Lanvin Group reports record sales for 2022

Luxury fashion conglomerate Lanvin Group has announced its preliminary revenues for FY22, during which time it said it had achieved record sales.

The group, which owns the likes of Lanvin, Wolford and Sergio Rossi, reported revenues of 425 million euros, an increase of 38 percent year-over-year (YoY) compared to 2021, exceeding previous guidance.

All five of the group’s brands reported YoY growth, each following different brand strategies that the company said had driven both strong results in 2022 and laid out a positive outlook for 2023.

Lanvin, the group’s flagship brand, saw its global revenue grow by 67 percent, with a particularly notable 145 percent growth in its wholesale business, largely backed by its accessory category. Meanwhile, the brand’s DTC business also grew by 39 percent.

The group said all of the brands’ results had been driven by refocused brand and product strategies, many of which included recentering around core products.

While Wolford’s focus on athleisure proved successful and Caruso leant heavily on a ‘back to luxury’ trend, St.John reinforced its ‘American Luxury’ moniker.

Overall, the group’s DTC revenues had increased 35 percent to 253 million euros, and its wholesale revenues rose 42 percent from 116 million euros to 165 million euros.

Among its driving factors was that of a strengthened retail footprint, a focus on client engagement at retail level and digital marketing, for which the group launched a shared digital platform for its brands.

In terms of geographic revenue, EMEA saw the largest growth at 44 percent, rising to 214 million euros, while North America welcomed a growth of 36 percent.

China grew 13 percent, up from 43 million euros to 48 million euros, a result the group said came despite its currently limited retail footprint in the region.

Positive 2023 outlook

In a release, Joann Cheng, chairman and CEO of Lanvin Group, said: "These strong preliminary revenue numbers are testament to the global growth strategy that we are delivering.

“The results reflected the culture of success and entrepreneurship we maintain within our organisation and highlighted the reputation of our brands.”

For 2023, the group said it would be carrying on its “strong momentum” while keeping check on macroeconomic issues. In light of this, it noted that it expects sustained but moderate growth, with a reliance on the resurgence of the APAC region.

The company will be focusing on client engagement and expanding its product categories, particularly in accessories.