Revenue up 73% for Lanvin in first half of year

Worldwide
Published:  19 October, 2022
Credit: Lanvin

Global luxury fashion group Lanvin has announced 73% revenue growth year-on-year for the first half of its financial year.

The company reports that this growth rate “represents one of the highest growth rates in the global luxury industry”, with recording revenue reaching €202 million.

Lanvin attributed the performance to growth in Europe and North America, where revenue was up by 91% and 58% respectively.

In Asia, sales were up by 194% as the group continues to enter new markets, while Greater China saw growth of 32% despite Covid restrictions.

The Lanvin brand achieved sales growth of 117% year-on-year in the first half of the year, totalling €64 million, while Wolford recorded revenue of €54 million, up 29% year-over-year.

Direct-to-customer (DTC) sales were reportedly up by 66%, thanks to strategic retail store openings and e-commerce expansion, including JD.com and RED Mall in China.

Joann Cheng, Chairman and CEO of Lanvin Group, said: "Lanvin Group continues to deliver on its strategy, with record first half results and momentum continuing to build across all brands, in all markets and across all sales channels."