whose portfolio includes its namesake label as well as Sergio Rossi, Wolford, and St. John Knits, posted sales of 422.3 million euros in its audited results Thursday - that’s compared to sales of 308.9 million euros a year earlier.

All five of its brands recorded growth in 2022, with its flagship namesake brand posting a 64 percent jump, driven by record growth of 145 percent in its wholesale business.

‘Continued resurgence of Greater China’

All regions also recorded growth, with EMEA and North America growing 39 percent and 36 percent, respectively. Even Greater China, which for many brands hampered progress last year due to the pandemic, reported 15 percent growth.

However, the group’s adjusted EBITDA loss widened to 72 million euros from 56 million euros a year earlier.

Group chair and CEO Joann Cheng told investors: “We are pleased with the progress we made in 2022. Not only did we achieve record revenues, we also made great strides in improving our cost structure and streamlining our operations.

“Our progress in 2022 has laid a strong foundation for 2023, and notwithstanding current macroeconomic conditions, we remain optimistic for the current year, especially with the continued resurgence of Greater China.”