China's Lanvin Group posts 38% surge in revenue in FY22

Channel initiatives in FY22 expanded both direct-to-consumer (DTC) and wholesale sales. In FY22, the group's DTC revenues increased 35 per cent from €187 million to €253 million; and wholesale revenues increased 42 per cent from €116 million to €165 million, the company said in a press release.

Digital marketing likewise had a strong effect on the FY22 results with the brands increasingly attracting new and younger demographics. In the second half of FY22, the group established a shared digital platform in North America, powered by Shopify's digital solutions. 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's largest region, Europe, Middle East, Africa (EMEA), showed the most robust results in FY22, growing from €148 million to €214 million, a 44 per cent increase. North America region also showed solid growth of 36 per cent from €107 million to €145 million. Notwithstanding the prolonged COVID-19 lockdowns, Greater China grew 13 per cent from €43 million to €48 million.

"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 organisation 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 Asia Pacific (APAC) region," said Joann Cheng, chairman and CEO of Lanvin Group.

Fibre2Fashion News Desk (DP)