UNITEDSTATES
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 2024

 

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 registrantfiles or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F  x   Form 40-F  ¨

 

 

 

 

 

 

INCORPORATIONBY REFERENCE

 

Exhibits 99.1 and 99.2 tothis Form 6-K are incorporated by reference into the registration statement on Form F-3 (No. 333-276476), the post-effective amendmentNo. 4 to Form F-1 on Form F-3 (No. 333-269150) and the registration statement on Form F-3 (No. 333-280891) of Lanvin Group Holdings Limitedand shall be a part thereof from the date on which this Report is furnished, to the extent not superseded by documents or reports subsequentlyfiled or furnished.

 

 

 

 

EXHIBIT INDEX

 

Exhibit 
Number

 

Description

99.1   Lanvin Group 2025 First Half Earnings Results Press Release
99.2   Lanvin Group 2025 First Half Results Presentation

 

 

 

SIGNATURES

 

Pursuant to the requirements of the SecuritiesExchange 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/ Kat Yu David, Chan
    Name: Kat Yu David, Chan
    Title: Chief Financial Officer

 

Date: August 29, 2025

 

 

 

 

Exhibit 99.1

 

 

Lanvin Group Reports H1 2025 Revenue of €133Million Operational Discipline and Early Recovery Momentum Set Foundation for Growth in H2

 

·Group revenue was €133 million in H1 2025, down 22% versus H1 2024, reflecting industry-wide softness in the global luxury sector and the Group’s strategic repositioning. Despite these headwinds, disciplined cost management and operational efficiencies have supported resilience and positioned the Group for recovery.

 

·Gross profit margin stood at 54% with Q2 showing early signs of improvement as prior season inventory is cleared and efficiency programs across all brands take effect.

 

·Brand highlights include resilient EMEA retail and a strong rebound in North America e-commerce at Lanvin, 14% wholesale growth at Wolford, and continued strength at St. John with a stable 69% gross margin.

 

·Exciting creative momentum lies ahead with Peter Copping at Lanvin and Paul Andrew at Sergio Rossi, alongside milestone celebrations such as Wolford’s 75th anniversary and Caruso’s expanding wholesale presence.

 

·Group-wide priorities in H2 2025 include continued refining the retail footprint and driving operational efficiencies; elevating product assortments; launching targeted marketing campaigns and strengthening wholesale partnerships.

 

August 29, 2025 - Lanvin Group (NYSE:LANV, the “Group”), a global luxury fashion group with Lanvin, Wolford, Sergio Rossi, St. John and Caruso in its portfolioof brands, today announced its unaudited results for the first half of 2025. Despite ongoing industry-wide pressures, the Group deliveredperformance underpinned by strong cost discipline, operational efficiency, and visible signs of recovery in the second quarter.

 

Group revenue for H1 2025 was €133 million,reflecting a 22% year-on-year decline, largely driven by softer wholesale in EMEA, cautious consumer sentiment in Greater China, anda broader luxury market slowdown, with the Group's proactive decision to advance its strategic repositioning across geography and productassortment. Despite these transitional conditions, the Group delivered gross profit of €72 million with a margin of 54%, supportedby disciplined inventory management during the creative transition and ongoing cost efficiencies. While contribution profit remainedunder pressure, proactive overhead reductions and more targeted marketing investments helped to partially offset the impact, laying groundworkfor improved performance in the second half.

 

 

 

 

Zhen Huang, Chairman of Lanvin Group,said: “Despite a challenging luxury market in the first half, we remained disciplined in cost management and strategic streamlining,responsive to market dynamics, and steadfast in our commitment to unlocking the long-term potential of our brands. With new creativeleadership and continued investment in product innovation, we are well positioned to capture opportunities as the market environmentimproves.”

 

Andy Lew, Executive President of Lanvin Group,said: “In the first half, our focus was on operational discipline and laying the foundation for future growth. With fresh creativedirection across our houses, supported by targeted marketing and refined channel strategies, we expect to build brand momentum and increaseconsumer engagement in the second half. We remain agile and execution-focused as we strengthen brand desirability and prepare for recovery.”

 

Review of the First Half 2025 Results

 

Lanvin Group Revenue by Brand

€ in Thousands, unless otherwise
  2023   2024   2025   2024H1
vs
   2025H1
vs
   23 H1 –
25 H1
 
noted  H1   H1   H1   2023H1   2024H1   CAGR 
Lanvin   57,052    48,272    27,932    -15.4%   -42.1%   -30.0%
Wolford   58,802    42,594    32,985    -27.6%   -22.6%   -25.1%
St. John   46,663    39,981    39,654    -14.3%   -0.8%   -7.8%
Sergio Rossi   33,019    20,404    15,314    -38.2%   -24.9%   -31.9%
Caruso   19,926    19,734    17,627    -1.0%   -10.7%   -5.9%
Total Brand   215,462    170,985    133,512    -20.6%   -21.9%   -21.3%
                               
Eliminations   -925    -9    -117    NM    NM    NM 
Total Group   214,537    170,976    133,395    -20.3%   -22.0%   -21.1%

 

Lanvin Group Consolidated P&L
€ in Thousands, unless
  2023   2024   2025 
otherwise noted  H1   %   H1   %   H1   % 
Revenue   214,537    100.0%   170,976    100.0%   133,395    100.0%
Gross profit   125,454    58.5%   98,378    57.5%   71,905    53.9%
Contribution profit   14,854    6.9%   -7,213    -4.2%   -15,188    -11.4%
Adjusted EBITDA   -40,916    -19.1%   -42,111    -24.6%   -51,930    -38.9%

 

 

 

 

Selected Highlights

 

Disciplined cost containment: Despitethe decline in Group revenue, gross profit margin compressed by only 364 bps, reflecting the impact of swift, company-wide cost optimizationmeasures. Since H1 2023, G&A expenses have been reduced by 35% at St. John, 27% at Wolford, and 25% at Sergio Rossi. The retail networkoptimization program launched in 2024 continues to advance, delivering tangible efficiencies and strengthening the Group’s operationalfoundation.

 

St. John resilience: St. John deliveredstable performance in H1 2025 despite a volatile luxury environment, reflecting the benefits of strategic transformation initiativesundertaken in recent years. Revenue remained nearly flat, supported by 4% growth in its core North America market and an 11% increasein wholesale through key account partnerships. With a strong gross margin of 69% and consistent full-price sell-through, St. John demonstratedthe resilience and strengthened foundation achieved through these efforts amid broader market softness.

 

New leadership positions: Andy Lew, CEOof St. John, was appointed Executive President of Lanvin Group in January 2025. In his new role, he is driving the establishmentof a second company headquarters in Europe to streamline operations and strengthen global management capabilities. At the brand level,leadership team have also been reinforced with numbers of key appointments, including a new deputy CEO at Wolford and the addition ofa Chief Commercial Officer, Chief Merchandising Officer, and Chief Operating Officer at St. John, positioning the brands for their nextphase of growth.

 

Q2 improvements across brands: Lanvinand Sergio Rossi achieved a strong quarter-over-quarter rebound across both retail and e-commerce, highlighting early signs of renewedconsumer traction. Wolford reported a significant improvement in Q2 margins, supported by disciplined inventory management and cost savings,making continued recovery from last year’s logistics disruption. St. John sustained its solid momentum throughout the period.

 

Artistic direction: Peter Copping debutedas Lanvin's artistic director at Paris Fashion Week, presenting an elegant, archival-inspired Autumn/Winter 2025 collection that featuredArt Deco motifs, metallic pieces, and menswear: signalling a revival of the house's heritage-driven identity. Paul Andrew’s firstSergio Rossi collection also launches in H2 2025. Both are expected to reinvigorate brand momentum.

 

 

 

 

Review of First Half 2025 Financials

 

Revenue

 

For H1 2025, the Group generated revenue of €133million, a 22% decrease year-over-year. The decline was driven by global luxury market softness, strategic repositioning of DTC channels,and weaker wholesale demand in EMEA. DTC revenue fell 23% and Wholesale declined 22%, reflecting the combined effects of cautious retailerbuying patterns and slower traffic in key luxury markets.

