Retail in Asia

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Lanvin Group 2022 sales rise 13 percent in Greater China

Lanvin Group announced on Friday a 38 percent rise in revenues for the full-year 2022 to EUR 425 million (USD 455 million), on the back of sales increases across all brands, with Lanvin brand sales jumping almost 70 percent for the twelve-month period.

SEE ALSO: Lanvin Group revenue up 73 percent in first half of 2022

By region, Lanvin Group’s Greater China sales grew 13 percent from EUR 43 million to EUR 48 million. The New York-listed company said its double-digit growth in Greater China “was a gratifying result given the brands’ currently limited retail footprint and the early stage of the group’s growth and brand awareness in China,” according to a press release.

EMEA, the group’s largest market, showed the most robust results, growing from EUR 148 million to EUR 214 million, a 44 percent increase. North America also showed solid growth of 36 percent from EUR 107 million to EUR 145 million.

Lanvin, the group’s flagship brand, grew global revenue by 67 percent to EUR 121 million, with record 145 percent growth in its wholesale business, “demonstrating the brand’s increasing appeal and demand among global luxury retailers and buyers, especially for its accessory products.” Its DTC business also grew by 39 percent, “driven by the increased unit economics generated from its client engagement initiatives and digital strategy.”

Across other brands, Wolford sales gained 16 percent to ​EUR 127 million; St. John gained 17 percent to EUR 86 million; Caruso rose 25 percent to EUR 30 million and Sergio Rossi sales surged 116 percent to EUR 62 million.

“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,” said Joann Cheng, chairman and CEO of Lanvin Group.

“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 value of our unique synergistic global platform.”

Looking ahead, the group said it will carry its strong momentum into 2023, “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.”