Lanvin Group Holdings Ltd. Q4 FY2025 earnings call

• 2025 was a year of external challenges (global luxury market under pressure, especially in Greater China) and internal transformation (streamlining operations, optimizing retail footprint, reinforcing focus on core brands).
• Reported revenue of €240 million, down 18% y-o-y, but saw sequential improvement in second half, especially at Lanvin and Wolford.
• Streamlined retail footprint to 174 directly operated stores, achieved ~12% savings in operating expenses, gross margin 58% in 2025.
• Completed carve out of Crusoe in early 2026 to concentrate on core brands. Strengthened brand leadership through team upgrades. Made key appointments at St. John and Wolford.
• Lanvin: 2025 was year of repositioning and rebuilding, introduced refreshed creative direction under Peter Coping, saw early momentum in second half.
• Wolford: Made significant progress, first half impacted by logistics disruptions but second half improved with wholesale growth, 75th anniversary helped.
• Sergio Rossi: Continued transformation, focused on operational fundamentals, streamlined retail network, advanced asset-light model.
• St. John: Resilient performance, revenue declined only 1%, strong in North America, wholesale and e-commerce grew, strong growth margins.

For 2025, Lanvin revenue declined by 30% to 58 million euros. Wolford revenue declined by 14% to €76 million. Sergio Rossi revenue declined by 30% to €30 million. St. John revenue declined only 1% to 78 million euro. DTC remained the largest contributor, accounting for approximately 68% of total revenue. Lanvin's gross margin remained stable, Wolford's performance improved in the second half with wholesale growing 19%, Sergio Rossi's gross margin declined due to channel mix and lower production scale but cost control was strict, and St. John had strong performance in North America with wholesale and e-commerce as growth drivers and strong growth margins.

• 2026 focus on completing transformation and moving towards sustainable profitability.
• Continue to advance initiatives launched in 2025 including portfolio and channel optimization, cost discipline, asset-light model.
• Expect continued recovery at Lanvin and Wolford, further progress at Sergio Rossi, stable performance at St. John.

• Global luxury market under pressure, particularly in Greater China, with softer consumer demand and macroeconomic uncertainty.
• Macro environment remains uncertain which could impact future performance.

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