Lanvin Group is pushing ahead with a deep strategic reset after a tough year for luxury, posting preliminary €240.5 million in 2025 revenue from continuing operations, down 17.6% year over year. The Shanghai and Milan headquartered luxury group is using the downturn to streamline its portfolio, tighten operations, and refocus each maison on its home market strengths ahead of an expected transformation completion in 2026.
2025 Topline: Revenue Down but Trends Improving in H2
Excluding the recently carved out Caruso business, Lanvin Group’s preliminary unaudited revenues from continuing operations came in at €240.5 million, versus €291.9 million in 2024, an overall decline of roughly 18% on a reported currency basis. Management notes that revenue trends improved in the second half of 2025 compared to the first, reflecting early benefits from cost discipline, assortment work, and retail optimization across brands.
By brand, Lanvin generated €57.6 million (down 30%), Wolford €75.6 million (down 14%), St. John €78.2 million (down just 1%), and Sergio Rossi €29.5 million (down 30%). Direct to consumer and eommerce remained the largest channel at €164.0 million (down 18%), while wholesale revenues declined 15% to €66.7 million.
Brand by Brand: Resilience at St. John, Reset at Lanvin, and Sergio Rossi
Among the maisons, St. John stood out as the relative bright spot. The American luxury knitwear brand delivered 8% revenue growth in North America in local currency, supported by its long standing client base and a clear focus on its home market, even though reported global revenue was marginally lower year on year.
Wolford’s performance stabilized in 2025 as supply chain and logistics improved, with strong momentum in e commerce and wholesale in the second half, while new CEO Marco Pozzo stepped in to steer the next phase. At Lanvin, the Group continued its creative reboot under Artistic Director Peter Copping; his debut womenswear collection drew strong industry feedback and helped drive encouraging order momentum, even as the brand’s reported revenue fell 30%.
Sergio Rossi spent much of the year shifting toward an asset light model, including adjustments to its manufacturing footprint to improve flexibility and reduce fixed costs. The Group also completed the strategic carve out of Caruso on February 6, 2026, removing it from consolidated results and allowing management to concentrate capital and attention on its four core luxury brands. Leadership was further reinforced with Barbara Werschine named Deputy CEO of Lanvin and Mandy West appointed CEO of St. John.
Regional and Channel Dynamics in a Softer Luxury Market
Regionally, North America proved the most resilient, with revenues of €116.0 million, down 6% year on year, a comparatively modest decline given broader luxury volatility. EMEA revenue dropped 21% to €90.5 million, reflecting more cautious wholesale orders and shifting consumer spending across Europe, the Middle East and Africa.
The steepest decline came in Greater China, where revenue fell 42% to €19.5 million amid softer luxury demand and channel normalization after earlier post pandemic rebounds. Across regions, Lanvin Group continued to selectively close underperforming stores, tighten wholesale exposure, and sharpen its commercial strategies to better align with local market conditions and profitability goals.
Transformation, Portfolio Optimization, and 2026 Priorities
Throughout 2025, the Group advanced a broad transformation program, including cost control measures, organizational restructuring and retail network optimization across its brands. These initiatives are expected to be largely completed in 2026, laying the groundwork for improved profitability and more sustainable growth once market conditions normalize.
Looking ahead, Lanvin Group says its maisons will deepen their presence and leadership in their respective home markets, leveraging local insight and loyal client bases, particularly at St. John in North America and Lanvin in Europe, while selectively expanding asset light initiatives and strategic partnerships in other geographies. Alongside continued creative renewal and a streamlined operating structure, these moves are designed to sharpen the Group’s positioning in an evolving global luxury landscape where scale, differentiation and operational discipline are increasingly critical.
