Lanvin Group and Lancel lifted the veil in their 2022 fiscal year. Both achieved double-digit sales growth and reduced their losses.
Lanvin Group’s sales rose by 37% to 422 million euros in 2022. Another piece of good news is that the group expects to become profitable in 2024.
Its gross profit has thus already increased to €238 million from €170 million in 2021, a margin of 56%.
Its adjusted EBITDA remained in deficit last year, with a loss of 72 million euros (compared to nearly 59 million euros in 2021). But as a percentage of revenues, it has fallen to -17% in 2022 (compared to -19% in 2021 and -40% in 2020).
Listed on the stock exchange
Listed on the New York Stock Exchange since last December, Lanvin Group includes the eponymous House, the Italian men’s tailoring brand Caruso and the luxury footwear brand Sergio Rossi, the American luxury knitwear brand St John, and the Austrian brand of tights and bodysuits Wolford.
Sales of the group’s powerhouse, Lanvin, were particularly strong last year, growing 64% year-on-year to 120 million euros. Its acquisition by the group in July 2021 also benefited Sergio Rossi considerably: its sales grew by 116% to 62 million euros. Caruso’s increased by 25% to 31 million euros, St John’s by 17% to 86 million euros and Wolford’s by 15% to 125 million euros.
The group also explained that it had recorded growth in all channels and in all geographical areas.
The Lanvin brand grew by 39% in EMEA, 36% in North America and 15% in Greater China, despite the impact of the pandemic.
We are pleased with the progress made in 2022,” said Joann Cheng, CEO of Lanvin Group. Not only did we achieve record revenues, but we also made great progress in improving our cost structure and streamlining our operations. The progress we made in 2022 has laid a solid foundation for 2023, and despite the current macroeconomic conditions, we remain optimistic for the current year, especially with the continued resurgence of Greater China.”
Reduced loss at Lancel
For its part, the Lancel leather goods brand reported a 14% increase in revenues to 68.3 million euros for the 2022/23 fiscal year, which ended on March 31.
Its net income also improved, with a net loss reduced to €3.2 million (from €7.9 million in 2021).
Owned since 2018 by the Bologna-based Italian leather goods group Piquadro (which also owns its own brands, Piquadro and The Bridge), Lancel has 282 employees.
The House announced in early April that it had chosen the American actress Lili Reinhart as its new muse, the heroine of the series Riverdale. She succeeds Béatrice Rosen, Isabelle Adjani and Louise Follain.
Read also > Bruno Sialelli leaves the artistic direction of Lanvin
Featured photo : © Lancel
