Lanvin Group (NYSE: LANV) H1 sales drop as losses shrink
Rhea-AI Filing Summary
Lanvin Group Holdings Ltd (LANV) reported unaudited H1 2026 revenue of €101 million, down 12.9% year-on-year, mainly due to planned retail footprint rationalization and ongoing brand transformation. Brand revenues declined across Lanvin, Wolford, St. John and Sergio Rossi.
Despite lower sales, gross profit was €59 million with a 59.0% margin, up from 57.7% a year earlier, driven by stronger sell-through, better inventory and supply-chain efficiencies. Contribution profit improved by about €10 million to -€9 million, and Adjusted EBITDA loss narrowed by about €17 million to -€35 million, reflecting strong cost control.
The store network was reduced to 151 directly operated stores as part of retail optimization. Management highlights a leaner, more efficient platform entering H2 2026, with a focus on selective growth initiatives, licensing and partnerships, while maintaining disciplined cost, working capital and cash management.
Positive
- Adjusted EBITDA loss narrowed to €34.6 million in H1 2026 from €52.2 million a year earlier, a reduction in losses of about €17 million driven by cost discipline and operating efficiencies.
- Gross margin improved to 59.0% in H1 2026 from 57.7% in H1 2025, supported by stronger sell-through, better product lifecycle management and supply chain efficiencies.
- Contribution profit improved by about €10 million to -€8.9 million, mainly due to lower selling expenses following strategic rationalization of the retail network.
Negative
- Group revenue declined 12.9% year-on-year to €100.8 million in H1 2026, reflecting planned retail rationalization and brand transformation.
- All four core brands saw revenue declines in H1 2026, including Sergio Rossi down 28.6% and Lanvin down 17.9%, indicating continued top-line pressure during the transformation.
Filing Explained
On August 26, the filing makes H1 materials part of three registration statements and records Caruso’s sale as completed on February 6, 2026.
Form 6-K is a foreign private issuer’s interim report for material information published in its home market; here, Lanvin Group furnishes its August 26, 2026 first-half results and related presentation. The filing incorporates those exhibits by reference into three registration statements, so the materials become part of those registration statements’ disclosure record when furnished.
The company also reports that the Caruso sale was completed on
The filing defines Contribution Profit and Adjusted EBITDA as non-IFRS measures with specified exclusions, and says they should be considered alongside, rather than as substitutes for, IFRS measures.
Key Figures
Key Terms
Contribution Profit financial
Adjusted EBITDA financial
discontinued operation financial
directly operated stores market
retail footprint optimization financial
non-IFRS financial measures financial
Earnings Snapshot
Management highlights a leaner, more agile platform entering H2 2026, focusing on new revenue opportunities, licensing and partnerships, while maintaining disciplined cost, working capital and cash management.
FAQ
How did Lanvin Group (LANV) perform financially in H1 2026?
How did revenue by brand change for Lanvin Group (LANV) in H1 2026?
What happened to Lanvin Group (LANV)'s profitability metrics in H1 2026?
How is Lanvin Group (LANV) reshaping its retail footprint?
What outlook did Lanvin Group (LANV) give for the rest of 2026?
How did the Caruso carve-out affect Lanvin Group (LANV)'s reporting?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the Month of August 2026
Commission File Number: 001-41569
LANVIN GROUP HOLDINGS LIMITED
4F, 168 Jiujiang Road,
Carlowitz & Co, Huangpu District
Shanghai 200001, China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
| Form 20-F x | Form 40-F ¨ |
INCORPORATION BY REFERENCE
Exhibits 99.1 and 99.2 to this Form 6-K is incorporated by reference into the registration statement on Form F-3 (No. 333-276476), the post-effective amendment No. 5 to Form F-1 on Form F-3 (No. 333-269150) and the registration statement amendment No. 1 on Form F-3 (No. 333-280891) of Lanvin Group Holdings Limited and shall be a part thereof from the date on which this Report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.
