Lanvin Group H1 sales up 6% despite declining Lanvin brand sales, new artistic director to be revealed soon

Lanvin Group announced on Wednesday revenue of €215 million for the first half of 2023, a 6.4% uptick on last year, with Lanvin brand sales slashed on the label’s “creative transition.”

The Chinese-owned Lanvin Group said first-half revenue in all regions and in all channels were up during the six-month period.

By region, Greater China grew 13.9%, EMEA grew 5.3%, and North America was up 2.6%. Outside Greater China, Asia grew 27.1%, said the group.

DTC channel revenue increased by 5.1% and wholesale revenue increased by 2.2%. Other revenue growth was driven by royalty income, from the reacquisition of the Lanvin Japan trademarks, and clearance income, the firm added.

By brand, the group’s namesake brand Lanvin saw sales dive 10.8% to €57 million, citing the Lanvin’s “creative transition as well as comparatively fewer key product and marketing initiatives” in the first half for the decline. In June, Lanvin announced its ‘Lanvin Lab’ project, which will entrust capsule collections to various creatives. The first guest is American rapper Future, which is set to debut in the second half of 2023. 

​In the earnings update, Lanvin also said it plans to announce a new artistic director in the coming months who will work alongside its Lanvin Lab.

Elsewhere, Wolford revenue grew 8.4% to €59 million, and ​Sergio Rossi revenue surged 22.4% to €33 million.  St. John revenue was up 11.3% to €47 million, while Caruso  grew its revenue by 33.6% from €15 million, to €20 million in the current first half.

“We continue our track record of global growth while we make progress on our path to profitability. Our improvement in gross profit and contribution profit are evidence of our commitment to securing profitable growth. We have done the groundwork for our brands to accelerate their growth and are excited about our prospects for the remainder of 2023,” said ​​Joann Cheng, chairman and CEO of Lanvin Group.

“At the top line, we grew group revenues across all our key markets with Sergio Rossi growing sales by 22.4% and Wolford growing 8.4%, especially after the hiring of Nao Takekoshi as its creative director. We also made several strategic reorganization decisions with respect to Lanvin which had an expected short-term impact in the first half of 2023. We believe we have now placed Lanvin in a much stronger position and look forward to seeing the results of these decisions, such as a new collection from our first Lanvin Lab guest designer, the Grammy-winning artist, Future.”