China’s Lanvin Group H1 gross margin rises despite 13% revenue decline
For the six months ended June 30, 2026, group revenue fell 13 per cent year on year to €101 million (~$117.74 million, as per conversion rate of $1 = €0.8578 as on August 27, 2026), primarily reflecting the planned reduction in store count and the ongoing repositioning of its portfolio brands. The group operated 151 directly managed stores at period end.
Lanvin Group’s revenue fell 13 per cent year on year to €101 million in H1 2026, mainly due to store reductions and portfolio repositioning.
Despite the decline, gross margin improved to 59 per cent, while adjusted EBITDA losses narrowed to €35 million from €52 million a year earlier, reflecting stronger sell-through, tighter inventory management and cost discipline.
Gross profit reached €59 million (~$68.78 million), with the gross margin expanding to 59 per cent from 57.7 per cent a year earlier, supported by improved sell-through, disciplined inventory management and efficiency initiatives across major brands.
Contribution profit improved to -€9 million (~-$10 million), a €10 million (~$11.66 million) improvement over the prior-year period, driven by lower selling expenses and broader cost discipline.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) losses narrowed to -€35 million (~-$41 million) from -€52 million (~-$61 million) in the first half of 2025, reflecting ongoing efficiency measures and selective investment in creative initiatives and product development, according to the company’s semi-annual report.
“The first half represented an encouraging step forward for the Group. Supported by renewed creative and executive leadership across our houses, we are confident in our ability to progressively unlock the long-term potential of our brands amid market challenges,” said Zhen Huang, chairman, Lanvin Group.
“We have reshaped how the Group operates emerging leaner, more agile and materially more efficient. With that foundation in place, the second half is about further execution: activating our new creative and commercial leadership, sharpening our channel mix, and bringing a compelling pipeline of collections to market to reignite brand desirability and consumer engagement,” added Andy Lew, executive president, Lanvin Group.
Brand and segment performance
By brand, Lanvin recorded revenue of €22.9 million (~$26.70 million), down 18 per cent year on year, while Wolford posted €31 million (~$36.14 million), a 6 per cent decline.
St. John delivered €35.5 million (~$41.38 million), down 11 per cent, and Sergio Rossi reported €10.9 million (~$12.71 million), a 29 per cent drop.
Wolford achieved a 60 per cent gross margin, while St John maintained a stable 70 per cent margin and saw e-commerce sales rise 31 per cent in its reporting currency.
The group’s gross margin expanded by 1.3 percentage points to 59 per cent, reflecting stronger sell-through and improved product lifecycle management.
Contribution profit margin improved by 7.7 percentage points, and adjusted EBITDA margin improved by 10.7 percentage points, underpinned by disciplined cost management and operational efficiencies.
Outlook and strategic priorities
Looking ahead to the second half of 2026, Lanvin Group aims to advance its transformation agenda, unlock new revenue opportunities across markets and channels, and accelerate strategic partnerships and collaborations.
The group will maintain disciplined cost and cash management while investing selectively in growth initiatives.
Brand-specific priorities include deepening client engagement for Lanvin, expanding wholesale and e-commerce at Wolford, building on new collection momentum at Sergio Rossi, and leveraging creative leadership at St John.
Fibre2Fashion News Desk