Lanvin Group Holdings Ltd. Q4 FY2024 earnings call

• 2024 was defined by macroeconomic turbulence, but the group achieved critical milestones. Global revenue was €329 million, a 23% decrease from 2023. - Managed to maintain a stable gross margin of 56% despite the revenue decline, reduced G&A expenses by 15% year-over-year, and improved operating cash flow by 32% from 2020 to 2024. - Brand portfolio revitalization efforts: Caruso and St. John showed strong improvements, Lanvin saw revenue growth through investment, Wolford adjusted to a full lifestyle brand, and Sergio Rossi launched global retail expansion. - Appointments of new creative leadership like Peter Copping for Lanvin and Paul Andrew for Sergio Rossi signaled new eras of innovation.

For fiscal year 2024, Lanvin Group's global revenue was €329 million, a 23% decrease from fiscal year 2023. Regarding individual brands: Lanvin saw revenue increase to €82.7 million in 2024, more than doubling from €35 million in 2020. Wolford adjusted its product mix to position as a full lifestyle brand. Sergio Rossi had revenue down 30% to €42 million in 2024, with EMEA and Greater China markets affected. St. John's revenue declined 12% to €79 million in 2024, but gross margin surged 6 percentage points to 69%. Caruso's contribution profit increased to €8.8 million in 2024, up from €3.2 million in 2022, and its brand business grew double digits. Lanvin contributed around a significant portion, Wolford, Sergio Rossi, St. John, and Caruso each had their own revenue contributions within the group.

• Build a dynamic leadership team combining industry veterans with fresh perspectives, with a new European headquarters in Milan to enhance regional oversight. - Leverage the creative momentum from Peter Copping and Paul Andrew's collections with 360-degree marketing campaigns. - Continue to optimize store networks, prioritize high-traffic locations, and refine inventory management and pricing strategies. - Focus on key cities and tap into high-growth luxury markets, expanding in regions like the Middle East through partnerships.

• Macro-economic pressures weighted heavily on EMEA and Greater China markets. - Uncertainties related to brand creative transitions. - Logistics disruption impacted Wolford's performance in 2024. - Retail market疲软 affected Sergio Rossi and other brands' performance.