Lanvin: Sales Drop in 2025 and Departure of Siddharta Shukla

As Lanvin released its figures, it also announced the departure of Deputy CEO Siddharta Shukla after four years of turnaround efforts. This situation is hitting the Lanvin brand hard, with global sales falling to €57.6 million—a decline of nearly 30% year-over-year. The decline reflects continued consumer caution in European and Asian markets, as well as the impact of store closures deemed underperforming by management, particularly in China.

Despite renewed media attention for Lanvin during Paris Fashion Week under the creative direction (since 2024) of designer Peter Copping, the brand is struggling to recapture the momentum of previous years.

The other brands in the group’s portfolio have not been spared. Wolford reported €75.6 million in revenue, down 14%, while the iconic footwear brand Sergio Rossi fell to €29.5 million, a 30% drop compared to 2024. St. John, on the other hand, remained relatively stable at €78.2 million, buoyed by the strength of the North American market.

The 2025 figures were released at the same time as the announcement of the departure of Siddhartha Shukla, previously deputy CEO of Lanvin. Since late 2021, Shukla has led the brand’s transformation and attempted to redefine its identity following years of turbulence.

His departure appears to be the result of both the challenging economic environment and the limitations of the turnaround measures implemented by the group. Shukla had focused on creative renewal and portfolio optimization, but these efforts were not enough to offset the market slowdown and competitive pressures.

Among the factors contributing to the decline in figures are the sale of certain assets, such as the Caruso brand, and the streamlining of the store network, which led to a temporary drop in revenue. In its press release, management emphasizes that these measures are part of a long-term strategy aimed at strengthening operational efficiency and profitability.

The focus will therefore be on optimizing distribution channels, developing e-commerce, and strengthening the creative identity of Lanvin and the group’s other brands.