Lanvin Group (LANV) Q4 2024 TU earnings summary

Executive summary

• 2024 revenue was EUR 328 million, down 23% year-over-year, reflecting industry-wide luxury demand softness and macroeconomic headwinds, especially in Greater China and Hosan.

• St. John and Caruso showed resilience with smaller declines, while Wolford, Lanvin, and Sergio Rossi faced sharper drops due to market and operational challenges.

• Japan and North America remained stable, while EMEA and Greater China experienced softer demand and underperformance.

• Proactive measures included consolidating the store network, optimizing retail footprint, and reducing back-office expenses.

• Leadership changes with Andy Lew appointed as Executive President to drive strategic transformation.

Financial highlights

• Total revenue for FY2024 was EUR 328.2 million, down from EUR 426.2 million in FY2023, a 23% decline.

• By brand: Lanvin revenue declined 26% to EUR 83 million; Wolford down 31% to EUR 88 million; Sergio Rossi down 30% to EUR 42 million; St. John down 12% to EUR 79 million; Caruso down 7% to EUR 36 million.

• By geography: EMEA -28%, North America -13%, Greater China -37%, Other -12% year-over-year.

• By channel: D2C revenue decreased 21%; DTC/eCommerce -19%, Wholesale -28%, Other -31% year-over-year.

Outlook and guidance

• 2025 is positioned as a pivotal year, with a strengthened leadership team and new creative direction expected to drive future growth.

• Anticipated sales growth from new Artistic and Creative Directors' product launches at Lanvin and Sergio Rossi.

• Wolford to celebrate its 75th anniversary with a brand push and product focus in H2 2025.

• St. John expects growth from digital upgrades and retail repositioning; Caruso aims for continued double-digit growth in its brand business.

• Strategic focus on retail optimization, operational efficiency, and creative renewal to drive innovation and long-term growth.