 

Gross Profit

 

Gross profit was €72 million, representing a margin of 54%, comparedto 58% in H1 2024. The decrease reflected sell-through of prior-season inventory with creative transition, underutilization of productioncapacity, and product mix changes. While all brands took steps to improve sell-through and manage inventory levels, these efforts wereoutweighed by the industry-wide headwinds faced in the period.

 

Contribution Profit

 

Contribution profit was -€15 million in the first half, reflectingthe impact of lower revenue and gross margin compression. Since 2024, the Group has rolled out comprehensive cost discipline measuresacross its brands, including tighter control of marketing spend and reallocation of resources toward higher-return initiatives. Theseactions have helped to partially mitigate the topline pressure and strengthen the foundation for improved profitability going forward.

 

Adjusted EBITDA

 

Adjusted EBITDA was -€52 million in H1 2025,compared with -€42 million in the prior-year period. The decline primarily reflected lower gross profit, though disciplined costmanagement helped limit further downside. At the same time, the Group continued to invest in creative initiatives—including design,fabric development, prototyping, and sampling of new collections at Lanvin and Sergio Rossi. These forward-looking investments, togetherwith ongoing cost discipline, reinforce brand equity and competitiveness, positioning the Group to capture market share and enhance profitabilityas market conditions stabilize.

 

 

 

 

Results by Segment

 

Lanvin:

 

Lanvin’s revenue in H1 2025 reflected atransition period, declining 42% year-over-year, as wholesale clients in EMEA anticipated the debut of Peter Copping’s first collection,combined with a generally cautious industry sentiment. Retail sales in EMEA remained highly resilient, while APAC retail progressed inline with strategic refocusing, and North America e-commerce delivered a strong rebound following the successful launch of the Marketplacemodel.

 

Gross margin contracted by 366 basis points,largely due to product mix, challenging market conditions, and the ongoing retail network optimization. Despite revenue decline, contributionprofit demonstrated the benefits of disciplined cost control while the brand continued to invest in Peter’s upcoming debut.

 

For the second half, Lanvin will launch an integratedmarketing campaign for Peter’s highly anticipated collection, refresh in-store visual merchandising, host targeted clientelingevents to drive traffic and continue to reinvest efficiencies into flagship locations and digital channel partnerships.

 

Wolford:

 

Wolford recorded a 23% decline in revenue year-over-year,reflecting the lingering effects of the prior year’s logistics transition. The wholesale channel delivered robust 14% growth, supportedby a sharpened focus on partnerships, while DTC trends reflected the planned rightsizing of the retail network.

 

Gross margin was impacted by lower productionabsorption and targeted inventory clearance to strengthen stock health. At the same time, G&A expenses were reduced by 18% comparedto the prior period, highlighting Wolford’s strong commitment to operational discipline.

 

In the second half, under the leadership of newdeputy CEO Marco Pozzo, Wolford will celebrate its 75th anniversary with a major brand push, focused on optimizing product assortment,highlighting hero products, and advancing supply chain transformation. The brand will also explore expansion opportunities in high-potentialmarkets, particularly the Middle East and Asia Pacific.

 

Sergio Rossi:

 

Sergio Rossi’s revenue decreased 25%, withDTC down 21% and Wholesale down 33%, as customers awaited the arrival of Paul Andrew’s debut collection in the second half. Grossmargin softened by 9%, due to product mix change and lower production utilization.

 

 

 

 

2025 Q2 delivered encouraging signs of recovery,with retail sales up 17% and e-commerce up 10% quarter-over-quarter, reflecting the benefits of channel optimization initiative. Contributionprofit margin contracted due to lower revenue, though effective cost control partially offset the impact.

 

Looking ahead to H2, Sergio Rossi will acceleratewholesale expansion through new partnerships, continue to enhance operational efficiency and reinvigorate its brand image with the launchof Paul Andrew’s debut collections while strengthening its presence in core markets.

 

St. John:

 

St. John delivered a stable performance in H12025, with revenue broadly flat despite a challenging luxury environment. Its revenue in North America grew 4%, underscoring the brand’sstrength in its core market, while wholesale revenue increased 11% on the back of strategic key account partnerships. The brand maintaineda strong 69% gross margin, supported by consistent full-price sell-through and growth from the wholesale model with Nordstrom.

 

Contribution profit margin was stable at 11%.For the second half of 2025, St. John will continue refining its key channels to improve conversion, stimulate e-commerce with newlyonboarded talent, enhance product design and merchandising processes, and optimize supplier mix.

 

Caruso:

 

Caruso’s revenue declined 11%, primarilydue to a temporary slowdown in its Maisons business, reflecting a broader reset phase in the luxury market accompanied by delivery scheduleshifts, and related production adjustments. The proprietary Caruso brand showed continued growth, supported by demand for its ready-to-wearofferings.

 

Gross margin remained resilient at 29% with contributionprofit showing a slight decrease despite the market headwinds. For the remainder of 2025, Caruso will support the relaunch of selectAAA Maison lines through collaborations with their new creative directors, expand wholesale accounts in growth markets, and continueoptimizing its cost structure to improve operational efficiency.

 

 

 

 

2025 Full-Year Outlook

 

The Group expects ongoing market challenges inH2 2025 but will remain firmly focused on cost efficiency and targeted brand investment. Strategic initiatives already in progress includeoptimizing the retail footprint, enhancing operational efficiencies, elevating product assortments, launching high-impact marketing campaigns,and strengthening wholesale partnerships. These actions are beginning to deliver encouraging results, with their impact expected to becomemore pronounced in the second half of the year. Lanvin and Sergio Rossi will harness the momentum of their new creative leadership todrive these initiatives forward, while St. John, Wolford, and Caruso continue to refine channel strategies and expand their presencein key markets.

 

 

Note: All % changes are calculated on an actualcurrency exchange rate basis.

 

Note: This communication includes certain non-IFRSfinancial measures such as Contribution Profit, Contribution Profit Margin, Adjusted Operating Profit, adjusted earnings before interestand taxes (“Adjusted EBIT”), and adjusted earnings before interest, taxes, depreciation and amortization (“AdjustedEBITDA”). Please see Use of Non-IFRS Financial Metrics and Non-IFRS Financial Measures and Definition.

 

***

 

Semi-Annual Report

 

Our semi-annual report, including the interimcondensed consolidated financial statements as of and for the six months ended June 30, 2025, can be downloaded from the Company’sinvestor relations website (ir.lanvin-group.com) under the section Financials / SEC Filings, or from the SEC’s website (www.sec.gov).

 

***

 

Conference Call

 

As previously announced, today at 8:00AM EST/8:00PMCST/2:00PM CET, Lanvin Group will host a conference call to discuss its results for the first half of 2025 and provide an outlook forthe remainder of the year. Management will refer to a slide presentation during the call, which will be made available on the day ofthe 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 conferencecall must pre-register using the link provided below. Once the registration is complete, participants will receive dial-in numbers, apasscode, and a registrant ID which can be used to join the conference call. Participants may register at any time, including up to andafter the call starts.

