Half Year 2026 Lanvin Group Holdings Ltd Earnings Call Transcript
Key Points
- Gross margin improved to 59% from 57.7%, with contribution profit margin and adjusted EBITDA margin improving by 7.7 and 10.7 percentage points, respectively.
- E-commerce business returned to growth in H1 2026, with notable gains at Wolford (22% growth) and St. John (31% growth in reporting currency).
- Like-for-like retail sales remained positive across Lanvin and Wolford despite store closures, indicating underlying demand strength.
- Wholesale revenue grew 16% at Lanvin and 21% at Sergio Rossi (excluding third-party production), signaling renewed partner appetite.
- Brand-level G&A costs have been significantly reduced since H1 2023, with reductions of 30% at Lanvin, 50% at Wolford, and 45% at Sergio Rossi, contributing to a leaner cost structure.
- Group revenue declined 13% year-over-year to EUR101 million, reflecting ongoing market challenges and deliberate portfolio rationalization.
- Sergio Rossi's revenue dropped 28.6% year-over-year, with gross margin temporarily pressured by channel mix shifts, clearance activity, and supply chain transition.
- St. John's revenue fell 10.5% (5% on a USD basis) due to retail footprint rationalization and unfavorable currency dynamics.
- Directly operated store count was reduced from 174 at end-2025 to 151 by June 2026, indicating continued network contraction.
- Adjusted EBITDA margin remained deeply negative at -34%, and contribution profit margin was still negative at -8.9%, highlighting ongoing profitability challenges.
Thank you for joining us and welcome to the Lon Vaughan Group's 2026 First Half Financial Results Conference Call. All participants will be in a listen-only mode.
Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. 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 guarantee of performance. For today's presentation, I would like to introduce Ross Lowe, CFO of Lonvon Group. With that, I would like to turn it over to Ross to start the presentation.
Thanks very much, and welcome, everyone, and good morning. I'm Ross, and I'm very pleased to join La
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