Gross profit for the period was €237.9 million, an increase of 40% over the same period in 2021 and a gross profit margin of 56%. Lanvin noted that its direct-to-consumer (DTC) and wholesale channels grew by 32% and 41% respectively.
Flagship brand Lanvin saw gross profits increase by 79% to €61 million with a margin of 50% thanks to higher sell-through rates in all product categories as well as increasing economies of scale.
Meanwhile, Wolford had a gross profit increase of 8.9% to €86 million while margins fell slightly due to materials inflation as well as production personnel costs increasing from furloughed employees returning to work at higher wages.
Sergio Rossi, which the group acquired in July 2021, had a gross margin increase from 46% to 50% in 2022 with an increased proportion of higher-margin DTC sales. St. John had a gross profit increase of 36% to €53 million and Caruso achieved an increase of 75% to €7 million.
Looking forward, Lanvin Group expects to maintain its 2022 momentum into 2023 and achieve solid margin improvement as the year progresses.
Joann Cheng, Chairman and CEO of Lanvin Group, said: “We are pleased with the progress made in 2022. Not only did we achieve record revenues, but we also made great strides in improving our cost structure and streamlining our operations.
“Our progress in 2022 has laid a strong foundation for 2023, and notwithstanding current macroeconomic conditions, we remain optimistic for the current year, especially with the continued resurgence of Greater China.”
