Resilience of St. John
St. John demonstrated resilience by growing its core North American market by 4% despite the volatility, maintaining a stellar gross margin of 69%, and showing a successful strategic partnership with Nordstrom.
Sequential Improvement in Q2
Most brands showed encouraging signs of recovery in Q2, with Lanvin and Sergio Rossi's D2C revenue growing by 46% and 16% quarter-over-quarter, respectively. Wolford's gross profit margin expanded by 1,673 basis points.
Operational Cost Discipline
The group made significant strides in reducing G&A expenses across brands, with Wolford reducing by 27%, Sergio Rossi by 25%, and St. John by 35%, demonstrating a disciplined approach to operational expense management.
Strategic Creative Transitions
Lanvin and Sergio Rossi are poised for growth in the second half with new creative talent, expected to drive momentum. A global marketing campaign and product innovations are lined up to support this transition.