 

 

 

 

Registration Link:

 

https://dpregister.com/sreg/10202336/ffc7b43240

 

A replay of the conference call will be accessibleapproximately one hour after the live call until September 5, 2025, 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: 6290073

 

A recorded webcast of the conference call anda 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 fashiongroup headquartered in Shanghai, China and Milan, Italy, 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 fashionsector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategicinvestment and extensive operational know-how, combined with an intimate understanding and unparalleled access to the fastest-growingluxury fashion markets in the world. Lanvin Group is listed on the New York Stock Exchange under the ticker symbol 'LANV'. For more informationabout 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 “2025Full-Year Outlook”, contains “forward-looking statements” within the meaning of the “safe harbor” provisionsof 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 thatpredict 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 marketopportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectationsof the respective management of Lanvin Group and are not predictions of actual performance. These forward-looking statements are providedfor illustrative purposes only and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statementof fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Manyactual events and circumstances are beyond the control of Lanvin Group. Potential risks and uncertainties that could cause the actualresults to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes adverselyaffecting 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 impactof COVID-19 or similar public health crises on Lanvin Group’s business; Lanvin Group’s ability to safeguard the value, recognitionand reputation of its brands and to identify and respond to new and changing customer preferences; the ability and desire of consumersto shop; Lanvin Group’s ability to successfully implement its business strategies and plans; Lanvin Group’s ability to effectivelymanage its advertising and marketing expenses and achieve desired impact; its ability to accurately forecast consumer demand; high levelsof competition in the personal luxury products market; disruptions to Lanvin Group’s distribution facilities or its distributionpartners; Lanvin Group’s ability to negotiate, maintain or renew its license agreements; Lanvin Group’s ability to protectits 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 financingefforts; and those factors discussed in the reports filed by Lanvin Group from time to time with the SEC. If any of these risks materializeor Lanvin Group’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-lookingstatements. 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 statementsreflect Lanvin Group’s expectations, plans, or forecasts of future events and views as of the date of this communication. LanvinGroup anticipates that subsequent events and developments will cause Lanvin Group’s assessments to change. However, while LanvinGroup may elect to update these forward-looking statements at some point in the future, Lanvin Group specifically disclaim any obligationto do so. These forward-looking statements should not be relied upon as representing Lanvin Group’s assessments of any date subsequentto the date of this communication. Accordingly, reliance should not be placed upon the forward-looking statements.

 

***

 

 

 

 

Use of Non-IFRS Financial Metrics

 

This communication includes certain non-IFRSfinancial measures such as Contribution Profit, Contribution Profit Margin, Adjusted Operating Profit, adjusted earnings before interestand taxes (“Adjusted EBIT”), and adjusted earnings before interest, taxes, depreciation and amortization (“AdjustedEBITDA”). These non-IFRS measures are an addition, and not a substitute for or superior to measures of financial performance preparedin accordance with IFRS and should not be considered as an alternative to net income, operating income or any other performance measuresderived in accordance with IFRS. Reconciliations of non-IFRS measures to their most directly comparable IFRS counterparts are includedin the Appendix to this communication. Lanvin Group believes that these non-IFRS measures of financial results provide useful supplementalinformation to investors about Lanvin Group. Lanvin Group believes that the use of these non-IFRS financial measures provides an additionaltool for investors to use in evaluating projected operating results and trends in and in comparing Lanvin Group's financial measureswith other similar companies, many of which present similar non-IFRS financial measures to investors. However, there are a number oflimitations related to the use of these non-IFRS measures and their nearest IFRS equivalents. For example, other companies may calculatenon-IFRS measures differently, or may use other measures to calculate their financial performance, and therefore Lanvin Group's non-IFRSmeasures may not be directly comparable to similarly titled measures of other companies. Lanvin Group does not consider these non-IFRSmeasures in isolation or as an alternative to financial measures determined in accordance with IFRS. The principal limitation of thesenon-IFRS financial measures is that they exclude significant expenses, income and tax liabilities that are required by IFRS to be recordedin Lanvin Group's financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgementsby Lanvin Group about which expense and income are excluded or included in determining these non-IFRS financial measures. In order tocompensate for these limitations, Lanvin Group presents non-IFRS financial measures in connection with IFRS results.

 

***

 

 

 

 

Enquiries:

 

Media

Lanvin Group

Winni Ren

winni.ren@lanvin-group.com

 

Investors

Lanvin Group

Coco Wang

coco.wang@lanvin-group.com

 

 

 

 

Appendix

 

Lanvin Group Consolidated Income Statement

 

(€ in Thousands, unless otherwise noted)

 

  2023   2024   2025 
Lanvin Group Consolidated P&L  H1   %   H1   %   H1   % 
Revenue   214,537    100.0%   170,976    100.0%   133,395    100.0%
Cost of sales   -89,083    -41.5%   -72,598    -42.5%   -61,490    -46.1%
                               
Gross Profit   125,454    58.5%   98,378    57.5%   71,905    53.9%
Marketing and selling expenses   -110,600    -51.6%   -105,591    -61.8%   -87,093    -65.3%
General and administrative expenses   -76,544    -35.7%   -58,065    -34.0%   -56,754    -42.5%
Other operating income and expenses   -7,960    -3.7%   5,457    3.2%   -8,789    -6.6%
                               
Loss from operations before non-underlying items   -69,650    -32.5%   -59,821    -35.0%   -80,731    -60.5%
Non-underlying items   9,666    4.5%   3,143    1.8%   6,545    4.9%
                               
Loss from operations   -59,984    -28.0%   -56,678    -33.1%   -74,186    -55.6%
Finance cost – net   -11,970    -5.6%   -13,187    -7.7%   -12,806    -9.6%
                               
Loss before income tax   -71,954    -33.5%   -69,865    -40.9%   -86,992    -65.2%
Income tax (expenses) / benefits   -271    -0.1%   489    0.3%   208    0.2%
                               
Loss for the period   -72,225    -33.7%   -69,376    -40.6%   -86,784    -65.1%
                               
Contribution Profit (1)   14,854    6.9%   -7,213    -4.2%   -15,188    -11.4%
Adjusted Operating Profit (1)   -61,690    -28.8%   -65,278    -38.2%   -71,942    -53.9%
Adjusted EBIT (1)   -67,679    -31.5%   -58,994    -34.5%   -80,494    -60.3%
Adjusted EBITDA (1)   -40,916    -19.1%   -42,111    -24.6%   -51,930    -38.9%

 

 

 

 

Lanvin Group Consolidated Balance Sheet

 

(€in Thousands, unless otherwise noted)

 

   2024   2025 
Lanvin Group Consolidated Balance Sheet  FY   H1 
Assets        
Non-current assets        
Intangible assets   213,501    211,978 
Goodwill   38,115    38,115 
Property, plant and equipment   39,440    33,976 
Right-of-use assets   131,597    112,036 
Deferred income tax assets   11,598    11,788 
Other non-current assets   14,869    11,953 
    449,120    419,846 
Current assets          
Inventories   89,712    74,016 
Trade receivables   28,099    23,943 
Other current assets   29,112    37,756 
Cash and bank balances   18,043    29,723 
    164,966    165,438 
Total Assets   614,086    585,284 
Liabilities          
Non-current liabilities          
Non-current borrowings   25,222    10,266 
Non-current lease liabilities   117,966    100,294 
Non-current provisions   3,560    3,187 
Employee benefits   17,240    17,414 
Deferred income tax liabilities   51,390    51,422 
Other non-current liabilities   16,005    34,510 
    231,383    217,093 
Current liabilities          
Trade payables   80,424    56,497 
Current borrowings   158,540    258,561 
Current lease liabilities   36,106    32,669 
Current provisions   1,524    1,304 
Other current liabilities   139,020    126,980 
    415,614    476,011 
Total Liabilities   646,997    693,104 
Net liabilities   -32,911    -107,820 
           
Equity          
Equity attributable to owners of the Company          
Share capital    *(2)    *(2)
Treasury shares   -46,576     *(2)
Other reserves   779,356    725,291 
Accumulated losses   -737,186    -810,340 
    -4,406    -85,049 
Non- controlling interests   -28,505    -22,771 
Total Deficits   -32,911    -107,820 

 

 

 

 

Lanvin Group Consolidated Cash Flow

 

(€in Thousands, unless otherwise noted)

 

   2023   2024   2025 
Lanvin Group Consolidated Cash Flow  H1   H1   H1 
Net cash used in operating activities   -58,118    -33,483    -69,501 
Net cash (used in) / generated from investing activities   -28,531    -3,780    1,879 
Net cash flows generated from financing activities   26,396    26,646    80,333 
Net change in cash and cash equivalents   -60,253    -10,617    12,711 
                
Cash and cash equivalents less bank overdrafts at the beginning of the period   91,749    27,850    18,043 
Effect of foreign exchange differences on cash and cash equivalents   -649    646    -1,031 
Cash and cash equivalents less bank overdrafts at end of the period   30,847    17,879    29,723 

 

 

 

 

Lanvin Brand Key Financials(3)

 

