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Lanvin Group Resiliency was Key in 2023, Preliminary Revenues Up 1% Year-on-Year

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Revenue of €426 million for FY2023, a 1% increase over FY 2022Despite challenging conditions, Lanvin Group grew revenue by 8% in APACResiliency through creative transition at Lanvin brand helped improve sales trend in the second half of 2023Positive signals in the DTC channel, including e-Commerce are proving the effectiveness of the Group’s strategyOngoing implementation of strategic plans in 2023 to drive further revenue growth and margin improvement

NEW YORK, Feb. 21, 2024 /PRNewswire/ — Lanvin Group (NYSE: LANV, the “Group”), a global luxury fashion group with Lanvin, Wolford, St. John, Sergio Rossi, and Caruso in its portfolio of brands, today announced its preliminary, unaudited revenues for the full-year 2023. The Group achieved revenues of €426 million, a 1% increase year-over-year versus 2022. 

Eric Chan, CEO of Lanvin Group, said: “2023 was a year full of macroeconomic headwinds and global challenges. Lanvin Group showed tremendous resilience and continued on its growth trajectory. 2023 was also a year that our group and our brands proved their ability to manage through adverse market conditions and execute their strategy. A softening second half saw the luxury fashion industry in a position it has not been in, in quite some time. Therefore, I am pleased to report that Lanvin Group maintained growth for the year; and I am confident in our management’s ability to continue to build upon the foundation we have built on our path to profitability.”

 

Review of the Full-Year 2023 Preliminary, Unaudited Revenues

Lanvin Group Revenue by Brand

(Euros in Thousands)

2023A

2022A

Growth %

Preliminary

Audited

2023A vs. 2022A

Lanvin

111,740

119,847

-7 %

Wolford

126,905

125,514

+1 %

St. John

90,394

85,884

+5 %

Sergio Rossi

59,518

61,929

-4 %

Caruso

40,011

30,819

+30 %

Total Brands

428,568

423,993

+1 %

Eliminations & Others

-2,155

-1,681

Total Group

426,413

422,312

+1 %

 

Selected Highlights

The Group drove results through a softening market in the second half: Lanvin Group maintained growth through a transitional year with 1% year-on-year growth. The Group continued improving its retail network and expanding its e-commerce footprint. Successful product launches and marketing campaigns generated brand heat allowing for resiliency in revenues during a challenging market.

Store network rationalization: The Group continued to rationalize its store footprint and had an overall reduction in its store-base by a total of 12 stores. Despite the smaller store base, Group DTC sales remained flat on a like-for-like basis. St. John and Sergio Rossi posted strong store like-for-like growth with 13% and 6%, respectively.

Lanvin brand showed improving result in the second half: Lanvin brand performed better in the second half of the year in spite of the increasingly softening market. The brand successfully managed through a year of creative transition, but was impacted by a softer wholesale market. The establishments of the Leather Goods and Accessories department and Lanvin Lab, with the first Lanvin Lab capsule successfully launched with the Grammy-winning artist, Future in Q4, started to make positive impacts in the second half and will continue to do so in 2024. While first half revenue decreased by 11%, the brand ended the year down 7%.

Stability in North America and EMEA, and growth in APAC despite economic challenges: Management successfully navigated an increasingly challenging market to maintain revenue growth for 2023. North America grew slightly while EMEA decreased slightly. In Asia, despite a slow start to the year in China in the first half, Greater China posted 8% growth and overall, the APAC region grew by 8%.

Continuing transition to core products and accessories: The Group continued its focus on refining products and categories to provide stability and resiliency to revenue and profitability. With a refocused strategy on their brand and product offerings, St. John grew its DTC channel by 7%, in 2023. Additionally, Caruso achieved 30% growth in global revenue by continuing to drive its playful elegance approach and expanding its production capacity and its specialized workforce.

e-Commerce revenue continued its growth trend: Digital revenue continued to grow with the Group-level posting a 3% year-on-year growth in e-Commerce. Notably, St. John showed 14% growth in e-Commerce revenue and Sergio Rossi showed 5% growth. Lanvin and Wolford remained flat for the year.

