Financial Data and Key Metrics Changes - The company's revenue in the first half was €133 million, down 22% year on year, reflecting softer market conditions and planned creative transitions [10] - Gross profit margin declined by 400 basis points to 54%, primarily due to sell-through of prior season inventory [11] - Adjusted EBITDA margin decreased to negative €52 million, impacted by lower revenue and operational leverage [15] Business Line Data and Key Metrics Changes - Lanvin's revenue declined by 42%, primarily due to weak wholesale demand in EMEA, but DTC revenue increased by 46% in the second quarter [20] - Wolfer's revenue was down 23%, with a 14% growth in the wholesale channel, while D2C decreased by 35% [22] - Sergio Rossi's revenue fell 25%, but retail sales were up 17% in Q2, indicating a rebound [24] - St. John maintained nearly flat revenue with a 4% growth in its core North American market [26] Market Data and Key Metrics Changes - All key regions saw revenue declines, with EMEA and Greater China facing the most significant headwinds [14] - D2C and wholesale channels were down, particularly in EMEA and Greater China [14] Company Strategy and Development Direction - The company is focused on long-term strategies, including strengthening brand leadership and streamlining operations [7][8] - There is an emphasis on protecting free cash flow through disciplined working capital management and rigorous cost control [8] - Targeted marketing initiatives are being deployed to boost traffic and conversion [9] Management's Comments on Operating Environment and Future Outlook - The management highlighted the challenges posed by global macroeconomic and geopolitical uncertainty but expressed confidence in the foundational work completed in H1 [3][4] - Encouraging signs of recovery were noted in the second quarter across several brands, with a focus on executing plans for the second half [30] Other Important Information - The company streamlined 29 underperforming stores in the first half, aiming for a more focused and productive retail footprint [17] - Significant strides were made in reducing G&A expenses across various brands, with reductions of 27% for Wolfer, 25% for Sergio Rossi, and 35% for St. John [15][16] Q&A Session Summary - There were no questions during the Q&A session, and the conference call concluded without any inquiries [31]

Financial Data and Key Metrics Changes - The company's revenue in the first half was €133 million, down 22% year on year, reflecting softer market conditions and planned creative transitions [9] - Gross profit margin declined by 400 basis points to 54%, primarily due to sell-through of prior season inventory [10] - Adjusted EBITDA margin decreased significantly, resulting in a negative €52 million, attributed to negative operational leverage [15] Business Line Data and Key Metrics Changes - Lanvin's revenue declined by 42%, primarily due to weak wholesale demand in EMEA, but retail remained resilient with a 46% increase in DTC revenue in Q2 [20] - Wolfer's revenue was down 23%, but wholesale grew by 14%, indicating a positive trend despite a 35% decrease in D2C [22] - Sergio Rossi's revenue fell 25%, but retail sales rebounded by 17% in Q2, indicating potential recovery [24] - St. John maintained nearly flat revenue with a 4% growth in its core North American market [27] Market Data and Key Metrics Changes - All key regions saw revenue declines, with EMEA and Greater China facing the most significant challenges [13] - D2C and wholesale channels were down, with major softness in wholesale for EMEA and cautious consumer sentiment in Greater China [13] Company Strategy and Development Direction - The company is focused on long-term growth through brand leadership strengthening, operational efficiency, and targeted marketing initiatives [8] - A comprehensive review of the retail network is ongoing, with 29 underperforming stores rightsized [8][18] - The company aims to protect free cash flow through disciplined working capital management and rigorous cost control [8] Management's Comments on Operating Environment and Future Outlook - The management acknowledged persistent global macroeconomic and geopolitical uncertainty but expressed confidence in recovery signs observed in Q2 [3][30] - The company is optimistic about the second half, driven by new creative talent and strategic repositioning efforts [12][30] Other Important Information - The company completed a capital increase for Wolford to support its strategic transformation [5] - Significant strides were made in reducing G&A expenses across various brands, with reductions of 27% for Wolfer, 25% for Sergio Rossi, and 35% for St. John [15][16] Q&A Session Summary - There were no questions during the Q&A session, and the conference call concluded without further inquiries [32]