(€in thousands, unless otherwise noted)

 

Lanvin Brand  2023   2024   2025  

24 H1
v

  

25 H1
v

  

23 H1–
25 H1

 
Key Financials  H1    %   H1    %   H1    %   23 H1   24 H1   CAGR 
Key Financials on P&L                                    
Revenues  57,052   100.0%  48,272   100.0%  27,932   100.0%  -15.4%  -42.1%  -30.0%
Gross Profit  31,959   56.0%  28,004   58.0%  15,182   54.4%            
Selling and distribution expenses  -36,793   -64.5%  -37,389   -77.5%  -27,504   -98.5%            
Contribution Profit (1)  -4,834   -8.5%  -9,385   -19.4%  -12,322   -44.1%            
                                     
Revenues by Geography                                    
EMEA  29,443   51.6%  23,154   48.0%  12,222   43.8%  -21.4%  -47.2%  -35.6%
North America  13,195   23.1%  11,981   24.8%  8,608   30.8%  -9.2%  -28.2%  -19.2%
Greater China  11,092   19.4%  9,527   19.7%  3,778   13.5%  -14.1%  -60.3%  -41.6%
Other  3,322   5.8%  3,610   7.5%  3,324   11.9%  8.7%  -7.9%  0.0%
                                     
Revenues by Channel                                    
DTC  26,780   46.9%  24,072   49.9%  15,846   56.7%  -10.1%  -34.2%  -23.1%
Wholesale  23,022   40.4%  17,639   36.5%  6,737   24.1%  -23.4%  -61.8%  -45.9%
Other  7,250   12.7%  6,561   13.6%  5,349   19.2%  -9.5%  -18.5%  -14.1%

 

 

 

 

Wolford Brand Key Financials(3)

 

(€in thousands, unless otherwise noted)

 

Wolford Brand  2023   2024   2025   24 H1
v
   25 H1
v
  

23 H1 –
25 H1

 
Key Financials  H1   %   H1   %   H1   %   23 H1   24 H1   CAGR 
Key Financials on P&L                                    
Revenues  58,802   100.0%  42,594   100.0%  32,985   100.0%  -27.6%  -22.6%  -25.1%
Gross Profit  42,062   71.5%  26,795   62.9%  18,504   56.1%            
Selling and distribution expenses  -38,128   -64.8%  -34,916   -82.0%  -27,999   -84.9%            
Contribution Profit (1)  3,934   6.7%  -8,121   -19.1%  -9,495   -28.8%            
                                     
Revenues by Geography                                    
EMEA  40,083   68.2%  26,453   62.1%  21,179   64.2%  -34.0%  -19.9%  -27.3%
North America  14,224   24.2%  12,747   29.9%  8,756   26.5%  -10.4%  -31.3%  -21.5%
Greater China  4,107   7.0%  3,274   7.7%  2,829   8.6%  -20.3%  -13.6%  -17.0%
Other  388   0.7%  120   0.3%  220   0.7%  -69.1%  83.3%  -24.7%
                                     
Revenues by Channel                                    
DTC  39,453   67.1%  33,812   79.4%  21,940   66.5%  -14.3%  -35.1%  -25.4%
Wholesale  18,665   31.7%  8,715   20.5%  9,946   30.2%  -53.3%  14.1%  -27.0%
Other  684   1.2%  67   0.2%  1,099   3.3%  -90.2%  NM   NM 

 

 

 

 

Sergio Rossi Brand Key Financials(3)

 

(€in thousands, unless otherwise noted)

 

Sergio Rossi           24 H1   25 H1   23 H1 – 
Brand Key  2023   2024   2025   v   v   25 H1 
Financials  H1   %   H1   %   H1   %   23 H1   24 H1   CAGR 
Key Financials on P&L                                    
Revenues  33,019   100.0%  20,404   100.0%  15,314   100.0%  -38.2%  -24.9%  -31.9%
Gross Profit  17,135   51.9%  10,218   50.1%  6,255   40.8%            
Selling and distribution expenses  -11,355   -34.4%  -9,490   -46.5%  -7,755   -50.6%            
Contribution Profit (1)  5,780   17.5%  728   3.6%  -1,500   -9.8%            
                                     
Revenues by Geography                                    
EMEA  18,509   56.0%  9,528   46.7%  7,150   46.7%  -48.5%  -25.0%  -37.8%
North America  846   2.6%  281   1.4%  56   0.4%  -66.8%  -80.1%  -74.3%
Greater China  6,350   19.2%  4,174   20.5%  2,734   17.9%  -34.3%  -34.5%  -34.4%
Other  7,315   22.2%  6,420   31.5%  5,374   35.1%  -12.2%  -16.3%  -14.3%
                                     
Revenues by Channel                                    
DTC  16,847   51.0%  13,976   68.5%  11,005   71.9%  -17.0%  -21.3%  -19.2%
Wholesale  16,172   49.0%  6,428   31.5%  4,308   28.1%  -60.3%  -33.0%  -48.4%
Other  0   0.0%  0   0.0%  0   0.0%  NM   NM   NM 

 

 

 

 

St. John Brand Key Financials(3)

 

(€in thousands, unless otherwise noted)

 

St. John Brand 2023  2024  2025  24 H1
v
  25 H1
v
  23 H1 –
25 H1
 
Key Financials %  H1  %  %  H1  %  23 H1  24 H1  CAGR 
Key Financials on P&L                                     
Revenues  46,663   100.0%  39,981   100.0%  39,654   100.0%   -14.3%  -0.8%  -7.8%
Gross Profit  29,024   62.2%  27,696   69.3%  27,251   68.7%             
Selling and distribution expenses  -23,719   -50.8%  -23,036   -57.6%  -22,781   -57.4%             
Contribution Profit (1)  5,305   11.4%  4,660   11.7%  4,470   11.3%             
                                      
Revenues by Geography                                     
EMEA  731   1.6%  299   0.7%  176   0.4%   -59.1%  -41.1%  -50.9%
North America  41,585   89.1%  37,316   93.3%  38,737   97.7%   -10.3%  3.8%  -3.5%
Greater China  4,251   9.1%  2,247   5.6%  653   1.6%   -47.1%  -70.9%  -60.8%
Other  95   0.2%  119   0.3%  87   0.2%   24.8%  -26.9%  -4.3%
                                      
Revenues by Channel                                     
DTC  37,760   80.9%  32,161   80.4%  31,011   78.2%   -14.8%  -3.6%  -9.4%
Wholesale  8,828   18.9%  7,704   19.3%  8,555   21.6%   -12.7%  11.0%  -1.6%
Other  75   0.2%  116   0.3%  87   0.2%   55.3%  -25.0%  7.7%

 

 

 

 

Caruso Brand Key Financials(3)

 

(€in thousands, unless otherwise noted)

 

Caruso Brand Key 2023  2024  2025  24 H1
v
  25 H1
v
  23 H1 –
25 H1
 
Financials H1  %  H1  %  H1  %  23 H1  24 H1  CAGR 
Key Financials on P&L                                    
Revenues  19,926   100.0%  19,734   100.0%  17,627   100.0%  -1.0%  -10.7%  -5.9%
Gross Profit  5,233   26.3%  5,724   29.0%  5,082   28.8%            
Selling and distribution expenses  -842   -4.2%  -936   -4.7%  -1,108   -6.3%            
Contribution Profit (1)  4,391   22.0%  4,788   24.3%  3,974   22.5%            
                                     
Revenues by Geography                                    
EMEA  16,260   81.6%  16,795   85.1%  15,037   85.3%  3.3%  -10.5%  -3.8%
North America  2,674   13.4%  2,003   10.1%  2,147   12.2%  -25.1%  7.2%  -10.4%
Greater China  32   0.2%  18   0.1%  6   0.0%  -43.4%  -66.7%  -56.7%
Other  960   4.8%  918   4.7%  436   2.5%  -4.4%  -52.5%  -32.6%
                                     