 

2024 Outlook

The Group anticipates that while continued softness in the overall global market will impact the business, regional economies will fare better and present opportunities for growth. Furthermore, the APAC region shows opportunities for market share gains. The Group plans to pursue tactical growth opportunities in 2024.

At both Group and brand-level, ongoing initiatives will continue to drive improved margin profile. Planned marketing initiatives and product launches are expected to drive sales in 2024 which will lead to improving scale as the Group capitalizes on the operating leverage it built in 2023.

 

Conference Call

As previously announced, today at 8:00AM EST/9:00PM CST/2:00PM CET, Lanvin Group will host a conference call to discuss its preliminary revenues for the full-year 2023 and provide an outlook for 2024. To participant in the conference call, please dial the following numbers:

United States Toll Free: 1-888-346-8982
International: 1-412-902-4272
Mainland China Toll Free: 4001-201203
Hong Kong Toll Free: 800-905945
Hong Kong-Local Toll: 852-301-84992
Singapore Toll Free: 800-120-6157

A replay of the conference call will be accessible approximately one hour after the live call until February 28, 2024, by dialing the following numbers:

US Toll Free: 1-877-344-7529
International Toll: 1-412-317-0088
Canada Toll Free: 855-669-9658
Replay Access Code: 9156719

A live and 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/Events.

 

Next Scheduled Announcement

The next scheduled announcement will be the full-year 2023 earnings release in April 2024. To receive email alerts of the timing of future financial news releases, as well as future announcements, please register at https://ir.lanvin-group.com.

———————————-
Note: All % changes are calculated on an actual currency exchange rate basis

Appendix

Lanvin Group Revenue by Brand

(Euros in Thousands)

2023A

2022A

Growth %

Preliminary

Audited

2023A vs. 2022A

Lanvin

111,740

119,847

-7 %

Wolford

126,905

125,514

+1 %

St. John

90,394

85,884

+5 %

Sergio Rossi

59,518

61,929

-4 %

Caruso

40,011

30,819

+30 %

Total Brands

428,568

423,993

+1 %

Eliminations & Others

-2,155

-1,681

Total Group

426,413

422,312

+1 %

Lanvin Group Revenue by Geography:

(Euros in Thousands)

2023A

2022A

Growth %

Preliminary

Audited

2023A vs. 2022A

EMEA

202,220

205,715

-2 %

North America

147,484

145,519

+1 %

Greater China

52,823

48,876

+8 %

Other

23,886

22,202

+8 %

Total

426,413

422,312

+1 %

Lanvin Group Revenue by Channel:

(Euros in Thousands)

2023A

2022A

Growth %

Preliminary

Audited

2023A vs. 2022A

DTC/eCommerce

246,713

247,460

0 %

Wholesale

162,127

164,359

-1 %

Other

17,573

10,493

+68 %

Total

426,413

422,312

+1 %

 

About Lanvin Group

Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China, managing iconic brands worldwide including Lanvin, Wolford, Sergio Rossi, St. John Knits, and Caruso. 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 intimate understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. Lanvin Group is listed on the New York Stock Exchange under the ticker symbol ‘LANV’.

For more information about Lanvin Group, please visit http://www.lanvin-group.com, and to view our investor presentation, please visit https://ir.lanvin-group.com.

Disclaimer

The full-year 2023 revenues are preliminary and unaudited. The audit of the Group’s financial statements will be finalized at the time of the Group’s 2023 consolidated financial statements. These unaudited financial data are not a comprehensive statement of the Group’s financial results for the year ended December 31, 2023 and should not be viewed as a substitute for the Group’s full annual financial statements prepared in accordance with IFRS. These preliminary unaudited financial results are subject to revision in connection with the Group’s financial closing procedures, including the review of such financial results by the Group’s audit committee, and finalization and audit of the Group’s consolidated financial statements for the year ended December 31, 2023. During the preparation of the Group’s consolidated financial statements and related notes and the completion of the audit for the year ended December 31, 2023, additional adjustments to the preliminary estimated financial results presented above may be identified. Actual results for the period reported may differ from these preliminary results.

