Lanvin Group revenues dropped 23 per cent year-on-year to €329 million for fiscal 2024. The company said the decline reflects a “transitional year marked by creative evolution and strategic realignment amid market headwinds”. The group noted that, despite market uncertainty, it is poised for a “robust recovery” in 2025.
None of Lanvin Group’s brands — Lanvin, Wolford, Sergio Rossi, St John and Caruso — reported positive growth. Flagship brand Lanvin saw sales decline 26 per cent. Gross profit decreased from €251 million with a margin of 59 per cent in 2023 to €183 million with a margin of 56 per cent in 2024.
North America and Japan outperformed, thanks to stronger results from St John and Sergio Rossi. EMEA (Europe, the Middle East and Africa) and Greater China saw declines, which the company attributed to the wider luxury slowdown.
In 2024, Lanvin Group appointed Andy Lew to lead the business as executive president, and Peter Copping as artistic director to lead the creative vision of the Lanvin brand.
“2024 was a year of transformation for Lanvin Group,” said chairman Zhen Huang in a statement. “While market conditions were challenging, we made critical strides in strengthening our brands, optimising our operations and laying the groundwork for future growth. With our renewed creative leadership and disciplined execution, we are confident in our ability to navigate the evolving luxury landscape and deliver long-term value.”
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