Lanvin to open stores after cash-flush listing

With no debt and 150 million euros in the black after its New York listing last week, the Lanvin Group said it will open stores to accelerate growth.

The Group, which operates Lanvin, Wolford, shoemaker Sergio Rossi and tailoring brand Caruso, may also look to other acquisitions to boost its portfolio and presence, Executive President and Co-COO, David Chan told Reuters.

Retail expansion is at the top of the agenda, however, with 200 new stores due to open within the next three years.

“This is the start of the new journey to become a 1billion dollar revenue size group. We need to build up to the next scale, but at that time we hope we have more brands and our brand matrix will be richer than it is now," Lanvin Group Chairman and Chief Executive Joann Cheng told Reuters in an interview.

In the first of half of 2022 the Group saw revenue climb 73 percent, with Lanvin and Wolford taking the lion’s share. Sergio Rossi migrated to the Shopify platform this year with Lanvin expected to follow suit in 2023, as part of a drive to upgrade its brands' digitalization and e-commerce efforts.