Forward-Looking Statements

This communication, including the section “2024 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 the respective management of Lanvin Group 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, Lanvin Group’s ability to timely complete its financial closing procedures and finalize its consolidated financial statements for fiscal year 2023; 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 health epidemics, pandemics and similar outbreaks, including the COVID-19 pandemic 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 craftmanship 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 disclaim 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.

Enquiries:

Investors
Lanvin Group
James Kim
James.Kim@lanvin-group.com

Media
Lanvin Group
Miya He
miya.he@lanvin-group.com 

 

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SOURCE Lanvin Group

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Marquis Who’s Who Honors Rupin Chothani for Engineering Leadership

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UNIONDALE, N.Y., July 23, 2026 /PRNewswire/ — Marquis Who’s Who honors Rupin Chothani for his leadership in engineering and project management. With more than two decades of professional experience to his credit, Mr. Chothani leverages a unique expertise in fire and petrochemical solutions to find success in his field. As project manager, project engineer and proposal manager at Technip Energies N.V., Mr. Chothani ensures effective results.

Drawn to Engineering

Coming from a family of engineers, Mr. Chothani was naturally drawn to the profession. This inclination was reinforced by comprehensive aptitude and attitude tests administered at the age of 14, which highlighted his strengths in engineering and architecture. Ultimately, this direction reinforced his determination to pursue a degree in mechanical engineering.

By 2003, Mr. Chothani earned a Bachelor of Science in Mechanical Engineering at the University of Mumbai. After a brief role as a junior manufacturing engineer at Artech Cooling Tower Pvt. Ltd., he completed a Master of Science in Mechanical Engineering at the University of Bridgeport in 2006. In addition to these degrees, Mr. Chothani later achieved AutoCAD certification.

Following his graduation in 2006, Mr. Chothani joined CB&I Lummus / ABB Lummus Heat Transfer (now Lummus Technology) as a thermal engineer. Though his work at Lummus Technology lasted only three years, Mr. Chothani was greatly influenced by mentor figures at the company. These mentors, including Ken Catala, Peter Harvard, Chin Dang and Miller Alanath Carter, provided essential guidance.

Building a Family

In December 2008, Mr. Chothani married his wife, Cathy. Along with his son and daughter, his family has contributed richly to his success in engineering and they continue to inspire him to excel. In addition to their support, Mr. Chothani recognizes that there is no alternative to hard work and dedicated learning.

From Lummus Technology to Technip Energies N.V.

Following his work at Lummus Technology, Mr. Chothani worked with Maco Corporation India Pvt. Ltd. By 2011, he joined Complete Heat Transfer Solutions – Environ Energy Systems as a thermal and mechanical engineer. By 2013, Mr. Chothani became a part of Technip Energies N.V. as a furnace mechanical engineer. By 2023, he added to this role and became a project manager, project engineer and proposal manager at the company.

In his current role at Technip Energies N.V., Mr. Chothani is responsible for a variety of essential duties. He manages and executes on engineering projects for ethylene cracking furnaces and heaters, and oversees proprietary technologies. Additionally, he actively coordinates with procurement, logistics, mechanical engineering and process engineering teams to ensure effective results.

Plans for the Future

Moving forward, Mr. Chothani hopes to advance his project management skills, particularly within the firejet industry. At the same time, he aims to share his knowledge of the industry with the next generation of professionals. Outside of his professional ambitions, Mr. Chothani intends to prepare his children to find success, inspiring them and their peers with hands-on experiments and full-day events.

About Marquis Who’s Who®:

Since 1899, when A. N. Marquis printed the First Edition of Who’s Who in America®, Marquis Who’s Who® has chronicled the lives of the most accomplished individuals and innovators from every significant field, including politics, business, medicine, law, education, art, religion and entertainment. Who’s Who in America® remains an essential biographical source for thousands of researchers, journalists, librarians and executive search firms worldwide. The suite of Marquis® publications can be viewed at the official Marquis Who’s Who® website, www.marquiswhoswho.com.