2
EXHIBIT INDEX
| Exhibit Number |
Description | |
| 99.1 | Lanvin Group 2026 First Half Earnings Results Press Release | |
| 99.2 | Lanvin Group 2026 First Half Results Presentation |
3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| LANVIN GROUP HOLDINGS LIMITED | ||
| By: | /s/ Xi Luo | |
| Name: Xi Luo | ||
| Title: Chief Financial Officer | ||
Date: August 26, 2026
4
Exhibit 99.1
Lanvin Group Reports H1 2026 Revenue of €101 Million
Improving Momentum Positions the Group for Sustainable Growth
| · | Group revenue was €101 million in H1 2026, down 13% versus H1 2025, reflecting the Group's ongoing brand transformation and the strategic optimization of its retail footprint with store network reduced to 151 directly operated stores. Group e-commerce returned to growth. |
| · | Gross profit margin expanded to 59%, up 1.29 pp(1) year-on-year, as improved sell-through, more effective product lifecycle management and efficiency programs across major brands took effect. |
| · | Gross profitability improved markedly, with Contribution Profit and Adjusted EBITDA margins up 7.7 and 10.7 pp(1) respectively. |
| · | Brand highlights include like-for-like growth across boutiques and a well-received FW26 Paris runway at Lanvin, resilient trading and gross margin expansion to 60% at Wolford, early wholesale momentum building at Sergio Rossi, and continued strength at St. John with e-commerce up 31% in its reporting currency and a stable 70% gross margin. |
| · | Group-wide priorities in H2 2026 include advancing the reset and transformation agenda; unlocking new revenue opportunities across markets, channels and categories; accelerating strategic partnerships and collaborations; maintaining disciplined cost, working capital and cash management while selectively investing behind growth; and continuing to optimize the Group’s brand portfolio. |
August 26, 2026 - Lanvin Group (NYSE: LANV, the “Group”), a global luxury fashion group with Lanvin, Wolford, Sergio Rossi and St. John in its portfolio of brands, today announced its unaudited results for the first half of 2026. Against a still-transitional luxury market, the Group delivered a marked improvement in gross profitability, underpinned by strong cost discipline, operational efficiency and the continued execution of its strategic transformation.
Group revenue for H1 2026 was €101 million, down 13% year-on-year, primarily driven by the planned optimization of the retail footprint and the Group's ongoing brand transformation. Despite lower revenue, the Group delivered gross profit of €59 million at a margin of 59%, an improvement from prior-year period, supported by improved sell-through, disciplined inventory management and efficiency initiatives across major brands. Strong cost control delivered a substantial reduction in losses, as a result of the Group's efficiency improvement initiatives.
Zhen Huang, Chairman of Lanvin Group, said: “The first half represented an encouraging step forward for the Group. Supported by renewed creative and executive leadership across our houses, we are confident in our ability to progressively unlock the long-term potential of our brands amid market challenges.”
Andy Lew, Executive President of Lanvin Group, said: “We have reshaped how the Group operates—emerging leaner, more agile and materially more efficient. With that foundation in place, the second half is about further execution: activating our new creative and commercial leadership, sharpening our channel mix, and through its directly owned and licensing businesses, bringing a compelling pipeline of collections to market to reignite brand desirability and consumer engagement.”
Review of the First Half 2026 Results
| Lanvin Group Revenue by Brand | 2025(2) | 2026 | 2026H1 vs | |||||||||
| € in Thousands, unless otherwise noted | H1 | H1 | 2025H1 | |||||||||
| Lanvin | 27,932 | 22,924 | -17.9 | % | ||||||||
| Wolford | 32,985 | 31,017 | -6.0 | % | ||||||||
| St. John | 39,654 | 35,505 | -10.5 | % | ||||||||
| Sergio Rossi | 15,314 | 10,932 | -28.6 | % | ||||||||
| Total Brand | 115,885 | 100,378 | -13.4 | % | ||||||||
| Eliminations, other and holding companies | -117 | 418 | NM | |||||||||
| Total Group | 115,768 | 100,796 | -12.9 | % | ||||||||
| Lanvin Group Consolidated P&L | 2025(2) | 2026 | ||||||||||||||
| € in Thousands, unless otherwise noted | H1 | % | H1 | % | ||||||||||||
| Revenue | 115,768 | 100.0 | % | 100,796 | 100.0 | % | ||||||||||
| Gross profit | 66,823 | 57.7 | % | 59,486 | 59.0 | % | ||||||||||
| Contribution profit | -19,162 | -16.6 | % | -8,936 | -8.9 | % | ||||||||||
| Adjusted EBITDA | -52,179 | -45.1 | % | -34,622 | -34.3 | % | ||||||||||
Review of First Half 2026 Financials
Revenue
For H1 2026, the Group generated revenue of €101 million, a 12.9% decrease year-over-year. The decline primarily reflected the planned rationalization of the retail network and the Group's strategic brand transformation, partially offset by encouraging like-for-like retail performance. Within DTC, Group e-commerce returned to growth, driven by a strong recovery and sustained momentum at Wolford and St. John. Retail footprint optimization continued through H1, with the store network reduced to 151 directly operated stores as the Group continues to rationalize underperforming locations and strengthen the productivity of its retail network.
