Lanvin Group (NYSE:LANV) reported lower first-half 2026 revenue amid continued luxury-market pressure and a companywide effort to streamline its retail network and cost base, while profitability margins improved substantially.
Revenue for the six months ended June 2026 was EUR 101 million, down 13% from a year earlier. Chief Financial Officer Ross Luo said the decline reflected both market conditions and deliberate actions to reshape the company’s portfolio and distribution footprint, including the closure of underperforming stores.
Cost Reductions and Retail Rationalization
Luo said the margin improvement reflected efficiency programs, lower selling expenses and a more disciplined cost structure. The company continued to reduce expenses while maintaining selected investments in creativity, product development and customer engagement.
Since the first half of 2023, Lanvin Group said brand-level general and administrative expenses have been reduced by approximately 30% at Lanvin, 50% at Wolford, 45% at Sergio Rossi and 43% at St. John. Luo attributed the reductions to organizational simplification, tighter spending controls and a more focused operating model.
The group reduced its directly operated store count to 151 as of the end of June, from 174 at the end of 2025. Luo said the company plans to continue closing underperforming locations while selectively pursuing openings that meet strategic criteria.
“The objective is to create a more focused and productive retail platform with stronger economics and a better customer experience,” Luo said.
Lanvin Group also said e-commerce returned to growth during the first half. The company plans to emphasize productivity at its remaining stores through traffic generation, clienteling, merchandising and services.
Lanvin and Wolford Show Improving Underlying Trends
The Lanvin brand generated EUR 22.9 million in first-half revenue, down 17.9% year over year. However, boutique-store sales on a like-for-like basis remained positive despite store closures, Luo said. Wholesale revenue increased 16%, supported by earlier Fall/Winter deliveries.
Lanvin’s gross margin expanded by nearly 390 basis points to 58.2%, which Luo attributed to stronger sell-through and improved product lifecycle management. Its contribution loss narrowed to EUR 6.2 million from EUR 12.3 million.
Luo also cited creative momentum at the brand, saying its Fall/Winter 2026 Paris runway presentation was well received. Lanvin marked the 100th anniversary of its menswear business during the period.
Wolford reported EUR 31 million in revenue, down 6% year over year. Its direct-to-consumer business declined 2%, largely because of store-network optimization, while like-for-like retail sales remained positive. Wolford’s e-commerce revenue rose 22%.
Wholesale revenue at Wolford fell 12%, primarily due to timing-related comparisons with the prior year, though Luo said partner sell-through remained encouraging. Gross margin recovered to 60% from 56%.
During the second half, Wolford intends to strengthen wholesale operations, expand e-commerce and marketplace initiatives, and continue improving productivity and customer engagement. The brand also entered a new leadership phase with Marco Pozzo serving as chairman and CFO, Luo said.
St. John Digital Growth, Sergio Rossi Asset-Light Shift
St. John recorded EUR 35.5 million in revenue, down 10.5% year over year, reflecting retail-footprint rationalization and unfavorable currency movements. On a U.S. dollar basis, the revenue decline was approximately 5%, Luo said.
St. John’s e-commerce business grew 31% in its reporting currency, supported by digital customer acquisition, improved marketing return on investment and growth in its new customer base. The company said it is also developing new channels, including concession-based models.
The brand’s gross margin increased to 69%, while contribution margin improved to 12.3%. St. John plans to introduce two capsule collections in the second half and continue developing proprietary yarns intended to reinforce its product differentiation.
Sergio Rossi reported EUR 10.9 million in revenue, down 28.6% as the brand continued its transition toward a more focused, asset-light operating model. The company said wholesale revenue excluding third-party production increased 21% year over year.
Third-party production revenue declined EUR 1.9 million as the company phased out that activity. Sergio Rossi’s gross margin was temporarily pressured by channel mix changes, heavier clearance activity and its supply-chain transition, Luo said.
For the second half, Lanvin Group said it will continue its transformation, pursue growth across markets, channels and product categories, and use partnerships and collaborations to reach customers and generate additional revenue. The company also plans to maintain discipline around costs, working capital and cash while investing selectively in areas with the potential for stronger returns.
About Lanvin Group (NYSE:LANV)
Lanvin Group (NYSE:LANV) is a global luxury fashion company centered on the heritage French brand Lanvin. The group designs, manufactures and distributes a broad range of upscale apparel, leather goods, footwear, accessories and fragrances. Its product portfolio spans womenswear, menswear and unisex items, complemented by seasonal collections and signature handbag lines.
Founded in 1889 by Jeanne Lanvin in Paris, Lanvin holds the distinction of being one of the oldest continually operating French couture houses.