Revenues by Channel                                    
DTC  0   0.0%  31   0.2%  63   0.4%  NM   NM   NM 
Wholesale  19,926   100.0%  19,703   99.8%  17,563   99.6%  -1.1%  -10.9%  -6.1%
Other  0   0.0%  0   0.0%  0   0.0%  NM   NM   NM 

 

 

 

 

Lanvin Group Brand Footprint

 

   Jun 2024   Dec 2024   Jun 2025 
DOS by Brand  DOS (4)   DOS (4)   DOS (4) 
Lanvin   37    33    29 
Wolford   140    112    97 
St. John   42    37    35 
Sergio Rossi   47    43    37 
Caruso   0    0    0 
Total   266    225    198 

 

 

 

 

Non-IFRS Financial Measures Reconciliation

 

(€in Thousands, unless otherwise noted)

 

   2023   2024   2025 
Reconciliation of Contribution Profit  H1   H1   H1 
Revenue   214,537    170,976    133,395 
Cost of sales   -89,083    -72,598    -61,490 
Gross Profit   125,454    98,378    71,905 
Marketing and selling expenses   -110,600    -105,591    -87,093 
Contribution Profit (1)   14,854    -7,213    -15,188 
General and administrative expenses   -76,544    -58,065    -56,754 
Adjusted Operating Profit (1)   -61,690    -65,278    -71,942 
                

 

   2023   2024   2025 
Reconciliation of Adjusted EBIT  H1   H1   H1 
Loss for the period   -72,225    -69,376    -86,784 
Add / (Deduct) the impact of:               
Income tax expenses   271    -489    -208 
Finance cost—net   11,970    13,187    12,806 
Non-underlying items   -9,666    -3,143    -6,545 
Loss from operations before non-underlying items   -69,650    -59,821    -80,731 
Add / (Deduct) the impact of:               
Share based compensation   1,971    827    237 
Adjusted EBIT (1)   -67,679    -58,994    -80,494 

 

   2023   2024   2025 
Reconciliation of Adjusted EBITDA  H1   H1   H1 
Loss from operations before non-underlying items   -69,650    -59,821    -80,731 
D&A post IFRS16   21,518    22,456    21,311 
Provision and impairment losses   -3,241    -2,220    -3,049 
FX losses / (gain)   8,486    -3,353    10,302 
Share based compensation   1,971    827    237 
Adjusted EBITDA (1)   -40,916    -42,111    -51,930 

 

 

Note:

(1)These are Non-IFRS Financial Measures and will be mentioned throughout this communication. Please see Non-IFRS Financial Measures and Definition.

(2)The amount less than Euro 1,000 is indicated with "*”.

(3)Brand-level results are presented exclusive of eliminations. Numbers may not sum precisely due to rounding.

(4)DOS refers to Directly Operated Stores which include boutiques, outlets, concession shop-in-shops and pop-up stores.

 

 

 

 

Non-IFRS Financial Measures and Definitions

 

Our management monitors and evaluates operatingand financial performance using several non-IFRS financial measures including: Contribution Profit, Contribution Profit Margin, AdjustedOperating Profit, Adjusted EBIT and Adjusted EBITDA. Our management believes that these non-IFRS financial measures provide useful andrelevant information regarding our performance and improve their ability to assess financial performance and financial position. Theyalso provide comparable measures that facilitate management’s ability to identify operational trends, as well as make decisionsregarding future spending, resource allocations and other operational decisions. While similar measures are widely used in the industryin which we operate, the financial measures that we use may not be comparable to other similarly named measures used by other companiesnor 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 revenueless the cost of sales and selling and marketing expenses. Contribution Profit subtracts the main variable expenses of selling and marketingexpenses 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 foreignexchange gains or losses and impairment losses). As we continue to improve the management of our portfolio brands, we believe we canachieve 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 definedas Contribution Profit divided by revenue.

 

Adjusted Operating Profit is defined asContribution Profit margin less General and administrative expenses

 

Adjusted EBIT is defined as profit orloss before income taxes, net finance cost, share based compensation, adjusted for income and costs which are significant in nature andthat 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.

 

Adjusted EBITDA is defined as profit orloss before income taxes, net finance cost, exchange gains/(losses), depreciation, amortization, share based compensation and provisionsand impairment losses adjusted for income and costs which are significant in nature and that management considers not reflective of underlyingoperational activities, mainly including net gains on disposal of long-term assets,gain on debt restructuring and government grants.

 

 

 

Exhibit 99.2

GRAPHIC

August 29, 2025

GRAPHIC

2Forward-Looking StatementsThis presentation, including the sections “2025 First Half Achievements”, “2025 Outlook”, “Brand-Level Performance” and “Appendix”, contain “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,” “guidance,” “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 presentation, 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 the six months ended June 30, 2025; 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 businesses; 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 presentation. 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 presentation. Accordingly, reliance should not be placed upon the forward-looking statements. Use of Non-IFRS Financial MetricsThis presentation includes certain non-IFRS financial measures (including on a forward-looking basis) 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 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 in 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.

GRAPHIC

GRAPHIC

Persistent global macroeconomic headwindsBrand performance tempered by creative transitions and market softnessSt. John grew in North America despite sector volatility and geopolitical uncertaintyStrong cost discipline and footprint optimization delivered visible Q2 improvements

GRAPHIC

5FIRST HALF ACHIEVEMENTS • Made its grand return to Paris Fashion Week in January with Peter Copping’s debut collection • Earned strong global media acclaim for its timeless French elegance and savoir-faire • Launched “In Your Own Skin campaign”, reinforcing its Essentials positioning • Completed capital increase to fortify financial foundations and support strategic transformation • Introduced Pre-Fall 2025 collection reviving St. John’s most iconic archival designs • Collaborated with golf fashion brand Malbon to launch a sport-luxe golf capsule, blending classic knitwear craftsmanship with modern golf aesthetics • New AAA fashion maisonaccount gained while maintain strong relationship with existing clients • Successful showcasing at Pitti Uomo with great press coverage; led to new business development • Unveiled first collection under Paul Andrew, merging shoemaking tradition with modern materials and design innovations • Positioned for fresh commercial traction as the collection enters the market in H2 2025

GRAPHIC

6New brand managers to strengthen leadership and drive strategic executionContinue to drive cost-efficiency by streamlining operations and reviewing retail footprintClose monitor and protect free cash flow with disciplined working capital managementTargeted marketing to boost traffic and conversion rate ahead of new director’s debutLaunch of new designers’ collections in H2, injecting strong growth momentum6DRIVE COST-EFFICIENCY INITIATIVES

GRAPHIC

(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions. 7H1 25Global RevenueH1 25 North America Revenue GrowthH1 25 Global Revenue Growth H1 25 vs. H1 24Contribution Profit %(1) ChangeH1 25 vs. H1 24Gross Profit % ChangeH1 25 vs. H1 24Adj. EBITDA %(1) Period-over-Period Change

GRAPHIC

Note: Brand-level results are presented exclusive of eliminations. 8 € 6 € 92025 Q1 2025 Q2DTC revenue growth+46%49%65%2025 Q1 2025 Q2Gross Profit % growth+1,673bps € 5 € 62025 Q1 2025 Q2DTC revenue growth+16% € 8 € 92025 Q1 2025 Q2Revenue growth+11%52%57%2025 Q1 2025 Q2Gross Profit % growth+539bpsMOST BRANDS SHOWED SIGNS OF RECOVERY IN Q2, WHILE ST. JOHN MAINTAINED SOLID PERFORMANCE THROUGHOUT H1

GRAPHIC

9 FIRST HALF REVENUE WAS IMPACTED BY MACROECONOMIC TRENDS AND CHALLENGES INDUSTRY WIDE Note: Numbers may not sum precisely due to rounding. • Ongoing macro and industry context was leading driver of revenue decline • Additions of new creative talent at Lanvin andSergio Rossi to drive growth in H2 2025 • Wolford in recovery after the shipment impact last year H1 2021 H1 2022 H1 2024 EliminationsH1 2023 € 117 € 202 € 215 € 171 H1 2025 € 133 - € 20 - € 10 - € 5 - € 0 - € 2 - €0

