Lanvin Group posts 20% revenue decline in H1 FY24 [Yahoo! Finance]
Lanvin Group Holdings Limited (LANV)
Company Research
Source: Yahoo! Finance
The global luxury fashion group is headquartered in China and manages brands worldwide, including Lanvin, Sergio Rossi, Wolford and Caruso. During the period, the company's direct-to-customer (DTC) channel revenue dropped by 14% and wholesale revenue by 30%. The revenue of the Lanvin segment decreased to €48m in H1 2024 from €57m in H1 2023, and Wolford's revenue dropped by 28% to €43m over the period. Regionally, Lanvin's Europe, Middle East and Africa region delivered a revenue decline of 27%, while Greater China and North America reported revenue declines of 24% and 11% respectively in H1 FY24. The company's gross profit dropped to €98m, accounting for a 58% margin, compared to gross profit of €125m at a margin of 59% in H1 2023. Its adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) was -€42m in H1 FY24 against -€41m for H1 2023. The company attributed the decline in revenue to global market softness, the struggling wholesale market and a
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LANV
Sec Filings
- 11/19/24 - Form 6-K
- 11/14/24 - Form SCHEDULE
- 10/21/24 - Form EFFECT
- LANV's page on the SEC website