Full Year Preliminary 2024 Lanvin Group Holdings Ltd Earnings Call Transcript
Key Points
- Lanvin Group Holdings Ltd (LANV) has taken proactive measures to consolidate its store network and optimize its retail footprint, enhancing operational efficiency.
- The appointment of Andy Lew as Executive President is expected to drive strategic implementation and transformative initiatives across the brand.
- The company is establishing a second headquarters in Europe to streamline operations and enhance decision-making agility.
- Lanvin Group Holdings Ltd (LANV) is focusing on new revenue growth points through strategic partnerships and collaborative ecosystems.
- The debut fashion show by the new Artistic Director, Peter Copping, received positive press and is expected to boost product deliveries in the second half of 2025.
- Lanvin Group Holdings Ltd (LANV) reported a 23% decrease in preliminary revenue for 2024, reflecting broader industry challenges.
- Wholesale revenue fell by 32% due to a weak market for retailers, particularly affecting Greater China and North America.
- Wolford's revenue declined by 31%, with the EMEA region most affected, primarily due to integration problems with a new logistics partner.
- Sergio Rossi's revenue declined by 30%, with significant decreases in the EMEA market and Greater China.
- St. John's e-commerce revenue decreased by 15%, impacted by platform migration and distribution relocation.
Thank you for joining us and welcome to the Lanvin Group fiscal year 2024 revenues results conference call. (Operator Instructions) Please note this event is being recorded.
Now please take a moment to review the disclaimers. During this presentation, the company will be making certain forward-looking statements, including but not limited to future performance and industry outlook. Forward-looking statements are inherently subject to risks, uncertainties, and other factors, and they are not guarantees of performance.
For today's presentation, I would like to introduce David Chan, Executive President and CFO; and Andy Lew, Executive President.
I will now turn it over to David to start the presentation.
Thank you and welcome to everyone joining us today. I'm David Chan, Executive President and CFO of Lanvin Group. As anticipated, 2024 was a challenging year for the luxury fashion industry, marked by macroeconomic headwinds and a softened market
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