Shanghai-based luxury fashion business Lanvin Group says revenue in all markets grew in the first half.
For the first half, group revenue reached US$235.01 million, a 6.4 per cent increase compared to the same corresponding period with gross profit of $ 136.63 million.
By segment, Wolford’s revenue grew 8.4 per cent to $64.5 million while Sergio Rossi reported $36.1 million (up 22.4 per cent), St John $51.4 million (up 11.3 per cent) and Caruso $21.9 million (up 33.6 per cent).
Meanwhile, Lanvin brand sales fell 10.8 per cent to $62.3 million mainly due to its focus on a “creative transition” and fewer key product and marketing initiatives in the half.
By market, Greater China reported a 13.9 per cent increase followed by Asia at 27.1 per cent, Europe, the Middle East and Africa at 5.3 per cent, and North America up 2.6 per cent.
In March, Lanvin reacquired its Japan trademarks from its strategic partner, Itochu Corporation, to further integrate its global IP and management.
Joann Cheng, chairman and CEO of Lanvin Group, said the business has continued its track record of global growth while making progress in its 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 the year,” she said.
Moving forward, the group expects to maintain momentum into the second half and continue its margin improvement as new collection launches and design collaborations are planned.
