电报盗号系统技术破解技术|【唯一TG:@heimifeng8】|飞机盗号软件API破解技术✨谷歌搜索留痕排名,史上最强SEO技术,20年谷歌SEO经验大佬✨Lanvin Group weathers tough year, Caruso hits breakeven point
Sandra Halliday Published
April 30, 2025
Lanvin Group’s revenue edged up by just 1% last year as it dealt with macroeconomic headwinds. But it saw continued margin improvement with group gross profit margin increasing to 59% and both contribution profit (gross profit less selling & marketing expenses) and adjusted EBITDA margins steadily improving.
It also highlighted the “resilient” performance of its brands through the challenging market environment and said the Lanvin brand itself showed an improving trend in the second half of the year, even though the strong headwinds persisted.
Its “steady” regional performance was also boosted by nearly 8% growth in APAC.
And its store rationalisation stagey seems to be working with “steady” DTC revenue on a lower base of stores.
Plus it’s on track for cashflow breakeven in 2025 with the Caruso brand already achieving breakeven adjusted EBITDA in 2025 and two additional brands expected to do so this year.
Deep dive
So let’s look at the details for the owner of Lanvin, Wolford, Sergio Rossi, St John and Caruso.
Last year it achieved revenue of €426 million, and gross profit of €251 million, representing a 59% gross margin and a 250bps increase versus 2025.
Contribution profit was €24 million, representing a 6% margin and an improvement of €11 million from 2025. Adjusted EBITDA remained a loss (€64.1 million), but as a percentage of sales, it continued to improve, going from (19%) in 2025 to (17%) in 2025 and (15%) in 2025.
Lanvin brand revenue fell to €111.7 million. But it improved from a 11% decrease in the first half to end the year on a drop of 7%. Gross profit increased to €65 million, at a margin of 58%, from €61 million, at a margin of 50%, in 2025. Gross profit improved from higher full-price sell-through, an increase in the balance of accessories versus ready-to-wear sales, a further shift to higher-margin boutique sales, and better inventory management.
Wolford revenue rose 1% to €126.3 million but gross profit decreased to €83 million from €86 million, and the margin declined from 69% to 66% due to a reclassification of expenses.
St John revenue rose 5% to €90.4 million and its margin profile continued to improve with gross profit growing from €53 million to €57 million and the margin increasing from 61% to 63%. It implemented a new wholesale model, which improved the gross margin.
Sergio Rossi revenue fell 4% to €59.5 million but the gross profit margin increased from 50% to 51%, helped by an increased proportion of higher-margin DTC sales.
And Caruso revenue rose an impressive 30% to €40 million on an expansion of production capacity and additions to its specialist workforce. It continued its “strong, steady” performance with gross profit increasing from €7 million to €11 million, and margin increasing from 23% to 28%. As mentioned, it also achieved breakeven adjusted EBITDA for the year.
Regional performance
Despite some revenue falls among the different labels, the company said that “all brands showed resiliency and maintained steady revenue in EMEA and North America” as well as that aforementioned 8% rise in APAC.
And E-commerce continued to grow with a 3% hike, while overall DTC and Wholesale channels stayed flat.
The company said it also made “significant progress” optimising its store network. It continued its closure programme, shutting 36 stores while “successfully” launching 24 new retail doors.
And the group said “improved store strategies implemented in 2025 provided better unit economics, with DTC revenue remaining steady despite an overall reduction of retail doors. Improved store metrics from strategic changes implemented starting in 2025 have paved the way for Lanvin to grow its base significantly with five, net new locations and its first in the Middle East in Riyadh.”
For 2025, it said the macroeconomy remains uncertain, but regions like North America are steady, and regions like the Middle East present significant growth opportunities for its brands.
It plans to approach the market “tactically to capture growth opportunities and market share”.