Feb 18, 2023
Lanvin Group 2022 sales surge 38%
Feb 18, 2023
Lanvin Group announced on Friday revenues for the full-year 2022 rose 38% to €425 million, on the back of sales increases across all brands, with Lanvin brand sales jumping 67% for the twelve-month period.
The owner of Lanvin, Wolford, St. John, Sergio Rossi, and Caruso brands witnessed double-digit growth across most brands. Wolford sales gained 16% to €127 million; St. John gained 17% to €86 million; Caruso rose 25% to €30 million and Sergio Rossi sales surged 116% to €62 million. Lanvin sales jumped to €121 million.
By region, EMEA, the group's largest market, showed the most robust results, growing from €148 million to €214 million, a 44% increase. North America also showed solid growth of 36% from €107 million to €145 million and despite Covid lockdowns, Greater China grew 13% from €43 million to €48 million.
The group said channel initiatives in 2022 expanded both direct-to-consumer (DTC) and wholesale sales, with DTC revenues increasing 35% from €187 million to €253 million; and wholesale revenues increasing 42% from €116 million to €165 million.
Digital marketing also had a "strong effect" on the 2022 results, with the brands increasingly attracting new and younger demographics. In the second half, the group established a shared digital platform in North America powered by Shopify. Sergio Rossi and Lanvin have already successfully transitioned their North American e-commerce to this platform, which is expected to bring further growth to the brands in the coming years, the group added.
"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."
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