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The Lanvin Group’s global expansion strategy is bearing fruit

The Lanvin Group’s global expansion strategy is bearing fruit

Lanvin Group (formerly Fosun) closes its 2021 fiscal year on a high note with sales of 339 million euros last year.

 

Lanvin Group, the Chinese luxury goods group, which is preparing to list on the New York Stock Exchange, reported revenues of 339 million euros last year, up 52% year-on-year thanks to “the growth of Lanvin, a strong return of Wolford and the successful integration of Sergio Rossi into the portfolio,” the group said in a statement.

 

This increase is explained by the implementation of a global growth strategy, thanks in particular to the acquisition of the luxury footwear brand Sergio Rossi, a robust performance in all geographic zones and rapid expansion in North America and Asia.

 

On an IFRS (International Financial Reporting Standards) consolidated basis, the Lanvin Group generated €148 million in sales in the Europe/Middle East and Africa market in 2021, which, according to the press release, represents 48% of its worldwide sales.

 

Building on this solid base in Europe, the Lanvin Group has also deepened its roots in North America and Asia. Indeed, in 2021, North America contributed 35% of total sales, while China more than doubled its contribution to sales by accounting for 14%.

 

The Lanvin brand recorded 108% growth in global sales and a 415% increase in online sales, particularly in the North American and Chinese markets. Direct To Consumer e-commerce performance increased 172% over 2020, supported by the opening of eight new stores and a significant improvement in sales per square meter.

For its part, the Wolford brand recorded sales of €109 million in 2021, up 15% year-on-year, with positive EBITDA.

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This global expansion strategy is driving growth in the Lanvin Group’s portfolio and gives the company confidence in its future performance prospects. “We will continue to expand our business to accelerate our growth, while advancing our proposal to list on the New York Stock Exchange,” explained Joann Cheng, president and CEO of Lanvin Group, in a press release.

 

 

Read also > AFTER THE ANNOUNCEMENT OF ITS IPO, WHAT IS THE NEXT STEP FOR THE LANVIN GROUP ?

Featured photo : © Lanvin

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