Marquis Who’s Who
Uniondale, NY
(844) 394 – 6946
info@marquiswhoswho.com
www.marquiswhoswho.com

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COALITION OF INDEPENDENT INTERNET PROVIDERS ASKS CRTC TO FIX ERRORS IN WHOLESALE FIBRE RATES

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Coalition of competitive ISPs say current fibre rates make competition impossible and threatens to harm millions of Canadian consumers

CHATHAM, ON, July 23, 2026 /CNW/ — A coalition of independent internet service providers (the Coalition) led by TekSavvy Solutions Inc. (TekSavvy) today applied to the Canadian Radio-Television and Telecommunications Commission (CRTC) to review and vary Telecom Order 2026-77, which set final wholesale rates for fibre internet services. In that decision, the CRTC approved wholesale rates for fibre internet services that are higher than the retail prices charged by the large carriers. This makes competition impossible, as independent providers are forced to either sell at a loss or set prices above the large carriers, leaving millions of Canadian consumers without competitive options for essential internet services.

The application identifies key errors that led the CRTC to approve severely inflated final wholesale rates, which make it economically impossible for independent providers to compete. The Coalition argues that the CRTC’s incorrect rates negate the very purpose of Canada’s wholesale framework, which is to foster competition in retail broadband markets. Specifically, the Coalition asks the CRTC to make three key changes to Telecom Order 2026-77:

Eliminate one cost factor that is inconsistent with the CRTC’s established costing principles, which artificially increased fibre wholesale rates by an estimated 25% to 30% (the Adjustment Factor).Reduce another element of the costing that is inflated above reasonable levels: The Coalition calls on the CRTC to reduce the markup applied to wholesale fibre services from 30% to 15%, reflecting declining costs, operational efficiencies, and the need to support competition.Correct technical errors relating to certain wholesale fibre speed descriptions.

“Canadians were promised greater competition for fibre internet services, but these rates make competition impossible.” said Andy Kaplan-Myrth, TekSavvy’s Vice President of Regulatory and Carrier Affairs. “The CRTC must correct these errors to ensure its wholesale rates promote broadband competition that challenges the market power of monopoly incumbents, lowers prices, and increases consumer choice.”

About the Coalition

The Coalition consists of competitive telecommunications providers and industry associations advocating for fair wholesale access to fibre networks and a competitive broadband marketplace that delivers affordable, high-quality Internet services to Canadians, including: TekSavvy Solutions Inc., BC Broadband Association (“BCBA”), Canada-Wide Internet Service Providers Association (“CanWISP”), Fibernetics Inc., ISP Telecom Inc., National Capital FreeNet Inc., Novus Entertainment Inc. and Purple Cow Internet Inc.

About TekSavvy Solution Inc.

Based in Chatham, Ontario, TekSavvy is Canada’s largest independent telecom service company. TekSavvy has been proudly delivering award-winning services and fighting for consumers’ rights for nearly 30 years. TekSavvy is committed to providing quality competitive choice and closing Canada’s digital divide.

SOURCE TekSavvy Solutions Inc.

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Monk Launches Voice Collections, Bringing AI Phone Calls and Callbacks to Accounts Receivable

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Monk’s collections agent, Julia, can now place outbound collection calls and answer inbound AR questions from a dedicated business number, so finance teams can use the channel that collects best without adding headcount.

Multimedia: Watch Voice Collections in action: https://youtu.be/w09PoN1yACE 

NEW YORK, July 23, 2026 /PRNewswire/ — Monk, the AI-native accounts receivable platform, today launched Voice Collections. Its collections agent, Julia, can now place outbound collection calls and answer inbound customer questions about invoices and payments from a dedicated phone number for each organization. The feature brings the phone, long the most effective collections channel and the hardest one to scale, into Monk’s Intelligent Collections.

Roughly $10 trillion sits in unpaid invoices worldwide, and the average invoice now takes 59 days to clear (Allianz). Most accounts receivable runs on email, and most of it waits. More than half of B2B invoices in the United States are overdue at any given time, and 92% of businesses are typically paid after their due date (Chaser, 2026). Phone calls recover overdue invoices two to three times better than email (Dunwise), yet 91% of finance teams still rely on email as their main follow-up channel and only 56% use the phone, because calling every overdue account by hand does not scale and a single human dunning call can cost $12 to $18 (HighRadius).

