Lanvin Group continues to struggle with declining sales and profitability in 2025. The Chinese luxury conglomerate, listed on the New York Stock Exchange and formerly known as Fosun Fashion Group, owns brands including Wolford, Sergio Rossi, St. John, and Caruso. For the first half of 2025, the Group reported revenue of €133 million, representing a 22% year-over-year decline. Its namesake label, Lanvin, experienced a dramatic sales collapse of over 40%. Gross profit also declined by 26.8%, falling to €71.9 million, while gross operating losses deepened.
The downturn, according to Group management, reflects ongoing weakness in the global luxury market, compounded by “lower wholesale sales in the EMEA region” and the Group’s strategic pivot toward direct-to-consumer sales, which dropped 23%. Lanvin’s performance was a significant drag on the Group’s overall figures.
Once positioned as Lanvin Group’s strongest asset, the Paris-based label fell to third place in the portfolio within one year. Sales for the brand plummeted by 42.1%, sliding from €48.2 million in H1 2024 to €27.9 million by June 30, 2025. Regionally, Lanvin’s sales plunged by over 60% in Greater China and by 47% in Europe. The label’s gross profit dropped to €15.1 million, down from €28 million in the prior year, with a gross margin of 58%.
The Group described this period as “a time of transition,” noting that multi-brand retailers adopted a wait-and-see approach ahead of the debut of Lanvin’s new aesthetic. British designer Peter Copping, appointed as artistic director at the end of 2024, revealed his first collection for the house in January. Wholesale sales dropped by 61.8%. Still, Lanvin Group sees potential in early signs of retail recovery: “Lanvin and Sergio Rossi recorded a strong quarter-on-quarter rebound in retail and online, highlighting early signs of renewed consumer interest,” the company said.
Mixed results across other brands
Sergio Rossi, which also underwent a creative transition with the arrival of designer Paul Andrew—whose debut collection is expected in the second half of the year—saw first-half sales fall by 25% to €15.3 million. Gross margin slipped by 9% to €6.2 million, a shift attributed to a revised product assortment.
Sales at American luxury knitwear brand St. John remained relatively stable, falling just 0.8% to €39.6 million. Meanwhile, the Wolford brand reported €32.9 million in revenue, a 22.6% decline. Menswear specialist Caruso reported sales of €17.6 million, a 10.7% decrease.
Losses deepen as the Group looks ahead
Adjusted gross operating loss (Ebitda) for the Group rose from -€42 million in the first half of 2024 to -€52 million one year later. Gross margin dropped to 54%, down from 58%. According to the company, the decline was due to the sale of off-season inventory during the creative transition, underutilization of production facilities, and changes to product mixes. “Although all brands took steps to improve sales and manage inventory levels, these efforts were offset by the industry-wide headwinds encountered during the period,” the company said.
A focus on rebuilding brand momentum
“In the first half, we focused on operational discipline and laying the foundations for future growth,” said Lanvin Group Executive Chairman Andy Lew, who was appointed earlier this year. “With a new creative direction across our houses, supported by targeted marketing and refined channel strategies, we expect to build brand momentum and increase consumer engagement in the second half. We remain agile and focused on execution, while reinforcing the desirability of our brands and preparing for the recovery.”
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