Gross Profit
Gross profit was €59 million, representing a margin of 59.0%, compared to 57.7% in H1 2025. The 1.29 pp(1) improvement was driven by stronger sell-through, more effective product lifecycle management and supply chain efficiencies at Lanvin, Wolford and St. John.
Contribution Profit
Contribution profit was -€9 million in the first half, a €10 million improvement from the prior-year period. The improvement was driven primarily by lower selling expenses following the strategic rationalization of the retail network, alongside broader cost discipline across the Group, offsetting the impact of lower revenue.
Adjusted EBITDA
Adjusted EBITDA improved to -€35 million in H1 2026, from -€52 million in the prior-year period, representing a €17 million reduction in losses, as a result of disciplined cost management and operating efficiencies. The Group continued to invest selectively in creative initiatives and product development.
2026 Full-Year Outlook
The Group enters H2 2026 on a leaner, more agile platform and a materially improved cost base. The focus includes: pursuing new revenue opportunities across markets, channels and categories, and exploring new licensing and partnership opportunities. The Group will maintain disciplined cost, working capital and cash management while investing selectively in high-return opportunities. Across the portfolio, Lanvin will deepen client engagement and asset-light partnerships, Wolford will accelerate wholesale and e-commerce, Sergio Rossi will build on the strong reception of its SS27 collection, and St. John will harness its new creative leadership and upcoming capsules.
Note (1): pp stands for percentage points, representing the arithmetic difference between two percentages.
(2) At the end of 2025, the Group approved the strategic carve-out of Caruso. In accordance with IFRS 5, Caruso is presented as a discontinued operation, with prior periods restated for comparability. The sale was completed on February 6, 2026.
Note: Unless otherwise stated, all percentage changes are calculated on an actual currency basis.
Note: Numbers may not sum precisely due to rounding.
Note: This communication includes certain non-IFRS financial measures such as Contribution Profit, Contribution Profit Margin, and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Please see Use of Non-IFRS Financial Metrics and Non-IFRS Financial Measures and Definition.
***
Semi-Annual Report
Our semi-annual report, including the interim condensed consolidated financial statements as of and for the six months ended June 30, 2026, can be downloaded from the Company’s investor relations website (ir.lanvin-group.com) under the section Financials / SEC Filings, or from the SEC’s website (www.sec.gov).
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Conference Call
As previously announced, today at 8:00AM EST/8:00PM CST/2:00PM CET, Lanvin Group will host a conference call to discuss its results for the first half of 2026 and provide an outlook for the remainder of the year. Management will refer to a slide presentation during the call, which will be made available on the day of the call. To view the presentation, please visit the "Events" tab of the Group's investor relations website at https://ir.lanvin-group.com.
All participants who would like to join the conference call must pre-register using the link provided below. Once the registration is complete, participants will receive dial-in numbers, a passcode, and a registrant ID which can be used to join the conference call. Participants may register at any time, including up to and after the call starts.
Registration Link:
https://dpregister.com/sreg/10211387/104b342f75c
A replay of the conference call will be accessible approximately one hour after the live call until September 1, 2026, by dialing the following numbers:
USA/Canada Toll-Free: 1-855-669-9658
International Toll: 1-412-317-0088
Replay Access Code: 1329150
A recorded webcast of the conference call and a slide presentation will also be available on the Group's investor relations website at https://ir.lanvin-group.com.
***
About Lanvin Group
Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China and Milan, Italy, managing iconic brands worldwide including Lanvin, Wolford, Sergio Rossi and St. John. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. The shares of Lanvin Group are listed on the New York Stock Exchange under the ticker symbol 'LANV'. For more information about Lanvin Group, please visit www.lanvin-group.com, and to view our investor presentation, please visit https://ir.lanvin-group.com.
