PARIS — Lanvin, fueled by the creativity of Alber Elbaz, can face the economic crisis “in a healthy way,” said executive vice president Thierry Andretta.
Disclosing fresh financial results to WWD, Andretta said the French fashion firm closed the books on 2008 with operating profits of 6.7 million euros, or $9.9 million euros, and no debt.
Sales advanced 29 percent to 140.4 million euros, or $206.6 million, Andretta said. Dollar figures are converted from euros at average exchange rates for the period.
The gains reflect a retooling of the supply chain, strides in leather goods and a rejuvenated men’s wear business.
Andretta, who joined Lanvin last January from Moschino, said men’s wear would be among the chief growth areas for the brand this year, noting a new shop-in-shop at Bergdorf Goodman’s men’s store is slated to open in October or November.
Starting with the spring/summer 2010 season, Lanvin plans to use only one label for its men’s wear: previously, runway and classic ranges were named differently, he noted.
Ready-to-wear accounted for 79 percent of the men’s business last year, with the balance generated primarily by shoes, along with bags and neckwear. In the women’s division, accessories including bags, shoes and jewelry generated 41 percent of revenues.
On the retail front, Lanvin is refurbishing its Ginza flagship in Tokyo in time for an October unveiling, along with a fashion show and personal appearance by Elbaz, Andretta said.