Lanvin Group, a global luxury brand with Lanvin, St. John, Wolford, Caruso and Sergio Rossi has come out with its preliminary, unaudited revenues of 2022. On a pro forma basis, the Group’s sales were €425 million, representing a 38% year-over-year rise vs 2021 and a 25% year-over-year increase versus 2021 if Sergio Rossi’s full-year revenue figures were included in 2021.
Wolford sales gained 16% to €127 million; St. John gained 17% to €86 million; Caruso rose 25% to €30 million and Sergio Rossi sales surged 116% to €62 million. Lanvin sales jumped to €121 million. By region, EMEA, the group’s largest market, showed the most robust results, growing from €148 million to €214 million, a 44% increase. North America also showed solid growth of 36% from €107 million to €145 million and despite Covid lockdowns, Greater China grew 13% from €43 million to €48 million.
Lanvin Group’s CEO and Chairman, Joann Cheng says – “These strong preliminary revenue numbers are testament to the global growth strategy that we are delivering. The results reflected the culture of success and entrepreneurship we maintain within our organization and highlighted the reputation of our brands. Looking forward, notwithstanding current macroeconomic conditions, we remain optimistic for 2023, especially with the continued resurgence of the APAC region.”
All the brands in the fold of the Lanvin group increasingly attracted newer and younger demographic sections due to the alleged strong effect of digital marketing. The organization built a common digital platform in North America run by Shopify in the second half. This technology, which Sergio Rossi and Lanvin have previously successfully migrated their North American e-commerce on, is anticipated to spur the companies’ future growth.
“2022 was an exciting year for Lanvin Group. We will continue to maintain the legacy and heritage of our iconic brands while adapting to the future and making sure that we evolve to continually exceed the expectations of our consumers. We remain committed to driving collaboration between our brands to further unleash the value of our unique synergistic global platform.” – says Lanvin Group CEO Ms. Cheng.
Synergistic Effort, Manifold Growth
All the five brands in the Lanvin cluster manifested year-over-year growth owing to their differentiated brand strategies, followed by their successful implementation. In addition to the amazing results from 2022, these measures also act as a forerunner to further improvements in 2023 and even beyond that.
The Group’s flagship brand, Lanvin, had record 145% growth in its wholesale business and a 67% increase in global sales, illustrating the brand’s rising popularity and demand among luxury retailers and consumers worldwide, particularly for its accessory goods. Due to improved unit economics brought about by its client engagement activities and digital strategy, its DTC business also surged by 39%.
The Lanvin Group, in addition to improving the brand strategies, also focussed on optimization of their product categories and mix. Refocus on core products and balancing of the mix, bolstered by introduction of new capsules and product lines are the prime reasons towards the surge witnessed. Lanvin’s entry into the accessories helped in improving the growth margin.
Wolford’s focus on iconic products and athleisure proved to be a winning combination; successful collaborations with GCDS, Mugler, Alberta Ferretti, and Sergio Rossi particularly paid off in attracting new clients. When individuals went back to their jobs, Caruso capitalized on the “back to elegance” vogue. St. John strengthened the label “American Luxury” and honed its goods to match the trend, which produced excellent results in the main DTC channel and the North American continent, thus maintaining its status as the most prominent and long-running French couture brand.
Best Hopes Moving Beyond
Lanvin group forecast the hope to carry its current momentum into 2023 and beyond, “but is aware of the macroeconomic issues, and therefore expects sustained but moderated growth with further positive contribution from the resurgence of the APAC region.”
Lanvin hopes to pursue continuous steps to promote a better profit profile at both the Group and Brand levels. The Lanvin Group will put more of an emphasis on customer involvement by broadening its product categories, notably in accessories, and by launching new branding and marketing efforts.