Lanvin Group Posts Record Sales and Continued Margin Improvement in 2022. Revenues Up 37% Year-over-Year.

Lanvin Group (NYSE: LANV, the "Group"), a global luxury fashion group with a portfolio of brands including Lanvin, Wolford, Sergio Rossi, Saint John and Caruso, today announced its full-year 2022 results. The Group achieved sales of €422 million (up 37% compared to 2021) and gross profit of €238 million (up 40% compared to 2021), resulting in a gross margin of 56%. Joan Chen, President and CEO of Lanvin Group, said: "We are pleased with our progress in 2022. Not only did we achieve our highest sales figures ever, but we also made great progress in improving our cost structure and streamlining our operations. 2022 has laid a strong foundation for 2023. Despite the current macroeconomic situation, we remain optimistic for the year, especially as the recovery in Greater China continues."

Full-year 2022 financial results review

Lanvin Group sales by segment In thousands of euros (unless otherwise noted)

Group total

Lanvin Group key financials In thousands of euros (unless otherwise noted)

Highlights

Strong growth across all brands, channels and regions: all five brands grew year-on-year. Lanvin, the Group's flagship brand, increased its wholesale business by 145% and its DTC business by 27%, increasing its global sales by 64%. In addition, the Group's regions and channels also showed strong sales growth, with EMEA up 39% and North America up 34%. 36% growth. Of particular note was Greater China, which was impacted by the pandemic, which grew by 15%.

Continuous improvement in margin profile: Margins improved in 2022 at all levels: gross profit, contribution and adjusted EBITDA. Gross margin increased to 56% and adjusted EBITDA as contribution increased by 23 percentage points from 2020. Operations The improvement strategies implemented in 2022 began to show results in the second half of the year, resulting in a continued improvement in the margin profile, which will have a significant impact in 2023.

Redefined brand and product strategies are delivering results: One of the main drivers of growth in 2022 was the redefinition of the brand strategy and the optimization and blending of product categories. New product lines and categories, partnerships and a focus on accessories impacted growth and margins. Additionally, improved digital engagement as part of the overall strategy successfully attracted new customers and a younger demographic.

Digital strategies have succeeded: Digital Marketing has a strong influence on 2022, and brands have become more and more attractive. In the second half of 2022, the group built a digital platform in collaboration with a North American partner and distributed the Group's brand online. Sergio Rossi and Ranban have already succeeded in migrating e-commerce in North America to the platform, and are expected to bring further growth to each brand in the next few years.

Optimization of store networks is greatly progressing: The group has successfully opened 47 new stores throughout the system. With the improvement of the store strategy implemented in 2022, the finance of the department has improved, and the retail door network of the entire group has achieved two digits on the previous year. In addition, the group has been actively working on network consolidation, along with bran d-level management, closing 49 unprofitable stores throughout the network. These initiatives have set a powerful foundation for the growth of physical footprints since 2023.

2022 Financial Stock Review

In 2022, the total sales of the entire group increased 37 % yea r-o n-year to 422 million euros. All brands showed powerful growth, especially Lanvan increased by 64 % yea r-o n-year. The DTC channel and the hall sale channel showed 32 % to 41 %, respectively. The group has maintained a powerful growth trend with an average annual growth rate of 38%since 2020. The details of the group's revenue are published in the annual report (Form 20-F) of the year ending on December 31, 2022.

General profit

Gross profit increased to 238 million euros, up to 56 % to 55 % of the previous year, to 55 % of the profit rate of € 170 million in 2021. Gross profit increased more than twice since 2020, when the profit margin was 117 million euros and a profit margin of 53%. The Group has continued to improve the margin profile through its brand business.

Contribution profit margin (1)

The Group uses indicators called contribution profit internally. Contribution profits are defined as deducted sales and marketing expenses from gross profit, and are used to measure vibration profitability and analyze the improvement of the brand of the Group. The contribution profit for the current fiscal year was 13 million euros, improving the contribution profit of 9 million euros from the first year, the first year, and increased significantly from 2020, which was 34 million euros.

EBITDA after adjustment

Adjusted EBITDA will remain negative in 2022, but as a percentage of sales it continues to improve from (40%) in 2020 to (19%) in 2021 and (17%) in 2022.

Segment profits

Lanvin: Gross profit increased to EUR 61 million (50%) from EUR 34 million in 2021 (margin 47%). Gross profit improved due to higher sell-through rates and greater economies of scale in all product categories. Contribution margin continued to improve, from a contribution loss of EUR 24 million in 2021 to a contribution loss of EUR 15 million in 2022, with the contribution margin improving by 20 percentage points year-on-year, from minus 33% to minus 13%.

