Lanvin Group (LANV) Registration Filing summary

Company overview and business model

• Operates as a global luxury fashion group with five portfolio brands: Lanvin, Wolford, Sergio Rossi, St. John, and Caruso, with products spanning apparel, leather goods, footwear, and accessories.

• Sells products through approximately 1,100 points of sale, including 280 directly operated retail stores, wholesale, and e-commerce, with presence in over 80 countries.

• Growth strategy includes potential add-on acquisitions and expanding access to Asian markets.

• Approximately 12.5% of 2023 revenues derived from operations in China, with the remainder from the U.S. and Europe.

Financial performance and metrics

• As of December 31, 2023: cash and cash equivalents of €28.1 million, total equity of €165.6 million, and total indebtedness of €68.1 million.

• Significant capital injections and shareholder loans provided to portfolio brands between 2021 and 2023, including EUR50 million annually to Lanvin and substantial loans to Wolford, St. John, and Sergio Rossi.

• Has incurred significant losses in the past and anticipates continued losses for the current and upcoming years.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as set forth in applicable prospectus supplements.

• No dividends declared or paid on ordinary shares; future earnings are intended to be retained for business needs.

• Recent share repurchase agreement with Meritz for $20 million, with scheduled repurchases through August 2024.