***
Forward-Looking Statements
This communication, including the section “2026 Full-Year Outlook”, contains “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,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lavin Group’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and must not be relied on by an investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lanvin Group. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes adversely affecting the business in which Lanvin Group is engaged; Lanvin Group’s projected financial information, anticipated growth rate, profitability and market opportunity may not be an indication of its actual results or future results; management of growth; the impact of public health crises on Lanvin Group’s business; Lanvin Group’s ability to safeguard the value, recognition and reputation of its brands and to identify and respond to new and changing customer preferences; the ability and desire of consumers to shop; Lanvin Group’s ability to successfully implement its business strategies and plans; Lanvin Group’s ability to effectively manage its advertising and marketing expenses and achieve desired impact; its ability to accurately forecast consumer demand; high levels of competition in the personal luxury products market; disruptions to Lanvin Group’s distribution facilities or its distribution partners; Lanvin Group’s ability to negotiate, maintain or renew its license agreements; Lanvin Group’s ability to protect its intellectual property rights; Lanvin Group’s ability to attract and retain qualified employees and preserve craftsmanship skills; Lanvin Group’s ability to develop and maintain effective internal controls; general economic conditions; the result of future financing efforts; and those factors discussed in the reports filed by Lanvin Group from time to time with the SEC. If any of these risks materialize or Lanvin Group’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lanvin Group presently does not know, or that Lanvin Group currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lanvin Group’s expectations, plans, or forecasts of future events and views as of the date of this communication. Lanvin Group anticipates that subsequent events and developments will cause Lanvin Group’s assessments to change. However, while Lanvin Group may elect to update these forward-looking statements at some point in the future, Lanvin Group specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lanvin Group’s assessments of any date subsequent to the date of this communication. Accordingly, reliance should not be placed upon the forward-looking statements.
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Use of Non-IFRS Financial Metrics
This communication includes certain non-IFRS financial measures such as Contribution Profit, Contribution Profit Margin, Adjusted Operating Profit, adjusted earnings before interest and taxes (“Adjusted EBIT”), and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). These non-IFRS measures are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with IFRS and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with IFRS. Reconciliations of non-IFRS measures to their most directly comparable IFRS counterparts are included in the Appendix to this communication. Lanvin Group believes that these non-IFRS measures of financial results provide useful supplemental information to investors about Lanvin Group. Lanvin Group believes that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating projected operating results and trends and in comparing Lanvin Group's financial measures with other similar companies, many of which present similar non-IFRS financial measures to investors. However, there are a number of limitations related to the use of these non-IFRS measures and their nearest IFRS equivalents. For example, other companies may calculate non-IFRS measures differently, or may use other measures to calculate their financial performance, and therefore Lanvin Group's non-IFRS measures may not be directly comparable to similarly titled measures of other companies. Lanvin Group does not consider these non-IFRS measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-IFRS financial measures is that they exclude significant expenses, income and tax liabilities that are required by IFRS to be recorded in Lanvin Group's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgements by Lanvin Group about which expense and income are excluded or included in determining these non-IFRS financial measures. In order to compensate for these limitations, Lanvin Group presents non-IFRS financial measures in connection with IFRS results.
Non-IFRS Financial Measures and Definitions
Our management monitors and evaluates operating and financial performance using several non-IFRS financial measures including: Contribution Profit, Contribution Profit Margin, Adjusted Operating Profit, Adjusted EBIT and Adjusted EBITDA. Our management believes that these non-IFRS financial measures provide useful and relevant information regarding our performance and improve their ability to assess financial performance and financial position. They also provide comparable measures that facilitate management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions. While similar measures are widely used in the industry in which we operate, the financial measures that we use may not be comparable to other similarly named measures used by other companies nor are they intended to be substitutes for measures of financial performance or financial position as prepared in accordance with IFRS.