Voice Collections gives teams that coverage. Julia can call on the accounts a playbook flags for phone follow-up, and answer when a customer calls the same number back to ask about an invoice, a payment, or a bank detail. Businesses that follow up on 100% of overdue invoices are 76% more likely to be paid within a week (Chaser), and a voice agent is what makes full coverage possible.

Monk’s collections agent is already proven on the accounts it handles by email. Across Monk’s first 100 customers, Julia reaches customers with a 24% higher response rate than standard dunning and resolves 88.2% of collections with zero human intervention. Voice extends that reach to the phone.

“For years the assumption was that customers would not talk to an AI on the phone,” said George Kurdin, Founder and CEO of Monk. “The evidence now points the other way. People engage with a good voice agent, and in AR the phone was always the channel that collected best. We built Voice Collections so finance teams can finally use it at the scale email gave them.”

That assumption is worth retiring. In a University of Chicago Booth field study of roughly 70,000 interviews, people interviewed by a voice AI agent were 12% more likely to receive an offer, 18% more likely to start, and 17% more likely to still be there after 30 days, and 80% chose the voice AI over a human when given the choice. The setting was recruiting rather than collections, but the finding travels: given a capable voice agent, people lean in rather than hang up. A call also does something email cannot, which is secure a verbal promise to pay in the moment.

Built for finance, with the phone agents kept with strict guardrails

Voice in finance has to be constrained, and Monk designed Voice Collections around that from the start. The agent is read-only on the phone. It answers questions, confirms details, and routes the next step. It will not rewrite an invoice, change a payment status, or accept a sensitive payment change by voice.

The agent is also reference-based. If a caller asks about an invoice, Julia asks for both the company name and the invoice number before looking anything up, and it will not search broadly from a single detail. Every inbound and outbound call is kept in the collection record alongside the email history, so a callback is part of the same thread the team already sees, and anything that needs judgment escalates to a person.

“Voice in finance has to be careful by design,” said Joe Zhou, Co-Founder and CTO of Monk. “Julia will not browse across accounts or move money over the phone. A caller has to bring the company name and invoice number before it confirms anything, and every call lands in the record. In finance a 1% mistake is still unacceptable, so we built for that first and added the reach second.”

Teams run autonomous collections on Monk

Monk runs collections for finance teams at companies like Unify, Pump, Siro, and Elate, and Voice Collections extends what those teams already do by email onto the phone.

“We chose Monk to help automate our collections, a process previously demanding several hours a week of manual, one-off outreach,” said Will Stewart, Head of Finance and BizOps at Unify. “Today, our Monk agent is always running in the background and I have a single dashboard to manage AR from.”

At Pump, which manages volume across more than 1,500 customers, Monk has helped collect over $10 million in recent months.

Voice AI is now infrastructure

The timing reflects how far voice AI has come. It has moved from demo to infrastructure: Vapi has processed more than 1 billion calls, Bland handles over 3.5 million calls a week, and ElevenLabs raised a $500 million round at an $11 billion valuation in early 2026. Monk builds Voice Collections on that foundation and adds the part finance actually needs, which is the AR context, the controls, and the audit trail.

Voice Collections is available now as an opt-in feature. Monk configures the dedicated number and call behavior with each organization before turning it on in Collections. See it in action: https://youtu.be/w09PoN1yACE.

About Monk

Monk is the AI-native accounts receivable platform that helps finance teams turn revenue into cash. Its agent, Julia, runs collections, cash application, and forecasting as one connected system. Monk resolves 88.2% of collections with zero human intervention, reaches customers with a 24% higher response rate than standard dunning, reduces DSO by more than 40%, automatically matches 80% of incoming payments with a full audit trail, and gives finance teams back roughly 26 hours a month. Teams onboard in under a week and see results in their first month. More than $1.5 billion in receivables is managed on the platform, including for customers like Profound and ElevenLabs. Monk has raised $25 million and is based in New York.

Media contact
Kendall Warson
kendall@monk.com
+1 415-827-6585

Sources: Chaser 2026 Accounts Receivable research; Dunwise dunning research; HighRadius collection call cost analysis; University of Chicago Booth field study on AI in recruiting; voice AI figures compiled by Enterprise DNA; Federal Reserve data; Allianz Worldwide DSO survey.

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SOURCE Monk

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