GRAPHIC

10 € 171-€ 24-€ 13 € 0 € 133H1 24 DTC Wholesale Other H1 25 € 171-€ 20-€ 6-€ 10 -€ 2 € 133H1 24 EMEA North America Greater China Other H1 25Note: Numbers may not sum precisely due to rounding.(1) Other includes: Japan, South Korea, Thailand, Malaysia, Vietnam, Indonesia, Philippines, Australia, New Zealand, India and other Southeast Asian countries.41.5%43.7%7.7%7.1%NorthAmerica-9.4%EMEA-26.8%GreaterChina-48.2%Other(1)-15.6%60.0%35.1%4.9%Other(1)-4.1%DTC-23.4%Wholesale-21.5%

GRAPHIC

11 • Gross Profit Margin with 4% reduction due to sell-through of prior-season inventory, underutilized capacity and changes in product mix • Contribution profit(1) continued to be impacted by revenue decline; brands took measures to reallocate marketing investments to improve ROI • All brands pushed G&A cost-reduction measures to offset market weakness • Adjusted EBITDA(1) decreased 23% to -€52 million from -€42 million due to negative operational leverage resulting from lower revenue(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.GP% 51.8%CHANGE IN GROUP’S GROSS PROFIT AND CONTRIBUTION PROFIT MARGINS55.9% 58.5% 57.5% CP% -8.7% 2.9% 6.9% -4.2% Adj. EBITDA% -30.7% -17.6% -19.1% -24.6% € 61 € 113 € 125 € 98 € 72H1 21 H1 22 H1 23 H1 24 H1 2553.9%-€ 10 € 6 € 15-€ 7-€ 15H1 21 H1 22 H1 23 H1 24 H1 25-11.4%-€ 36 -€ 36-€ 41-€ 42-€ 52H1 21 H1 22 H1 23 H1 24 H1 25-39.0%

GRAPHIC

12 € 71 € 107 € 111 € 106 € 87 € 55 € 76 € 77 € 58 € 57020406080100120140160180200H1 2021 H1 2022 H1 2023 H1 2024 H1 2025G&A expenses(€ in mm) Marketing and selling expenses(€ in mm) € 126 € 183 € 188 € 164 € 144Note: Numbers may not sum precisely due to rounding.(1) H1 2021 Group-level financials did not include Sergio Rossi.% of Revenue 107.4% 90.5% 87.2% 95.7%(1)107.8%

GRAPHIC

Note: Brand-level results are presented exclusive of eliminations. 13 € 20 € 16 € 11 € 14 € 5 € 14 € 14 € 10 € 11 € 4 € 17 € 12 € 8 € 9 € 40510152025H1 2023 G&A expenses (€ in mm) H1 2024 G&A expenses (€ in mm)H1 2025 G&A expenses (€ in mm)-15% -27% -25% -35% -8% Improvement Since H1 2023

GRAPHIC

14Note: DOS as of 31st December 2024 and 30th June 2025 and refers to Directly Operated Stores which include shop-in-shop, retail, outlet & pop-up stores.Numbers may not sum precisely due to rounding.ONGOING UPGRADE OF STORE NETWORK, WITH DISCIPLINED NEW OPENINGS AND UNDERPERFORMING LOCATIONS RATIONALIZATIONLanvin Group DOS Evolution by Brand Lanvin Group DOS Evolution by Region FY2024Total ClosuresH1 2025225 1 0 0 1-29198225 1 0 0 1-29198FY2024EMEA NorthAmericaGreaterChinaOther AsiaTotal ClosuresH1 2025

GRAPHIC

15Implement action plan to further reduce costs and improve marginsTactical approach to marketing and footprint review; focusing on ROIBuild brand story and desirability at Lanvin and Sergio Rossi with new creative characters 15DRIVE COST-EFFICIENCIES, MARKETING OPTIMIZATION AND BRAND ENHANCEMENT

GRAPHIC

GRAPHIC

17(1) Non-IFRS Financial Measure. Please see Page 35 for Non-IFRS Financial Measures and Definitions. Note: Brand-level results are presented exclusive of eliminations. H1 Results • Revenue declined 42% due to weak wholesale in EMEA, as industry sentiment remained cautious and clients awaited new collection – EMEA retail remained resilient while APAC recalibrated as part of strategic refocus plan – North American e-commerce rebounded with successful launch of Marketplace • Gross margin decreased by 366 bps, impacted by product mix and network rationalization • Diligent cost-saving initiatives cushioned the revenue impact; continued investment in Peter’s collection—integral to long-term vision—temporarily weighed on contribution profitLanvin Key Financials(€ in Thousands) H1 24 H1 25Revenue €48,272 €27,932YoY% -15.4% -42.1%Gross Profit €28,004 €15,182GP Margin% 58.0% 54.4%Contribution Profit (1)-€9,385 -€12,322CP Margin% -19.4% -44.1%H2 initiatives • Launch global marketing campaign for debut collection, amplifying reach through targeted social media engagement and e-commerce activations • Drive in-store traffic and conversion with refreshed visual merchandising and localized clienteling events • Continue to maintain cost discipline, reinvesting savings into product innovation, flagship stores, and strategic marketplace partnerships

GRAPHIC

18Wolford Key Financials(€ in Thousands) H1 24 H1 25Revenue €42,594 €32,985YoY% -27.6% -22.6%Gross Profit €26,795 €18,504GP Margin% 62.9% 56.1%Contribution Profit (1)-€8,121 -€9,495CP Margin% -19.1% -28.8%18(1) Non-IFRS Financial Measure. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. H1 Results • Revenue down 23% reflecting residual impact from 3PL transition in the past fiscal year − Wholesale demonstrated strong growth with 14% increase in sales in 2025 H1 − DTC decreased by 35% as the brand is in process of optimizing retail network • Gross margin decreased due to under absorption of fixed production costs and excess stock liquidation to improve inventory management • Despite drop in revenue, administrative expenses were down 18% H2 initiatives • Appointment of Marco Pozzo as Deputy CEO in July to implement sustainable cost model, transform supply chain and distribution • Celebrate its 75th anniversary with a significant brand push, focusing on hero products to optimize product assortment • Explore opportunities in emerging markets such as Middle East and APAC

GRAPHIC

19Sergio Rossi Key Financials(€ in Thousands) H1 24 H1 25Revenue €20,404 €15,314YoY% -38.2% -24.9%Gross Profit €10,218 €6,255GP Margin% 50.1% 40.8%Contribution Profit (1) €728 -€1,500CP Margin% 3.6% -9.8%19(1) Non-IFRS Financial Measure. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. H1 Results • Revenue declined 25%, with DTC decreased by 21% and Wholesale decreased by 33% − Paul Andrew’s first collection (FW2025) will debut in H2 2025, while customers remained cautious about the SS2025 collection released in H1 2025 − Q2 2025 saw a strong recovery in retail (+17% QoQ) and e-commerce (+10% QoQ) • Gross Margin decreased by 9% due to markdown related to product mix change and underutilization of production capacity • Contribution Profit Margin(1) declined due to lower revenue, but partially offset by reduced absolute expenses through effective cost controlH2 initiatives • Expand wholesale channel and proactively seek new wholesale partners • Continue to drive continuous cost control and improve operational efficiency • Reinvigorate Sergio Rossi brand through Paul Andrew’s new collections • Reinforce brand presence in core regions and expand into the US market

GRAPHIC

20St. John Key Financials(€ in Thousands) H1 24 H1 25Revenue €39,981 €39,654YoY% -14.3% -0.8%Gross Profit €27,696 €27,251GP Margin% 69.3% 68.7%Contribution Profit (1) €4,660 €4,470CP Margin% 11.7% 11.3%20(1) Non-IFRS Financial Measure. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. H1 Results • Revenue remained flat, despite market volatility and geopolitical uncertainty − North America, which accounted for 98% of revenue in H1 2025, saw a 4% growth in revenue, demonstrating its strong resilience in the core market − Wholesale channel rose 11%, reflecting the brand's successful development of strategic key account partnerships • Gross Margin remained stable at 69%, thanks to consistent full-price sell-through and strong growth from the wholesale model with Nordstrom • Contribution Profit Margin(1) was also steady, slightly dropping by 38bps H2 initiatives • Continue to refine the key channels to improve conversion and boost sales, and stimulate e-comm channel with the onboarding of new team members • Create a seamless product mix through enhanced design and merchandising process • Optimize the supplier mix to mitigate geopolitical risks and improve cost-efficiency

