Lanvin Group (LANV) Q4 2024 earnings summary

Executive summary

• FY2024 revenue declined 23% year-over-year to €329 million, reflecting macroeconomic turbulence, shifting consumer behaviors, and industry-wide softness in luxury markets.

• Gross margin remained stable at 56%, supported by disciplined pricing, higher DTC sales mix, and improved inventory management.

• Operational efficiency improved with a 15% reduction in G&A expenses and steady progress in working capital turnover.

• Store network consolidation and optimization focused on core and high-potential markets, with closures of underperforming locations.

• Leadership changes and creative appointments at Lanvin and Sergio Rossi signal a new era of innovation and growth.

Financial highlights

• Global revenue for 2024 was €329 million, down 23% from 2023, with gross profit at €183 million (56% margin).

• Adjusted EBITDA for 2024 was €-92 million, with one-off impacts estimated at €14–18 million.

• Operating cash flow improved by 32% from 2020 to 2024.

• Opex reduced by 14% from 2022 to 2024.

• Net cash used in operating activities improved by 27% since 2022, totaling €-59 million in 2024.

Outlook and guidance

• 2025 is expected to be pivotal, with new creative leadership, a second European HQ, and a focus on operational discipline and creative momentum.

• Strategic priorities include leadership excellence, creative momentum, operational efficiency, and market expansion.

• Continued focus on retail network optimization, core business units, and exploring new regions and product categories.