Adjusted EBITDA loss widened to €52 million (approximately USD 56.5 million).

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The global luxury market remains sluggish, with significant revenue impacts in the EMEA region and the Greater China region, while the Lanvin brand achieved a strong 9% growth in the Asia-Pacific region outside of Greater China.

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Despite a weaker market environment in the second half of 2023, Lanvin Group, in a year of transformation, achieved overall growth: sales for the full year 2023 increased by 1% year-on-year.

During the period, the Greater China region exhibited robust growth of 13.9%. The group anticipates achieving the transformation of EBITDA from loss to profit as scheduled in 2024 after adjustments.

Despite Wolford’s immediate corrective measures, such as cost-cutting, the loss situation in the first half of 2022 could not be fully alleviated.

Lanvin, the Group’s flagship brand, grew global revenue by 67%, with record 145% growth in its Wholesale business.