GRAPHIC

21Caruso Key Financials(€ in Thousands) H1 24 H1 25Revenue €19,734 €17,627YoY% -1.0% -10.7%Gross Profit €5,724 €5,082GP Margin% 29.0% 28.8%Contribution Profit (1) €4,788 €3,974CP Margin% 24.3% 22.5%21(1) Non-IFRS Financial Measure. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. H1 Results • Revenue declined by 11% due to a challenging global luxury and wholesale market − slowdown in Maisons business due to a general reset phase in the luxury market, delivery calendar shift, and related production adjustments − Caruso brand FW25 order intake showing continued growth • Gross Profit Margin stayed resilient due to improved results in Q2 2025 • Contribution Profit(1) slightly decreased amid the prevailing market headwindsH2 initiatives • Support the relaunch of select AAA Maison lines through collaborations with their new creative directors • Acquiring new Caruso wholesale accounts in expanding markets (USA, Benelux, DACH) • Continue to optimize cost structure to improve operational efficiency

GRAPHIC

GRAPHIC

23Note: Numbers may not sum precisely due to rounding.(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.(€ in Thousands, unless otherwise noted)H 1 % H 1 % H 1 % H 1 %Revenue 201,700 100.0% 214,537 100.0% 170,976 100.0% 133,395 100.0%Cost of sales -88,957 -44.1% -89,083 -41.5% -72,598 -42.5% -61,490 -46.1%Gross profit 112,743 55.9% 125,454 58.5% 98,378 57.5% 71,905 53.9%Marketing and selling expenses -106,810 -53.0% -110,600 -51.6% -105,591 -61.8% -87,093 -65.3%General and administrative expenses -75,771 -37.6% -76,544 -35.7% -58,065 -34.0% -56,754 -42.5%Other operating income and expenses 8,378 4.2% -7,960 -3.7% 5,457 3.2% -8,789 -6.6%Loss from operations before non-underlying items -61,460 -30.5% -69,650 -32.5% -59,821 -35.0% -80,731 -60.5%Non-underlying items 570 0.3% 9,666 4.5% 3,143 1.8% 6,545 4.9%Loss from operations -60,890 -30.2% -59,984 -28.0% -56,678 -33.1% -74,186 -55.6%Finance cost – net -8,080 -4.0% -11,970 -5.6% -13,187 -7.7% -12,806 -9.6%Loss before income tax -68,970 -34.2% -71,954 -33.5% -69,865 -40.9% -86,992 -65.2%Income tax (expenses) / benefits 256 0.1% -271 -0.1% 489 0.3% 208 0.2%Loss for the year -68,714 -34.1% -72,225 -33.7% -69,376 -40.6% -86,784 -65.1%Contribution profit (1) 5,933 2.9% 14,854 6.9% -7,213 -4.2% -15,188 -11.4%Adjusted Operating Profit (1) -69,838 -34.6% -61,690 -28.8% -65,278 -38.2% -71,942 -53.9%Adjusted EBIT (1) -57,163 -28.3% -67,679 -31.5% -58,994 -34.5% -80,494 -60.3%Adjusted EBITDA (1) -35,519 -17.6% -40,916 -19.1% -42,111 -24.6% -51,930 -38.9%2025 Lanvin Group Consolidated P&L 2022 2023 2024

GRAPHIC

Note: Amounts less than €1,000 is indicated with "*". Numbers may not sum precisely due to rounding. 24(€ in Thousands, unless otherwise noted)2024 2025FY H 1AssetsNon-current assetsIntangible assets 213,501 211,978Goodwill 38,115 38,115Property, plant and equipment 39,440 33,976Right-of-use assets 131,597 112,036Deferred income tax assets 11,598 11,788Other non-current assets 14,869 11,953449,120 419,846Current assetsInventories 89,712 74,016Trade receivables 28,099 23,943Other current assets 29,112 37,756Cash and bank balances 18,043 29,723164,966 165,438Total assets 614,086 585,284Lanvin Group Consolidated Balance Sheet(€ in Thousands, unless otherwise noted)2024 2025FY H 1LiabilitiesNon-current liabilitiesNon-current borrowings 25,222 10,266Non-current lease liabilities 117,966 100,294Non-current provisions 3,560 3,187Employee benefits 17,240 17,414Deferred income tax liabilities 51,390 51,422Other non-current liabilities 16,005 34,510231,383 217,093Current liabilitiesTrade payables 80,424 56,497Current borrowings 158,540 258,561Current lease liabilities 36,106 32,669Current provisions 1,524 1,304Other current liabilities 139,020 126,980415,614 476,011Total liabilities 646,997 693,104Net assets -32,911 -107,820EquityEquity attributable to owners of the CompanyShare capital * *Treasury shares -46,576 *Other reserves 779,356 725,291Accumulated losses -737,186 -810,340-4,406 -85,049Non- controlling interests -28,505 -22,771Total Deficits -32,911 -107,820Lanvin Group Consolidated Balance Sheet

GRAPHIC

Note: Numbers may not sum precisely due to rounding. 25(€ in Thousands, unless otherwise noted)2023A 2024A 2025AH 1 H 1 H 1Net cash used in operating activities -58,118 -33,483 -69,501Net cash flows (used in) / generated from investing activities -28,531 -3,780 1,879Net cash flows generated from financing activities 26,396 26,646 80,333Net change in cash and cash equivalents -60,253 -10,617 12,711Cash and cash equivalents less bank overdrafts at the beginning of the year 91,749 27,850 18,043Effect of foreign exchange rate changes -649 646 -1031Cash and cash equivalents less bank overdrafts at end of the year 30,847 17,879 29,723Lanvin Group Consolidated Cash Flow

GRAPHIC

26(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. Numbers may not sum precisely due to rounding.(€ in thousands, unless otherwise noted)24 H1 v 25 H1 v 23 H1 - 25 H1H 1 % H 1 % H 1 % 23 H1 A 24 H1 A CAGRKey Financials on P&LRevenues 57,052 100.0% 48,272 100.0% 27,932 100.0% -15.4% -42.1% -30.0%Gross profit 31,959 56.0% 28,004 58.0% 15,182 54.4%Selling and distribution expenses -36,793 -64.5% -37,389 -77.5% -27,504 -98.5%Contribution profit (1) -4,834 -8.5% -9,385 -19.4% -12,322 -44.1%Revenues by GeographyEMEA 29,443 51.6% 23,154 48.0% 12,222 43.8% -21.4% -47.2% -35.6%North America 13,195 23.1% 11,981 24.8% 8,608 30.8% -9.2% -28.2% -19.2%Greater China 11,092 19.4% 9,527 19.7% 3,778 13.5% -14.1% -60.3% -41.6%Other 3,322 5.8% 3,610 7.5% 3,324 11.9% 8.7% -7.9% 0.0%Revenues by ChannelDTC 26,780 46.9% 24,072 49.9% 15,846 56.7% -10.1% -34.2% -23.1%Wholesale 23,022 40.4% 17,639 36.5% 6,737 24.1% -23.4% -61.8% -45.9%Other 7,250 12.7% 6,561 13.6% 5,349 19.2% -9.5% -18.5% -14.1%2025ALanvin Brand Key Financials2023A 2024A