Wolford: Gross profit increased to EUR 86 million from EUR 79 million in 2021. Margins declined slightly due to raw material inflation and higher manufacturing labor costs due to redundant personnel being reinstated at higher wages. Dividends received decreased from €20 million to €4 million, mainly due to the recognition of non-recurring expenses. These include legacy operational improvement consultancy fees billed in the first half of 2022 before the new management took over in the second half of 2022, and a cyber attack on a third-party logistics provider in December 2022 that disrupted deliveries during the peak holiday season.

Sergio Rossi: Sergio Rossi was acquired in July 2021. Since then, gross margins have increased from 46% to 50% in 2022. Gross margins improved due to an increase in the proportion of more profitable DTC sales. Gross margins decreased slightly in 2022 from 13% to 11% due to increased investments in staff, marketing and rental costs.

Saint John: Saint John's margin profile improved dramatically, with gross profit increasing from €39 million to €53 million in 2022, and margins increasing from 53% to 61%. Contribution margin also increased from €1 million to €10 million, and margins increased from 2% to 12%. Saint John is the culmination of strategic planning at the Group's brand level, with many initiatives nearing completion and paying off.

Caruso: Caruso continued to achieve stable and stable achievements, increasing sales in 2022 from 4 million euros to 7 million euros, and rising from 18%to 23%. Contribution profits have increased from 3 million euros to 6 million euros, and the contribution margin has increased significantly from 13%to 18%. Caruso has utilized the increase in sales from new customers and deeper penetration to existing customers, improving profitability due to better management of factory labor costs, sales and marketing costs.

Expect of 2023

Despite the continued macroeconomic issues, the Group is expected to maintain the momentum of 2022 until 2023, and to achieve improvements in the year as the year progresses.

Many of the Nuts and Bolts initiative, which began in 2022, will be completed in 2023 and will continue to improve profits. In addition, the optimization of stores has progressed considerably, and we will continue to strengthen the store network in FY2023, but we believe that the group is in a system that can flexibly expand the number of stores. The group plans to achieve a profit in FY2024.

The team is built on a cooperative ecosystem and continues to build platforms in cooperation with strategic partners. Therefore, the group is exploring new investment and acquisitions to further strengthen brands and platforms.

Note: All increase and decrease rates are calculated on a exchange rate base.

Note The Lanvin Group gained a majority of Sergio Rossi's shares in July 2021, and Sergio Rossi was incorporated into the Lanvin Group's consolidated revenue from the acquisition date.

Note: This communication includes a contribution profit rate, contribution margin, after adjustment, ta x-prone profit ("after adjustment"), after adjustment, interest rates, taxes, depreciation, and before depreciation ("after adjustment eBITDA"). Includes no n-IFRS financial indicators. See the finance indicators and the definition of no n-IFRS.

(1) Sales operating profit margins are defined as deducting sales and marketing costs from gross profit.

Annual report (form 20-F)

The annual report (FORM 20-F), including the consolidated financial statements for the fiscal year ending on December 31, 2022, is "finance/sec filing" of our IR website (IR. Lanvin-group. com). Or download from the SEC website (www. Sec. Gov).

Conference

As previously announced, a conference call will be held today at 8:00 AM EST (8:00 PM JST) and a slide presentation will be provided during the call at 8:00 PM EST (8:00 PM JST) and 2:00 PM JST (2:00 PM JST). To access the presentation, please visit the Group's IR website (https://ir. lanvin-group. com) under the "Events" tab. To participate in the conference call, please call the following numbers:

US 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 Toll Free: 852-301-894 Toll Free: 800-120-6157

A replay of the conference call will be available approximately one hour after the live call until April 27, 2023, at the following numbers:

US Toll Free: 1-877-344-7529 International: 1-412-317-0088 Canada Toll Free: 855-669-9658 Replay Access Code: 3267257

A recorded webcast of the conference call and a slide presentation will be available on our Investor Relations website at https://ir. lanvin-group. com.

Next Announcement

The next announcement is scheduled for August 2023, when the Group will release its first half-year 2023 financial results. To receive email alerts regarding the timing of future announcements and future announcements, please register at https://ir. lanvin-group. com.

