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| Statement |
|---|
| To me, it is very good results already, very hard-earned in this challenging environment |
| We have a very strong portfolio of clients that actually -- that we are able to produce the quality of the suits – the quality of the suits for them, and those suits are selling very well, and that's why we have a very stable orders, I mean, from these clients |
| Second is our advertise on the DTC channel yield solid results for e-commerce as well as the store level like-for-like revenue |
| John we are actually thriving a very strong product that is for the woman's power |
| Caruso, actually, I mean, again, Caruso has also built a very strong reputation in terms of their quality, but we are able to produce some of the best suits and menswear, I mean, in the market and actually, not only for -- to see the markets, the Caruso brand itself, but it also to B2B market, I mean, which we have strong clientele |
| Lanvin Group showed tremendous resonance and continue on its growth trajectory |
| John actually achieve a very good result, I mean, for 2023 |
| Therefore, I am pleased to report that Lanvin Group managed to maintain growth for the year, and I'm confident in our management’s ability to continue to build upon the foundation and we have built on our path to profitability |
| Our revenue for the full year 2023 lands at €426 million, a 1% increase versus 2020, and as we continue to implement the growth and operational initiatives, we remain optimistic for 2024 and beyond |
| The brand also successfully optimized its retail experience, which drove growth for the brand in all its regions |
| John actually have already built a very strong foundation and phase in terms of the brand as well as in the American market |
| Not only did we have a tremendously successful products long-term net capsules with Future, who is the Grammy award-winning artist, beyond toward the long-term mature, long-terms are coming whether in a [indiscernible] we launch and was a smart heat Wolford campaign of Greystones [ph] was well received |
| 2023 highlights include a successful re-launch of iconic Mermaid collection and the continued popularity of the core sr1 product offering, which became a point of increasing emphasis for the brand throughout a year |
| If you look at our D2C kind of revenue, we actually have a positive kind of momentum even with the net change of store counts, right? So, that's something we are pretty proud of, and we continue to do that |
| Lanvin Group continues to improve its financial results and drive operational initiatives outlined prior to our public offering |
| Caruso's revenue were mainly driven by its B2B Maisons business, which grew by double-digits, benefiting from a strong client base as well as acquisition of additional marquee clients |
| And of course, I mean, for the shoe, I mean, which used to be among the clubs, we have very strong performance for the clubs in the past years, and then we would continue to develop the shoes |
| So we've seen that actually we were delivering very strong products that are catered for the regional demands |
| The brand has nearly doubled its revenue in two years, thanks to its playful elegance approach to high-end tailoring and its unmatched quality and price ratio |
| I believe we have built the foundation for our brands and our group for the next five years, and there is significant operational message that we can capitalize on by increasing our scale |
| Furthermore, the second half revenue improved despite softening market conditions |
| Multiple campaigns and product launches, including the first Lanvin Lab capsule in November, provided a boost in the second half and a window to see what is to come with the completion of the creative transition |
| In 2024, the brand expects to see a further growth by market share gains by enhancing made-to-measure services and focusing on reorders |
| And this is also our brands, I mean, including Lanvin, the Wolford, Sergio Rossi actually, we start penetrating into these markets, particularly Sergio Rossi actually is performing further well in the Japan market |
| Caruso had a strong growth in -- with 2023 revenue coming in at about €40 million compared to €31 million for the full year 2022, representing a growth of 30% |
| John customers, just you can see just from the e-commerce growth, we grew able to grow 15% and then our revenue is still able to grow in the same kind of almost a single market for St |
| John's 2024 priorities include further diversifying product offerings and improving its eCommerce experience as well as realignment on its global supply chain to improve operating efficiency |
| Additionally, the focus on D2C drove like-for-like revenue to increase by 6% for its store network |
| But as a sign of strength in the APAC region, Japan wholesale revenue increased 13% |
| We continued to improve our operations and cost structure, and we established our creative direction at our flagship brand |
| Statement |
|---|
| We did see a decrease in revenue from the first half to the second half of the year, which aligned with the general softening of the macroeconomics |
| Wholesale revenue declined by 23%, driven by challenges for wholesalers in a softening retail market, combined with the lower orders as wholesalers worked out excessive inventory purchased from overall market in 2022 |
| 2023 was a year of macroeconomic headwinds and global challenges |
| Lanvin generated revenues of €112 million in 2023, compared to €120 million in 2022, representing a decline of 7% |
| Regionally, EMEA, Caruso's core market grew by 46% and North America revenue decreased due to the soft demand from OEM clients |
| I think we are -- we definitely see a little bit of softness on the wholesale channel |
| Overall, wholesale revenue decreased by 12%, mainly driven by lower third-party production activity |
| A softening second half saw the luxury fashion industry in a position it has not been in quite some time |
| So the Greater China market, that definitely has some softness, I would say, in the second half of -- especially in the second half of 2023 |
| 2023 revenue decreased by 4% to €60 million compared to €62 million in 2022 |
| So actually, we're seeing that, I mean, despite -- I mean there's a macro economy headwinds, I mean, across the global market |
| While the brand finished the first half with revenue down 11%, a stronger second half resulted in an overall annual decline of 7% |
| I mean, as we have been experiencing some headwinds |
| EMEA, Lanvin's largest geographic region, saw a decline of 16%, while North America was relatively flat |
| Additionally, we reduced our DOS base by 12 stores, yet maintained a flat like-for-like revenue growth |
| Looking forward to 2024, we, much like the market, anticipate macroeconomic uncertainty |
| The D2C channel decreased at a more moderate 5%, with e-commerce remained flat |
| EMEA saw a slight decline, while North America grew 2% on a constant currency basis |
| So I wonder how that industry-wide pressure would impact our path to profitability |
| Europe show a small decline year-over-year, while North America show a small increase |
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