Q4 2024 Lanvin Group Holdings Ltd Earnings Call Transcript
Key Points
- Lanvin Group Holdings Ltd (LANV) maintained a stable gross margin of 56% despite a 23% decline in revenue, showcasing effective cost control and inventory management.
- The company reduced GNA expenses by 15% year over year, demonstrating a streamlined cost structure.
- Lanvin's revenue increased to EUR82.7 million in 2024, more than doubling from EUR35 million in 2020, driven by brand reinvigoration and appeal to a new generation of luxury consumers.
- Caruso's contribution profit increased significantly to EUR8.8 million in 2024, reflecting success in refined distribution strategy and growing demand.
- St. John's contribution profit grew from a loss in 2020 to EUR8 million in 2024, thanks to strategic investments in brand repositioning and digital infrastructure.
- Global revenue for Lanvin Group Holdings Ltd (LANV) decreased by 23% to EUR329 million in 2024, reflecting broader industry trends and macroeconomic pressures.
- Sergio Rossi faced a 30% revenue decline in 2024, impacted by EMEA wholesale softness and reduced third-party production.
- Wolford's revenue declined by 30% to EUR88 million in 2024 due to macroeconomic volatilities and logistic disruptions.
- Lanvin experienced a 26% revenue decline to EUR83 million in 2024, attributed to softer luxury demand and creative leadership gaps.
- The integration of Wolford Logistics had a significant impact on adjusted EBITDA, estimated between EUR14 million to EUR18 million.
Thank you for joining us and welcome to the Lanvin Group's fiscal year 2024 financial 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 of Lanvin Group and Andy Lew, executive President of Lanvin Group. I will now turn it over to David to start the presentation.
Thank you and welcome to all the participants. I'm David Chan, executive President and CFO of Lanvin Group. Today, we'll take you through a comprehensive view of Lanvin Group's performance in 2024. The strategic
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