Lanvin Group reports 37 per cent year-on-year sales growth

FILE PHOTO: A model presents a creation by designer Bruno Sialelli as part of his Spring/Summer 2022 women’s ready-to-wear collection show for fashion house Lanvin during Paris Fashion Week in Paris, France, October 3, 2021. REUTERS/Gonzalo Fuentes (Source: Reuters/Gonzalo Fuentes)

Luxury fashion giant Lanvin Group has reported a 37 per cent year-on-year increase in sales for last year, generating €422 million (US$462.8 million) on the back of “the refocus of brand strategies and optimisation of product categories and mix”. 

The group’s gross profits reached $261 million, up 40 per cent compared to the year before. Lanvin Group’s portfolio of brands comprises Lanvin, Wolford, St John, Sergio Rossi and Caruso. 

“We remain optimistic for the current year, especially with the continued resurgence of Greater China,” said Joann Cheng, chairman and CEO of Lanvin Group. 

The group’s strong performance was recorded across Lanvin Group’s five brands and in all regions. While sales in EMEA and North America surged 39 per cent and 36 per cent respectively, Greater China sales jumped 15 per cent despite the pandemic. 

The company said it continues to seek and review potential new investment and acquisition opportunities to further enhance its brands and platform. 

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

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