Contribution Profit is defined as revenue less the cost of sales and selling and marketing expenses. Contribution Profit subtracts the main variable expenses of selling and marketing expenses from Gross Profit, and our management believes this measure is an important indicator of profitability at the marginal level. Below contribution profit, the main expenses are general administrative expenses and other operating expenses (which include foreign exchange gains or losses and impairment losses). As we continue to improve the management of our portfolio brands, we believe we can achieve greater economy of scale across the different brands by maintaining the fixed expenses at a lower level as a proportion of revenue. We therefore use Contribution Profit Margin as a key indicator of profitability at the group level as well as the portfolio brand level.
Contribution Profit Margin is defined as Contribution Profit divided by revenue.
Adjusted EBITDA is defined as profit or loss before income taxes, net finance cost, exchange gains/(losses), depreciation, amortization, share based compensation and provisions and impairment losses adjusted for income and costs which are significant in nature and that management considers not reflective of underlying operational activities, mainly including net gains on disposal of long-term assets, gain on debt restructuring and government grants.
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Enquiries:
Media & Investors
Lanvin Group
Ross Luo
ross.luo@lanvin-group.com
Coco Wang
coco.wang@lanvin-group.com
Exhibit 99.2
| LANVIN GROUP 2026 FIRST HALF RESULTS August 26, 2026 |
| 2 Forward-Looking Statements This presentation, including the section “2026 Full-Year Outlook”, contains “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,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lanvin Group’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and must not be relied on by an investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lanvin Group. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes adversely affecting the business in which Lanvin Group is engaged; Lanvin Group’s projected financial information, anticipated growth rate, profitability and market opportunity may not be an indication of its actual results or future results; management of growth; the impact of public health crises on Lanvin Group’s business; Lanvin Group’s ability to safeguard the value, recognition and reputation of its brands and to identify and respond to new and changing customer preferences; the ability and desire of consumers to shop; Lanvin Group’s ability to successfully implement its business strategies and plans; Lanvin Group’s ability to effectively manage its advertising and marketing expenses and achieve desired impact; its ability to accurately forecast consumer demand; high levels of competition in the personal luxury products market; disruptions to Lanvin Group’s distribution facilities or its distribution partners; Lanvin Group’s ability to negotiate, maintain or renew its license agreements; Lanvin Group’s ability to protect its intellectual property rights; Lanvin Group’s ability to attract and retain qualified employees and preserve craftsmanship skills; Lanvin Group’s ability to develop and maintain effective internal controls; general economic conditions; the result of future financing efforts; and those factors discussed in the reports filed by Lanvin Group from time to time with the SEC. If any of these risks materialize or Lanvin Group’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lanvin Group presently does not know, or that Lanvin Group currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lanvin Group’s expectations, plans, or forecasts of future events and views as of the date of this communication. Lanvin Group anticipates that subsequent events and developments will cause Lanvin Group’s assessments to change. However, while Lanvin Group may elect to update these forward-looking statements at some point in the future, Lanvin Group specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lanvin Group’s assessments of any date subsequent to the date of this communication. Accordingly, reliance should not be placed upon the forward-looking statements. Use of Non-IFRS Financial Metrics This presentation includes certain non-IFRS financial measures (including on a forward-looking basis) such as Contribution Profit, Contribution Profit Margin, and adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). These non-IFRS measures are an addition, and not a substitute for or superior to measures of financial performance prepared in accordance with IFRS and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with IFRS. Reconciliations of non-IFRS measures to their most directly comparable IFRS counterparts are included in the Appendix to