GRAPHIC

27(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. Note: Numbers may not sum precisely due to rounding.(€ in thousands, unless otherwise noted)24 H1 v 25 H1 v 23 H1 - 25 H1H 1 % H 1 % H 1 % 23 H1 A 24 H1 A CAGRKey Financials on P&LRevenues 58,802 100.0% 42,594 100.0% 32,985 100.0% -27.6% -22.6% -25.1%Gross profit 42,062 71.5% 26,795 62.9% 18,504 56.1%Selling and distribution expenses -38,128 -64.8% -34,916 -82.0% -27,999 -84.9%Contribution profit (1) 3,934 6.7% -8,121 -19.1% -9,495 -28.8%Revenues by GeographyEMEA 40,083 68.2% 26,453 62.1% 21,179 64.2% -34.0% -19.9% -27.3%North America 14,224 24.2% 12,747 29.9% 8,756 26.5% -10.4% -31.3% -21.5%Greater China 4,107 7.0% 3,274 7.7% 2,829 8.6% -20.3% -13.6% -17.0%Other 388 0.7% 120 0.3% 220 0.7% -69.1% 83.3% -24.7%Revenues by ChannelDTC 39,453 67.1% 33,812 79.4% 21,940 66.5% -14.3% -35.1% -25.4%Wholesale 18,665 31.7% 8,715 20.5% 9,946 30.2% -53.3% 14.1% -27.0%Other 684 1.2% 67 0.2% 1,099 3.3% -90.2% N M N M2025AWolford Brand Key Financials2023A 2024A

GRAPHIC

28(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. Numbers may not sum precisely due to rounding.(€ in thousands, unless otherwise noted)24 H1 v 25 H1 v 23 H1 - 25 H1H 1 % H 1 % H 1 % 23 H1 A 24 H1 A CAGRKey Financials on P&LRevenues 33,019 100.0% 20,404 100.0% 15,314 100.0% -38.2% -24.9% -31.9%Gross profit 17,135 51.9% 10,218 50.1% 6,255 40.8%Selling and distribution expenses -11,355 -34.4% -9,490 -46.5% -7,755 -50.6%Contribution profit (1) 5,780 17.5% 728 3.6% -1,500 -9.8%Revenues by GeographyEMEA 18,509 56.0% 9,528 46.7% 7,150 46.7% -48.5% -25.0% -37.8%North America 846 2.6% 281 1.4% 5 6 0.4% -66.8% -80.1% -74.3%Greater China 6,350 19.2% 4,174 20.5% 2,734 17.9% -34.3% -34.5% -34.4%Other 7,315 22.2% 6,420 31.5% 5,374 35.1% -12.2% -16.3% -14.3%Revenues by ChannelDTC 16,847 51.0% 13,976 68.5% 11,005 71.9% -17.0% -21.3% -19.2%Wholesale 16,172 49.0% 6,428 31.5% 4,308 28.1% -60.3% -33.0% -48.4%Other 0 0.0% 0 0.0% 0 0.0% N M N M N MSergio Rossi Brand Key Financials2023A 2024A 2025A

GRAPHIC

29(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. Numbers may not sum precisely due to rounding.(€ in thousands, unless otherwise noted)24 H1 v 25 H1 v 23 H1 - 25 H1H 1 % H 1 % H 1 % 23 H1 A 24 H1 A CAGRKey Financials on P&LRevenues 46,663 100.0% 39,981 100.0% 39,654 100.0% -14.3% -0.8% -7.8%Gross profit 29,024 62.2% 27,696 69.3% 27,251 68.7%Selling and distribution expenses -23,719 -50.8% -23,036 -57.6% -22,781 -57.4%Contribution profit (1) 5,305 11.4% 4,660 11.7% 4,470 11.3%Revenues by GeographyEMEA 731 1.6% 299 0.7% 176 0.4% -59.1% -41.1% -50.9%North America 41,585 89.1% 37,316 93.3% 38,737 97.7% -10.3% 3.8% -3.5%Greater China 4,251 9.1% 2,247 5.6% 653 1.6% -47.1% -70.9% -60.8%Other 95 0.2% 119 0.3% 87 0.2% 24.8% -26.9% -4.3%Revenues by ChannelDTC 37,760 80.9% 32,161 80.4% 31,011 78.2% -14.8% -3.6% -9.4%Wholesale 8,828 18.9% 7,704 19.3% 8,555 21.6% -12.7% 11.0% -1.6%Other 75 0.2% 116 0.3% 87 0.2% 55.3% -25.0% 7.7%2023A 2025ASt.John Brand Key Financials2024A

GRAPHIC

30(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.Note: Brand-level results are presented exclusive of eliminations. Numbers may not sum precisely due to rounding.(€ in thousands, unless otherwise noted)24 H1 v 25 H1 v 23 H1 - 25 H1H 1 % H 1 % H 1 % 23 H1 A 24 H1 A CAGRKey Financials on P&LRevenues 19,926 100.0% 19,734 100.0% 17,627 100.0% -1.0% -10.7% -5.9%Gross profit 5,233 26.3% 5,724 29.0% 5,082 28.8%Selling and distribution expenses -842 -4.2% -936 -4.7% -1,108 -6.3%Contribution profit (1) 4,391 22.0% 4,788 24.3% 3,974 22.5%Revenues by GeographyEMEA 16,260 81.6% 16,795 85.1% 15,037 85.3% 3.3% -10.5% -3.8%North America 2,674 13.4% 2,003 10.1% 2,147 12.2% -25.1% 7.2% -10.4%Greater China 32 0.2% 18 0.1% 6 0.0% -43.4% -66.7% -56.7%Other 960 4.8% 918 4.7% 436 2.5% -4.4% -52.5% -32.6%Revenues by ChannelDTC 0 0.0% 31 0.2% 63 0.4% N M N M N MWholesale 19,926 100.0% 19,703 99.8% 17,563 99.6% -1.1% -10.9% -6.1%Other 0 0.0% 0 0.0% 0 0.0% N M N M N M2023A 2025ACaruso Brand Key Financials2024A

GRAPHIC

(1) DOS refers to Directly Operated Stores which include boutiques, outlets, concession shop-in-shops and pop-up stores. 31(1)Jun 2024(2)Dec 2024(1)Jun 2025(2)DOS (1) DOS (1) DOS (1)Lanvin 37 33 29Wolford 140 112 97St. John 42 37 35Sergio Rossi 47 43 37Caruso 0 0 0Total 266 225 198DOS by Brand

GRAPHIC

32Note: Numbers may not sum precisely due to rounding.(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.(€ in Thousands, unless otherwise noted)2023A 2024A 2025AH 1 H 1 H 1Revenue 214,537 170,976 133,395Cost of sales -89,083 -72,598 -61,490Gross profit 125,454 98,378 71,905Marketing and selling expenses -110,600 -105,591 -87,093Contribution profit (1) 14,854 -7,213 -15,188General and administrative expenses -76,544 -58,065 -56,754Adjusted Operating Profit (1) -61,690 -65,278 -71,942Reconciliation of Contribution Profit

GRAPHIC

33Note: Numbers may not sum precisely due to rounding.(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.(€ in Thousands, unless otherwise noted)2023A 2024A 2025AH 1 H 1 H 1Loss for the year -72,225 -69,376 -86,784Add / (Deduct) the impact of:Income tax expenses 271 -489 -208Finance cost—net 11,970 13,187 12,806Non-underlying items -9,666 -3,143 -6,545Loss from operations before non-underlying items -69,650 -59,821 -80,731Add / (Deduct) the impact of:Share based compensation 1,971 827 237Adjusted EBIT (1) -67,679 -58,994 -80,494Reconciliation of Adjusted EBIT

GRAPHIC

34Note: Numbers may not sum precisely due to rounding.(1) These are Non-IFRS Financial Measures and will be mentioned throughout this presentation. Please see Page 35 for Non-IFRS Financial Measures and Definitions.(€ in Thousands, unless otherwise noted)2023A 2024A 2025AH 1 H 1 H 1Loss from operations before non-underlying items -69,650 -59,821 -80,731D&A post IFRS16 21,518 22,456 21,311Provision and impairment losses -3,241 -2,220 -3,049FX losses / (gain) 8,486 -3,353 10,302Share based compensation 1,971 827 237Adjusted EBITDA (1) -40,916 -42,111 -51,930Reconciliation of Adjusted EBITDA

GRAPHIC

35Our 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 Operating Profit is defined as Contribution Profit margin less General and administrative expenses.Adjusted EBIT is defined as profit or loss before income taxes, net finance cost, share based compensation, 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.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.