Lanvin Group achieves record 52% pro forma revenue growth
Lanvin Group has revealed that it has reached a critical inflection point in its development with record growth in 2021.
The group posted a 52% increase in pro forma revenue to €339 million in the year driven by growth of Lanvin, a strong comeback at Wolford, and the integration of the recently acquired Sergio Rossi brand into its portfolio.
With a significant improvement of 33% in adjusted EBITDA performance in the past year, the group said it achieved break-even in its contribution margin in 2021 and believes it is well on track to achieve EBITDA profitability by 2024 as planned.
Joann Cheng, chairman and chief executive of Lanvin Group, said: “Lanvin Group is proud to have delivered budget-beating results in 2021, with record growth. Building on the tremendous hard work of our team in delivering on our strategy over the past three years, 2021 has been a milestone year where we have achieved contribution margin break-even and had a record 52% pro forma revenue growth.”
While global sales at Lanvin grew by 108% year-on-year to €73 million, Wolford recorded revenue of €109 million, which was an increase of 15% year-on-year.
On an IFRS consolidated basis, the group generated €148 million in revenue from its established EMEA market in 2021, representing 48% of global sales, and recorded 30% year-on-year sales growth amid Covid-19 lockdowns.
Meanwhile global direct-to-consumer sales increased by 50% as the group continued to open new stores for its brands in Europe, North America and Asia.
Looking ahead, Chen added: “We expect 2022 to be even better. We have significant momentum across all of our brands as we continue to solidify our foundation in Europe and capture the multiple untapped opportunities which exist in the North American and Asian markets.”
