Gross gain decreased to € 183 million, reflecting a 56 percent margin, compared to 251 million euros in 2023 with a 59 percent margin. The decrease in gross gains is mainly attributed to a fall in gross gains of one of its brands, Wolford, with higher costs related to the new logistics provider.
Lanvin Group has reported income of 329 million euros (~ $ 351 million) in the fiscal year24, 23 percent lower, citing a year of creative and strategic realignment transition. The gross gain fell to € 183 million, mainly due to the increase in Wolford's logistics costs. Despite the challenges in EMEA and Gran China, North America and Japan constantly served. DTC sales represented 61 percent of total income.
The Group continued its strategic store optimization initiative, combining new selective retreats with the consolidation of low performance locations. This movement reinforces its focus on central and high potential markets, Lanvin said in a press release.
He informed constant performance in North America and Japan, promoted by strong contributions from ST John and Sergio Rossi, while Europe, the Middle East and Africa (EMEA) and the Great China faced winds against due to broader challenges of the luxury industry.
Despite the regional disparities, the direct consumer channels (DTC) of the group remained resistant, which represents 61 percent of the total sales. This underlines the effectiveness of the Lanvin market -centered strategy and its disciplined approach to the management of retail networks.
The group continued to refine their retail footprint consolidating low performance stores while selectively opens new locations. Both Lanvin and Sergio Rossi achieved a successful expansion in the Middle East.
The adjusted Ebitda remained in loss for fiscal year24, while the group made a significant effort to optimize the cost structure and improve operational efficiency in this prosecutor, the increase in the loss of adjusted Ebitda was mainly driven by a decrease in gross gain, which was only partially mitigated by the reduction of operating expenses.
As for the brand, Lanvin reported a decrease in the income of 26 percent to € 83 million, with gross profits to € 48 million, although the margin remained stable at 59 percent. Wolford revenues decreased 30 percent to € 88 million.
Sergio Rossi saw that income fell 30 percent to € 42 million, with margin pressures of fixed production costs, although cost reduction measures helped compensate for some losses. The income of ST John fell 12 percent to € 79 million, but the gross margin improved 69 percent due to better sales of complete prices and lower production costs. Caruso registered a decrease of 7 percent softer from revenue to 37 million euros, with stable gross profits, backed by strong growth in its brand business.
In 2025, Lanvin Group is ready for solid recovery and remains unwavering in its long -term vision, driven by operational discipline and an increase in creative impulse. Under the leadership of the new executive president, Andy Lew, the group is improving their management capabilities and establishing a second headquarters in Europe to further optimize the organization, added the launch.
The group also said that it will continue to maintain a strategic approach in key areas and central products, while exploring unbelievable regions and emerging products categories to unlock new growth opportunities. The optimization of the retail network will continue to be a priority, with efforts to refine the store's footprint, simplify operations and concentrate on the main business units.
“2024 was A Year of Transformation for Lanvin Group. While Market Conditions Were Challenging, We Made Critical Strides In Strengthening Our Brands, Optimising Our Operations, and Laying The Groundwork for Future Growth. EXECUTION, WE ARE CONFIDES IN OUR ABILITY TO NAVIGATE THE EVOLVING Luxury Landscape and Deliver Long-TERM VALUE, ”SAID Zhen Huang, president of Lanvin Group.
Fiber2Fashion News Desk (SG)
