Lanvin Group (the “Group”), a global luxury fashion group, announced its financial results for the six-month period that ended on June 30, 2022.
Ms. Joann Cheng, Chairman and CEO of Lanvin Group, said: “Lanvin Group continues to deliver on its strategy, with record first half results and momentum continuing to build across all brands, in all markets and across all sales channels.”
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The Group’s performance in the first half of 2022 has been marked by an exceptional phase of growth, building on the strong momentum achieved in 2021. For the first six months of 2022, the Group recorded revenue of EUR 202 million, representing industry-leading growth of 73 percent compared to the same period in 2021.
The strong performance was driven by outstanding growth in Europe and North America, where revenue grew 91 percent and 58 percent year-over-year respectively, a testament to the Group’s solid foundation in its five brands’ home turf and the success of its global growth strategies. Notwithstanding the impact of COVID-19 restrictions in China for much of the period, sales in the market increased by 32 percent year-over-year, while sales in the rest of Asia grew 194 percent year-over-year as the brands continued to penetrate new high-potential markets.
Lanvin delivered 117 percent year-over-year global sales growth, recording sales of EUR 64 million as it continued to grow its brand awareness. In particular the brand has renewed its global product and merchandising strategy, with an increasing focus on leather goods and footwear and made important ongoing improvements in customer fulfilment. Revenue through global DTC channels grew 75 percent year-over-year, with ecommerce sales increasing by 71 percent, as the brand continued its retail expansion and digital execution as part of its omni-channel strategy.
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Meanwhile, its sister brand under Fosun group, Wolford, recorded revenue of EUR 54 million in the first half of 2022, up 29 percent year-over-year, cementing its position as one of the world’s leading suppliers of women’s skinwear in the upper premium segment. Wolford’s sales growth was spread across almost all geographical regions and distribution channels, most notably recording a 46 percent increase from its retail channel, with the North American market growing 48 percent and EMEA by 28 percent.