Core Insights - David Chan, the executive president and CFO of Lanvin Group, is leaving the company to pursue new opportunities, marking a significant leadership change for the firm [1][2] - Lanvin Group has faced challenges, including a global luxury slowdown and difficulties in establishing itself against larger competitors, despite its strategic acquisitions and public listing [3][4] Financial Performance - The company reported a 22% decline in first-half revenues, totaling 133 million euros, attributed to weaker wholesale in Europe, cautious consumer sentiment in Greater China, and the overall luxury market slowdown [5] - Despite the revenue drop, Lanvin Group achieved a gross profit of 72 million euros with a margin of 54%, aided by disciplined inventory management and cost efficiencies [6] - The company incurred losses of 86.8 million euros during the same period, indicating ongoing financial struggles [6] Market Position - Following its SPAC merger in December 2022, Lanvin Group's stock has plummeted approximately 90%, trading at $2 and resulting in a market capitalization of $234 million [4] - The company is undergoing a significant transition with new leadership in its brands, including Peter Copping at Lanvin and Paul Andrew at Sergio Rossi, while preparing for Wolford's 75th anniversary [4]