Lanvin Group Sees 20% Decrease in H1 2024 Revenue, Totaling $171 Million
Lanvin Group's Revenue Decline
In the financial statement for the first half of 2024, Lanvin Group disclosed a total revenue of ?171 million. This marks a significant 20% decrease compared to H1 2023 figures. The financial performance reflects difficulties that are prevalent across the luxury fashion sector.
Gross Profit Margin Stability
Despite the decline in revenue, the group's gross profit margin exhibited remarkable stability, with a minor reduction of just 1%, landing at 57.5%. This indicates resilient operational efficiency amid market challenges.
Brands Impacted
Key brands within the Lanvin Group, including St. John and Caruso, displayed varied performances during this period, contributing to the overall results. Investor attention is now focused on strategic adjustments to bolster revenue moving forward.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.