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Lanvin Group registers double-digit sales growth

(Source: Lanvin)

Chinese fashion company Lanvin Group – parent of Lanvin, Wolford, St. John, Sergio Rossi, and Caruso – has reported an unaudited 38 per cent year-on-year growth in revenue for the full year 2022, generating US$454.5 million. 

The improved performance was recorded across Lanvin Group’s five brands. The group’s flagship label Lanvin posted a 67 per cent increase in sales as demand for luxury fashion products surged. 

While the group’s largest region EMEA has the most robust results with sales increasing 44 per cent to $228.5 million, sales in North America surged by 36 per cent. In Greater China, where many businesses saw performance affected by the prolonged Covid-19 restriction, the company experienced a 13 per cent year-on-year improvement in revenue to $51.2 million. 

The company said the strong results were driven by “the refocus of brand strategies and optimisation of product categories and mix”. It also expects “sustained but moderated growth” this year due to the resurgence of retail and tourism in the Asia Pacific region. 

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

“We remain committed to further driving collaboration between our brands to unleash the value of our unique synergistic global platform.”

He said the company’s focus this year will be on increasing client engagement by expanding product categories – particularly in accessories – and implementing further branding and marketing initiatives.

The Shanghai-headquartered company raised $150 million in its NYSE debut last December, taking its value to $1.31 billion.

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