this presentation. Lanvin Group believes that these non- IFRS measures of financial results (including on a forward-looking basis) provide useful supplemental information to investors about Lanvin Group. Lanvin Group's management uses forward-looking non-IFRS measures to evaluate Lanvin Group's projected financial and operating performance. Lanvin Group believes that the use of these non-IFRS financial measures provides an additional tool for investors to use in evaluating projected operating results and trends and in comparing Lanvin Group's financial measures with other similar companies, many of which present similar non-IFRS financial measures to investors. However, there are a number of limitations related to the use of these non-IFRS measures and their nearest IFRS equivalents. For example, other companies may calculate non-IFRS measures differently, or may use other measures to calculate their financial performance, and therefore Lanvin Group's non-IFRS measures may not be directly comparable to similarly titled measures of other companies. Lanvin Group does not consider these non-IFRS measures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of these non-IFRS financial measures is that they exclude significant expenses, income and tax liabilities that are required by IFRS to be recorded in Lanvin Group's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgements by Lanvin Group about which expense and income are excluded or included in determining these non-IFRS financial measures. In order to compensate for these limitations, Lanvin Group presents non-IFRS financial measures in connection with IFRS results. DISCLAIMER |
| BUILDING THE NEW LUXURY |
| 01 Significant improvement in gross profitability, with Contribution Profit margin and Adjusted EBITDA margin improved by 7.7 and 10.7 percentage points, respectively 02 Revenue down YoY by 13% amid ongoing brand transformation, e-commerce channel returned to growth 03 Achieving 20% improvement in marketing and selling cost efficiency and 28% G&A savings, without compromising growth investments 04 Continued progress on retail footprint optimization and strategic transformation, positioning the Group for sustainable growth 2026 H1 STORY |
| 5 H1 BRAND HIGHLIGHTS FIRST HALF ACHIEVEMENTS • Earned strong editorial response at FW26 Paris runway, reaffirming creative momentum under its design direction • Commemorated the 100th anniversary of Lanvin Menswear, collaborated with British Knitwear maker John Smedley • Strengthened leadership for next growth phase, appointing Barbara Werschine as CEO to lead global strategy • Enhanced supply chain capabilities with advanced ESG agenda • Achieved major gross margin restoration and meaningful Adjusted EBITDA improvement • Entered a new leadership chapter with Marco Pozzo appointed CEO & Chairman • Turned digital into a growth engine: e-commerce +31% vs. LY • Accelerated North America expansion, including plans to extend the successful Nordstrom concession model • Appointed Mandy West as CEO to accelerate the brand’s next phase of growth • Advanced the transition toward an asset-light business model • Optimized channel mix and strengthened working capital management • Streamlined vendor base, strengthened strategic supplier partnerships and rationalized the retail network • Completed full brand and product reset back to its original DNA |
| 6 2026 H2 ACTION PLAN 01 Advance the reset agenda of building a leaner and more agile platform for sustainable growth 02 Identify new revenue opportunities across markets, channels and product categories to diversify and accelerate growth 03 Leverage strategic partnerships and collaborations to unlock incremental reach, brand exposure and new customer opportunities 04 Maintain disciplined cost, working capital and cash management with a continued focus on the path to break-even 05 Continue to review and streamline the Group’s brand portfolio 6 DRIVE COST-EFFICIENCY INITIATIVES |
| 7 Note: Prior periods have been restated to exclude Caruso (discontinued operations) for comparability. (1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 17 for Non-IFRS Financial Measures and Definitions. (2) pp stands for percentage points, representing the arithmetic difference between two percentages. LANVIN GROUP’ S NUMBERS AT A GLANCE H1 26 Global Revenue €101 mm H1 26 E-commerce Revenue Growth +5% H1 26 Global Revenue Growth - 13% H1 26 vs. H1 25 CP Margin(1) Improves 7.7pp(2) June 26 Directly Operated Stores 151 H1 26 vs. H1 25 Adj. EBITDA %(1) Improves 10.7pp(2) |
| 8 REVENUE BRIDGE BY BRAND STRATEGIC RETAIL FOOTPRINT OPTIMIZATION PROGRESSING Note: Prior periods have been restated to exclude Caruso (discontinued operations) for comparability. Numbers may not sum precisely due to rounding. * Eliminations includes eliminations, other and holding companies. Revenue Bridge by Brand H1 2021 -H1 2026 (€ in mm) H1 2021 H1 2022 H1 2023 H1 2024 H1 2025 Eliminations* H1 2026 |
