Chinese luxury fashion group Lanvin Group has reported full-year revenue of €425m ($454.3m) for fiscal 2022 (FY22), up by 38% from fiscal 2021 (FY21).
All the company’s portfolio brands recorded ‘strong’ growth in the year, with its flagship brands Lanvin and Sergio Rossi registering 67% and 116% year-on-year (YoY) revenue growth respectively.
Lanvin Group’s operations in Europe, the Middle East and Africa (EMEA) reported a 44% revenue growth to €214m, while its North America business delivered a 36% revenue rise.
Despite the impacts of Covid-19, the company’s revenue in Greater China rose by 13%.
Driven by the successful implementation of its omnichannel strategies, Lanvin Group’s direct-to-customer revenue was €253m, up by 35% from €187m in FY21.
The company’s wholesale revenues increased by 42% to €165m over the year.
Lanvin Group expects the ongoing implementation of its strategic plans to drive revenue growth and margin improvement this year.
Lanvin Group chairman and CEO Joann Cheng said: “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.
“2022 was an exciting year for Lanvin Group. We will continue to maintain the legacy and heritage of our iconic brands while adapting to the future and making sure that we evolve to continually exceed the expectations of our consumers.
“We remain committed to driving collaboration between our brands to further unleash value of our unique synergistic global platform.”
Based in Shanghai, Lanvin Group manages a portfolio of luxury fashion brands worldwide.
Last March, the firm agreed to merge with Primavera Capital Acquisition, a special purpose acquisition company owned by Primavera Capital Group.