Luxury fashion group Lanvin Group has reported total revenues of €215m ($233.01m) in the first half (H1) of fiscal year (FY) 2023.
This is an increase of 6.4% from the corresponding period in FY22.
During the period, the company’s DTC channel and wholesale revenue increased by 5.1% and 2.2%, respectively.
Regionally, Greater China, EMEA and North America revenues grew by 13.9%, 5.3% and 2.6%, respectively, over the period.
Revenue of the Lanvin segment decreased from €64m in H1 2022 to €57m in H1 2023. Meanwhile, Wolford saw revenue growth of 8.4% to €59m over the period.
The Sergio Rossi and St John segments reported revenue growth of 22.4% and 11.3%, respectively, in H1 FY23.
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The Lanvin Group registered a gross profit of €125m in H1 FY23, up from €113m in the same period of FY22.
Its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) dropped to -€41m in H1 FY23, against -€36m in H1 2022.
Lanvin Group chairman and CEO Joann Cheng said: “We continue our track record of global growth while we make progress on our path to profitability. Our improvement in gross profit and contribution profit are evidence of our commitment to securing profitable growth. We have done the groundwork for our brands to accelerate their growth and are excited about our prospects for the remainder of 2023.”
Cheng added: “We also made several strategic reorganisation decisions with respect to Lanvin, which had an expected short-term impact in the first half of 2023.
“We believe we have now placed Lanvin in a much stronger position and look forward to seeing the results of these decisions such as a new collection from our first Lanvin Lab guest designer, the Grammy-winning artist Future.”