While sales rose only slightly in 2023, the fashion group behind Lanvin, Wolford, Sergio Rossi, St. John and Caruso, significantly boosted margins in 2023.
The Lanvin Group held up well in 2023.
While its eponymous brand didn’t sparkle last year, the group, which also owns the Wolford, Sergio Rossi, St. John and Caruso labels, managed to post a very slight sales increase (+1%) (based on actual exchange rates) to 426 million euros “despite macroeconomic headwinds”.
Above all, the Lanvin Group continued to improve its margins. Its gross margin thus rose from 56% to 59%, while its adjusted EBITDA as a percentage of sales improved by 198 basis points compared to 2022.
Several points of improvement
These better performances are linked to “the increase in accessories as a proportion of sales, the continued focus on higher-margin DTC revenues as a proportion of total sales” while “the refinement of the product offering has enabled improved inventory management, with more core products showing higher sales rates” explains the group in a statement.
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Read also > LANVIN GROUP APPOINTS NEW CEO, ERIC CHAN
Featured Photo: © Caruso
