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Lanvin Group Holdings Limited (LANV) 2023 Sales/ Trading Statement Call Transcript
2024-02-21 15:23
Lanvin Group Holdings Limited (NYSE:LANV) 2023 Sales/ Trading Statement Call February 21, 2024 8:00 AM ET Company Participants Eric Chan - Chief Executive Officer David Chan - Executive President & Chief Financial Officer, Conference Call Participants Tracy Kogan - Citi Oliver Chen - TD Cowen Liwei Hou - CICC Operator Thank you for joining us, and welcome to the Lanvin Group's Fiscal year 2023 Revenue Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today' ...
2023 Sales/ Trading Statement Call
2024-02-21 14:53
Forward-Looking Statements This presentation, including the sections “LANVIN GROUP 2023 PRELIMINARY REVENUES”, “2024 GUIDANCE”, “BRAND-LEVEL 2023 PRELIMINARY REVENUE” and “APPENDIX”, contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “pr ...
Lanvin Group Resiliency was Key in 2023, Preliminary Revenues Up 1% Year-on-Year
Prnewswire· 2024-02-21 10:00
Revenue of €426 million for FY2023, a 1% increase over FY 2022 Despite challenging conditions, Lanvin Group grew revenue by 8% in APAC Resiliency through creative transition at Lanvin brand helped improve sales trend in the second half of 2023 Positive signals in the DTC channel, including e-Commerce are proving the effectiveness of the Group's strategy Ongoing implementation of strategic plans in 2023 to drive further revenue growth and margin improvement NEW YORK, Feb. 21, 2024 /PRNewswire/ -- Lanvin Gr ...
Lanvin Group(LANV) - 2023 Q3 - Quarterly Report
2023-08-29 16:00
Exhibit 99.1 Semi-Annual Report As of and for the six months ended June 30, 2023 TABLE OF CONTENTS Page CERTAIN DEFINED TERMS 2 INTRODUCTION 2 NOTE ON PRESENTATION 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 4 INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) AT AND FOR THE SIX MONTHS ENDED JUNE 30, 2023 AND 2022 INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS F-1 INTERIM CONDENSED CO ...
Lanvin Group(LANV) - 2022 Q4 - Annual Report
2023-04-20 20:21
Financial Performance and Risks - The company has incurred significant losses in the past and anticipates continuing to incur losses for the current year and future years[42]. - The company incurred losses of €135.7 million, €76.5 million, and €239.8 million for the years ended December 31, 2020, 2021, and 2022, respectively, and anticipates continued losses in the current and upcoming years[47]. - The company expects to incur negative operating cash flows in the next few years and may need to raise substantial additional funding[163]. - The company may not pay cash dividends in the foreseeable future, as any decision will depend on various factors including financial condition and results of operations[197]. - The company faces significant inflation risks that could negatively impact its results of operations and financial condition[43]. - Significant inflation since 2021 may lead to increased costs for raw materials and production, adversely affecting profit margins if costs cannot be passed on to customers[105]. - Economic conditions, including volatility in financial markets, may adversely affect customer orders and payment capabilities, impacting overall business performance[104]. - The company is exposed to significant inflation risks that could negatively impact its results of operations and financial condition[43]. Regulatory and Compliance Risks - The company faces significant risks related to potential trading prohibitions under the Holding Foreign Companies Accountable Act, which could impact its ability to maintain a listing on U.S. exchanges[39]. - The company is subject to evolving PRC regulations that may require additional permissions and approvals for operations, which could materially affect its business[28]. - The company has not been informed of any requirement to apply for a cybersecurity review, but the interpretation of relevant regulations remains uncertain[31]. - The company is subject to legal and regulatory risks, including potential challenges related to its re-branding efforts and compliance with international laws[48][51]. - The company’s ability to maintain its NYSE listing may depend on the PCAOB's access to inspect its independent auditors, which could impact investor confidence[45]. - The company is subject to risks related to compliance with strategic alliances and licensing agreements, which could adversely affect its operations and financial condition[117]. - The company may face significant legal obstacles for U.S. authorities to pursue actions against it or its directors due to its operations in China[195]. - The company may need to use a substantial portion of its cash to pay dividends to Meritz, which could limit available funds for working capital and capital expenditures[203]. Market and Competitive Environment - The company faces intense competition in the personal luxury goods industry, which could adversely affect its market position and financial performance[43]. - The company is dependent on suppliers for products and raw materials, which poses operational risks if suppliers fail to meet quality or