Lanvin Group: falling sales in 2024

The fashion group, which owns Lanvin, Wolford and Sergio Rossi, lost 100 million euros in one year, impacted by a significant drop in sales, particularly in Greater China.

The year 2024 marks a difficult turning point for Lanvin Group, whose sales fell by 23% to 328 million euros, compared with 426 million in 2023. This decline affected all the Group’s brands, with a particularly poor performance in Greater China, where sales fell by 37%.

Widespread losses on Group brands

All the Group’s houses saw their revenues decline. Lanvin, weakened by the absence of its artistic director in the first half, fell by 26% to 83 million euros. Wolford, the lingerie and pantyhose brand, suffered the biggest decline, down 31% from 126 to 88 million euros. Sergio Rossi, the Italian luxury footwear house, recorded a collapse of 30% to 42 million euros. St John, a women’s ready-to-wear brand, limited the damage with a 12% drop to 79 million euros. And Caruso, the men’s tailoring house, remained the most stable, with a more restrained decline of 7% to 37 million euros.

A global decline, led by China

While the Group suffered an overall loss, some regions were more affected than others. Greater China fell by 37%, with sales dropping from 53 to 33 million euros.Europe, Middle East and Africa (EMEA) fell by 28%, to 145 million euros. AndNorth America saw a more moderate decline of 13%, to 129 million euros.

A strategic turning point for 2025

Faced with this situation, Lanvin Group calls it a “year of transition” and says it intends to readjust its strategy. The Group has appointed Andy Lew as its new Executive Chairman and has announced the opening of a second head office, to complement the one in Shanghai. This repositioning is necessary if the company is to achieve a turnaround by 2025.

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