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Luxury fashion group Lanvin has just announced 2022 revenues, up 38% from fiscal 2021.
The Asian group, which owns the Lanvin, Wolford, John, Caruso and Sergio Rossi brands, reported annual sales of €425 million (about $454 million), a 38 % increase over 2021, exceeding previous forecasts.
All five of the group’s brands recorded year-over-year growth, each following a different strategy. According to the company, they not only generated strong results for fiscal 2022 but also presented a positive outlook for 2023.
Lanvin, the group’s flagship brand, saw its global revenue increase by 67%, with 145% growth in its wholesale business, largely driven by its accessories category.
As for the group’s other brands, Wolford’s focus on athleisure, a mix of streetwear and gymwear, proved successful. Caruso, on the other hand, relied on a “back to luxury” trend and St John reinforced its name as “American luxury”.
The group’s DTC (Direct to Customers) revenues increased by 35% to 253 million euros, and wholesale revenues by 42% to 165 million euros.
Among the strategies implemented by the group, a strengthened commercial footprint, a focus on customer engagement at the retail level and digital marketing, via the creation of a shared digital platform for the group’s brands, explain this positive evolution in annual revenues.
Geographically, EMEA (Europe, Middle East, Africa) recorded the strongest sales growth at +44%, reaching 214 million euro, while North America grew by 36%.
On the Asian continent, China increased by 13% to 48 million euros. A satisfactory result according to the group, despite a limited commercial footprint in the region, caused by the numerous restrictions.
A positive outlook for 2023
“The results reflected the culture of success and entrepreneurship that we nurture within our organization, and highlighted the reputation of our brands,” said Joann Cheng, the CEO of the Lanvin Group, in a statement.
For the new year, the group said it expects to continue its “strong momentum“, while remaining cautious. It expects sustained, but moderate growth.
For the new goals, Lanvin wants to focus on customer engagement and expand its product categories, especially accessories, which are one of its biggest sources of revenue.
Read also >Lanvin Group targets further acquisitions after its IPO
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Luxury fashion group Lanvin has just announced 2022 revenues, up 38% from fiscal 2021.
The Asian group, which owns the Lanvin, Wolford, John, Caruso and Sergio Rossi brands, reported annual sales of €425 million (about $454 million), a 38 % increase over 2021, exceeding previous forecasts.
All five of the group’s brands recorded year-over-year growth, each following a different strategy. According to the company, they not only generated strong results for fiscal 2022 but also presented a positive outlook for 2023.
Lanvin, the group’s flagship brand, saw its global revenue increase by 67%, with 145% growth in its wholesale business, largely driven by its accessories category.
As for the group’s other brands, Wolford’s focus on athleisure, a mix of streetwear and gymwear, proved successful. Caruso, on the other hand, relied on a “back to luxury” trend and St John reinforced its name as “American luxury”.
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Luxury fashion group Lanvin has just announced 2022 revenues, up 38% from fiscal 2021.
The Asian group, which owns the Lanvin, Wolford, John, Caruso and Sergio Rossi brands, reported annual sales of €425 million (about $454 million), a 38 % increase over 2021, exceeding previous forecasts.
All five of the group’s brands recorded year-over-year growth, each following a different strategy. According to the company, they not only generated strong results for fiscal 2022 but also presented a positive outlook for 2023.
Lanvin, the group’s flagship brand, saw its global revenue increase by 67%, with 145% growth in its wholesale business, largely driven by its accessories category.
As for the group’s other brands, Wolford’s focus on athleisure, a mix of streetwear and gymwear, proved successful. Caruso, on the other hand, relied on a “back to luxury” trend and St John reinforced its name as “American luxury”.
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