compliance standards[43]. - The company’s growth depends on successful retail expansion, which may not be achieved[42]. - The company’s strategic initiatives include optimizing product category mixes, expanding global channels, and reinforcing digital strategies to enhance customer experiences[61]. - The ability to predict and respond to changing fashion trends and consumer preferences significantly impacts sales and operating results, with inventory management being critical to profitability[88]. - The company is exposed to risks from counterfeit products, which can harm brand reputation and market share[82]. - The company faces intense competition in the personal luxury goods industry, competing with numerous luxury fashion designers and retailers, some with greater resources[87]. International Operations and Economic Conditions - The company operates in multiple international markets, exposing it to various regulatory, social, and political risks that could adversely affect its business[138]. - The company emphasizes significant reliance on developing global consumer markets, particularly in EMEA, North America, Greater China, and Other Asia, which may be adversely affected by changes in global economic, political, or social conditions[139]. - The Chinese government continues to play a significant role in regulating industry development, which could materially impact the company's operations and competitive position[141]. - Ongoing geopolitical tensions, including sanctions related to the Ukraine conflict, are adversely affecting the company's supply chain and customer base[155]. - Consumer purchasing behavior has been negatively influenced by economic conditions, job losses, and health-related concerns, resulting in decreased sales[69]. Corporate Governance and Shareholder Matters - Fosun International owns approximately 64.9% of the company's voting power, providing substantial influence over business decisions[218]. - The company may face difficulties in protecting shareholder interests due to its incorporation in the Cayman Islands and the location of its operations and management outside the U.S.[189]. - The rights of shareholders under Cayman Islands law may not be as clearly established as in U.S. jurisdictions, potentially complicating legal actions[190]. - The company may become a passive foreign investment company (PFIC), which could result in adverse U.S. federal income tax consequences[221]. - The company does not expect to be classified as a Passive Foreign Investment Company (PFIC) for the current taxable year or foreseeable future taxable years[222]. - The company qualifies as a foreign private issuer, exempting it from certain U.S. domestic public company regulations[186]. - The company is required to file an annual report on Form 20-F within four months of the fiscal year-end, with less extensive information compared to U.S. domestic issuers[187]. Operational Challenges - The company operates a limited number of distribution facilities, and any operational difficulties could materially affect business and financial condition[107]. - The direct-to-consumer (DTC) channel consists of directly operated stores (DOSs) and e-commerce platforms, with risks related to lease renewals and rental charges affecting financial performance[90]. - The company is exposed to risks related to data security and privacy breaches, which could damage reputation and relationships with customers[95]. - The regulatory environment regarding information security and privacy is becoming more demanding, potentially leading to significant compliance costs[100]. - The complexity and uncertainty in transfer pricing rules may lead to challenges from tax authorities, resulting in increased taxes and penalties[136]. Future Growth and Strategic Initiatives - Future growth is expected to depend on international retail expansion, including the opening of new stores, although challenges may arise in new markets[66]. - Acquisitions are a consistent part of the company's growth strategy, but there are risks associated with identifying suitable targets and achieving expected synergies[115]. - The company’s growth strategy is heavily reliant on enhancing relationships with existing customers and attracting new retail customers to direct-to-consumer channels[65]. - Marketing and advertising initiatives are crucial for customer acquisition, but rising costs and ineffective campaigns could hinder profitability[76]. - Failure to accurately forecast consumer demand may lead to excess inventory or shortages, adversely affecting operating margins and cash flows[78].
Lanvin Group(LANV) - 2022 Q4 - Annual Report
2023-04-19 16:00
Exhibit 99.1 IN GROU Lanvin Group Posts Record Sales and Continued Margin Improvement in 2022 Revenues Up 37% Year-over-Year • Revenues of €422 million for FY2022, a 37% increase over FY2021 • Margin profile improvement with Group gross profit margin increasing to 56% and both contribution profit (1) and adjusted EBITDA margins steadily improving • All portfolio brands delivered revenue growth; Group revenues increased in all channels and geographies • Flagship brand Lanvin had strong growth of 64% YoY and ...