About Lanvin Group

Based in Shanghai, China, Lanvin Group is a leading luxury fashion group with iconic global brands including Lanvin, Wolford, Sergio Rossi, St. John Knits and Caruso. Leveraging its unique strategic alliances with leading partners in the luxury fashion industry, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investments and extensive operating expertise, in addition to a deep understanding of and unparalleled access to the world's fastest growing luxury fashion market. Lanvin Group is listed on the New York Stock Exchange under the symbol "LANV". For more information about Lanvin Group, please visit www. lanvin-group. com and for investor presentations please visit https://ir. lanvin-group. com.

Future Statements

This release (including the section titled "Outlook for 2023") contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally include words such as "believe," "may," "might," "will," "estimate," "continue," "expect," "intend," "anticipate," "should," "will," "plan," "predict," "potential," "seems," "seems," "seek," "future," "outlook," "projects" and similar expressions that predict or suggest future events or trends, or that are not statements of historical fact. These forward-looking statements include, but are not limited to, estimates and forecasts of other financial and performance indicators and statements regarding forecasts of market opportunities. These statements are based on various assumptions and the current expectations of the respective management of the Lambin Group, whether or not specified in this release, and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and should not be relied upon by investors as guarantees, assurances, predictions or definitive statements of fact or probability. Actual events or circumstances are difficult or impossible to predict and are subject to assumptions. Many actual events and circumstances are beyond the control of the Lanvin Group and may give rise to significant risks and uncertainties.

The ability to succeed in the Lanvin Group's business strategy and business plan, the ability to effectively manage advertisements and marketing costs, achieve the effects of the period, the ability to accurately predict consumers, and in the hig h-end personal care market The intensification of competition, the ability to succeed in the Lanvin Group's business strategy and business plan. The Lanvin Group effectively manages advertising and marketing costs, the ability to achieve desired effects, the ability to accurately predict the demand of consumers, hig h-level competition in the luxury personal care market, the distribution facility of the Lanvin Group The ability to negotiate, maintain, or update license agreements, by Lanvin Group disorders for distribution partners. Ability to protect the intellectual property right of the Lanvan Group. Ability to attract, maintain and maintain craftsmanship by Lanvin Group. Lanvin Group's ability to develop and maintain effective internal control. The general economic situation, as a result of future financing efforts, and these factors, are described in the report that the Lanvin Group is constantly submitted to the SEC. If any of these risks are realized or that the lamban group's assumptions are incorrect, the actual results may be significantly different from the following items.

Use of no n-IFRS Financial indicators < SPAN> The ability to successfully manage the business strategy and business plan of the Lanvin Group, the ability to effectively manage advertisements and marketing costs, accurate the demand of consumers Predicted ability, intensifying competition in the luxury personal care market, the ability to succeed in the Lanvin Group's business strategy and business plan. The Lanvin Group effectively manages advertising and marketing costs, the ability to achieve desired effects, the ability to accurately predict the demand of consumers, hig h-level competition in the luxury personal care market, the distribution facility of the Lanvin Group The ability to negotiate, maintain, or update license agreements for Lanvin Group, a disability of distribution partners. Ability to protect the intellectual property right of the Lanvan Group. Ability to attract, maintain and maintain craftsmanship by Lanvin Group. Lanvin Group's ability to develop and maintain effective internal control. The general economic situation, as a result of future financing efforts, and these factors, are described in the report that the Lanvin Group is constantly submitted to the SEC. If any of these risks are realized or that the lamban group's assumptions are incorrect, the actual results may be significantly different from the following items.

Use of no n-IFRS Financial indicators Use Lanvin Group's business strategy and business planning, the ability to effectively manage advertisements and marketing costs, achieve the effects of the period, and the ability to accurately predict consumer demand , Approximately intensifying competition in the luxury personal care market, the success of the Lanvin Group's business strategy and business planning. The Lanvin Group effectively manages advertising and marketing costs, the ability to achieve desired effects, the ability to accurately predict the demand of consumers, hig h-level competition in the luxury personal care market, the distribution facility of the Lanvin Group The ability to negotiate, maintain, or update license agreements for Lanvin Group, a disability of distribution partners. Ability to protect the intellectual property right of the Lanvan Group. Ability to attract, maintain and maintain craftsmanship by Lanvin Group. Lanvin Group's ability to develop and maintain effective internal control. The general economic situation, as a result of future financing efforts, and these factors, are described in the report that the Lanvin Group is constantly submitted to the SEC. If any of these risks are realized or that the lamban group's assumptions are incorrect, the actual results may be significantly different from the following items.

Use of no n-IFRS financial indicators