| 9 € 106 € 110 € 105 € 86 € 68 € 72 € 72 € 54 € 53 € 38 0 20 40 60 80 100 120 140 160 180 200 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 OPEX % Incidence on Revenue H1 2022 -H1 2026 G&A expenses(€ in mm) Marketing and selling expenses(€ in mm) € 178 € 182 € 158 € 139 € 107 OPEX IMPROVEMENT CONTINUES Note: Prior periods have been restated to exclude Caruso (discontinued operations) for comparability. Numbers may not sum precisely due to rounding. % of Revenue 95% 93% 104% 120% 106% |
| 10 € 20 € 16 € 11 € 14 € 14 € 14 € 10 € 11 € 17 € 12 € 8 € 9 € 14 € 8 € 6 € 8 0 5 10 15 20 25 1 2 3 4 Brand-level G&A Expenses H1 2023 -H1 2026 H1 2023 (€ in mm) H1 2024 (€ in mm) H1 2025 (€ in mm) H1 2026 (€ in mm) G&A EXPENSES REDUCTION Note: Brand-level results are presented exclusive of eliminations. -30% -50% -45% -43% Improvement Since H1 2023 |
| 11 ADVANCING RETAIL OPTIMIZATION Note: DOS as of 31st December 2025 and 30th June 2026 and refers to Directly Operated Stores which include shop-in-shop, retail, outlet & pop-up stores. BUILDING A MORE FOCUSED AND PRODUCTIVE RETAIL NETWORK Lanvin Group DOS Evolution by Brand Lanvin Group DOS Evolution by Region FY 2025 Total Closures H1 2026 New Openings |
| BRAND - LEVEL PERFORMANCE |
| 13 LANVIN (1) Non-IFRS Financial Measure. Please see Page 17 for Non-IFRS Financial Measures and Definitions. Note: Brand-level results are presented exclusive of eliminations. H1 Results • Revenue decreased by 17.9% to €22.9 million, reflecting the planned global retail network optimization – LFL sales growth across boutiques despite the impact of store closures across regions – Wholesale revenue grew by €1.1 million, or 16.4%, supported by earlier Fall/Winter collection deliveries • Gross margin expanded by 389 bps to 58.2%, driven by improved sell-through performance and more effective product lifecycle management • €10.6 million of OPEX savings substantially mitigated the impact of lower revenue, reinforcing the brand's focus on cost efficiency and operational discipline Lanvin Key Financials (€ in Thousands) H1 25 H1 26 Revenue €27,932 €22,924 YoY% -42.1% -17.9% Gross Profit €15,182 €13,352 GP Margin% 54.4% 58.2% Contribution Profit (1) -€12,322 -€6,248 CP Margin% -44.1% -27.3% H2 initiatives • Drive store traffic, client engagement and conversion through refreshed visual merchandising, local events and focused clienteling • Expand selective partnerships and asset-light models to broaden reach and unlock new revenue streams • Maintain OPEX discipline while protecting strategic brand investments • Further improve sell-through, inventory efficiency and product lifecycle to support gross margin and cash generation |
| 14 Wolford Key Financials (€ in Thousands) H1 25 H1 26 Revenue €32,985 €31,017 YoY% -22.6% -6.0% Gross Profit €18,504 €18,585 GP Margin% 56.1% 59.9% Contribution Profit (1) -€9,495 -€4,931 CP Margin% -28.8% -15.9% WOLFORD 14 (1) Non-IFRS Financial Measure. Please see Page 17 for Non-IFRS Financial Measures and Definitions. Note: Brand-level results are presented exclusive of eliminations. H1 Results • Revenue held broadly stable (-6% YoY), with trading momentum building through H1 as operating platform stabilized − DTC declined 2%, primarily reflecting ongoing store network optimization, while LFL retail remained positive and e-commerce grew 22% − Wholesale declined 12%, reflecting timing-related comparables from the prior-year H1; partners continued to report encouraging sell-through • Gross margin recovered from 56% to 60%, supported by enhanced operational execution and a more disciplined commercial approach • Delivered substantial improvement in earnings, supported by cost discipline, operating efficiencies and a leaner cost structure H2 initiatives • Continue to build on stabilized platform, strengthening commercial execution, productivity, customer engagement and service levels • Accelerate wholesale through enhanced collections, broader categories and stronger execution with key partners • Scale e-commerce and marketplace initiatives to improve localization, scalability and international reach • Maintain disciplined cost control while preserving selective investments in service, quality, innovation and brand equity |
