Lanvin Group(LANV) - 2024 Q4 - Earnings Call Transcript

Financial Data and Key Metrics Changes - The company's preliminary revenue for 2024 was €328,000,000, a decrease of 23% compared to 2023, reflecting broader industry trends and macroeconomic challenges [3][4] - Wholesale revenue across the company fell significantly, with declines noted in various brands [10][12] Business Line Data and Key Metrics Changes - Lanvin, the flagship brand, experienced a revenue decline of 26%, from €112,000,000 in 2023 to €83,000,000 in 2024, driven by a global slowdown in luxury demand [10] - Warfar's revenue declined by 31%, with the EMEA region most affected, showing a 36% decline [12] - Sergio Rossi's revenue decreased by 30%, with the EMEA market experiencing a 35% decline [13] - St. John's revenue declined by 12%, with North America showing some resilience with a 3% growth in domestic wholesale [14] Market Data and Key Metrics Changes - Greater China saw a significant decline of 40% in revenue, while North America experienced a 19% decline [11] - The EMEA D2C market remained more resilient despite challenges in wholesale channels [11] Company Strategy and Development Direction - The company is focusing on consolidating its store network, optimizing retail footprint, and enhancing operational efficiency [4][19] - Establishing a second headquarters in Europe is part of the strategy to streamline operations and improve decision-making agility [7][19] - New leadership appointments are expected to drive strategic implementation and transformative initiatives across brands [4][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macroeconomic environment but remains optimistic about future prospects and growth opportunities [3][4] - The company is committed to innovation and growth in the luxury fashion industry, despite current challenges [18][21] Other Important Information - The company is investing in new product launches and creative leadership to drive future growth, with a focus on enhancing the wholesale business and exploring high-growth regions [7][14][18] - The appointment of new artistic and creative directors is expected to bring a fresh vision and energy to the brands [20][21] Q&A Session Summary - There were no questions during the Q&A session, concluding the conference call [22]