| 15 St. John Key Financials (€ in Thousands) H1 25 H1 26 Revenue €39,654 €35,505 YoY% -0.8% -10.5% Gross Profit €27,251 €24,712 GP Margin% 68.7% 69.6% Contribution Profit (1) €4,470 €4,359 CP Margin% 11.3% 12.3% ST. JOHN 15 (1) Non-IFRS Financial Measure. Please see Page 17 for Non-IFRS Financial Measures and Definitions. Note: Brand-level results are presented exclusive of eliminations. H1 Results • Revenue down 10% YoY, reflecting retail footprint rationalization and unfavorable USD/EUR exchange rate dynamics − E-commerce revenue grew 31% in its reporting currency, fueled by more effective digital acquisition, higher marketing ROI and an expanding new client base − New channel initiatives, anchored by concession-based formats, are establishing a diversified growth pipeline • Gross Margin improved to 69.6%, driven by stronger pricing power across channels and supply chain efficiency • Contribution Profit Margin strengthened to 12.3%, attributable to disciplined expense management H2 initiatives • Following the appointment of the new Creative Director, the brand is poised to strengthen its positioning and drive the next wave of growth and creative innovation • Two new capsule collections are set to fuel H2 sales momentum • Identify and prioritize proprietary yarns unique to St. John, reinforcing the brand's distinctive craftsmanship and competitive edge |
| 16 Sergio Rossi Key Financials (€ in Thousands) H1 25 H1 26 Revenue €15,314 €10,932 YoY% -24.9% -28.6% Gross Profit €6,255 €3,051 GP Margin% 40.8% 27.9% Contribution Profit (1) -€1,500 -€1,621 CP Margin% -9.8% -14.8% SERGIO ROSSI 16 (1) Non-IFRS Financial Measure. Please see Page 17 for Non-IFRS Financial Measures and Definitions. Note: Brand-level results are presented exclusive of eliminations. H2 initiatives • Capitalize on SS27's strong reception to drive wholesale and sell-through, underpinned by disciplined account management and on-time delivery • Rebuild margin through supply chain streamlining, strategic supplier negotiations and rigorous procurement cost management • Accelerate digital and brand activation through AI-enabled content, social media, CRM and selective events to build community and traffic • Sustain essential investments in sales conversion and brand awareness H1 Results • Revenue down 29% YoY, reflecting continued rollout of planned channel strategy − DTC declined by 27%, driven by the strategic closure of unprofitable stores − Wholesale (excluding third-party production) grew by 21%, confirming renewed partner appetite and a stronger base for conversion for H2 − Third-party production revenue decreased by €1.9 million, reflecting the planned phase-out • Gross Margin underperformed, reflecting a temporary shift in channel mix driven by heavier clearance activity in H1 and ongoing supply chain transition • Prudent selling expense management helped mitigate the impact on contribution profit, despite the decline in Gross Profit |
| 17 Our management monitors and evaluates operating and financial performance using several non-IFRS financial measures including: Contribution Profit, Contribution Profit Margin and Adjusted EBITDA. Our management believes that these non-IFRS financial measures provide useful and relevant information regarding our performance and improve their ability to assess financial performance and financial position. They also provide comparable measures that facilitate management’s ability to identify operational trends, as well as make decisions regarding future spending, resource allocations and other operational decisions. While similar measures are widely used in the industry in which we operate, the financial measures that we use may not be comparable to other similarly named measures used by other companies nor are they intended to be substitutes for measures of financial performance or financial position as prepared in accordance with IFRS. Contribution Profit is defined as revenue less the cost of sales and selling and marketing expenses. Contribution Profit subtracts the main variable expenses of selling and marketing expenses from Gross Profit, and our management believes this measure is an important indicator of profitability at the marginal level. Below Contribution Profit, the main expenses are general administrative expenses and other operating expenses (which include foreign exchange gains or losses and impairment losses). As we continue to improve the management of our portfolio brands, we believe we can achieve greater economy of scale across the different brands by maintaining the fixed expenses at a lower level as a proportion of revenue. We therefore use Contribution Profit Margin as a key indicator of profitability at the group level as well as the portfolio brand level. Contribution Profit Margin is defined as Contribution Profit divided by revenue. Adjusted EBITDA is defined as profit or loss before income taxes, net finance cost, exchange gains/(losses), depreciation, amortization, share based compensation and provisions and impairment losses adjusted for income and costs which are significant in nature and that management considers not reflective of underlying operational activities, mainly including net gains on disposal of long-term assets, negative goodwill from acquisition of Sergio Rossi, gain on debt restructuring and government grants. NON-IFRS FINANCIAL MEASURES AND DEFINITIONS |
