Lanvin is playing a game of executive musical chairs, and the implications ripple beyond the Parisian runways. Siddhartha Shukla’s departure as deputy CEO, after four years steering the storied house, isn’t just a personnel shift; it’s a signal flare about the pressures facing even established luxury brands in a tightening global market. The timing, just a week after a well-received Paris Fashion Week show – one lauded by Vogue Runway’s Sarah Mower as reminiscent of the Alber Elbaz heyday – suggests a strategic recalibration is underway.
- Shukla oversaw a sales increase from €73 million in 2021 to approximately €120 million in 2023, but recent figures show a dip to around €100 million in 2025.
- The Lanvin Group, which debuted on the New York Stock Exchange in December 2022, has been impacted by China’s economic downturn.
- Andy Lew will continue to oversee the brand and its strategic ambitions, ensuring continuity as he formally takes the helm as CEO in January 2025.
Shukla arrived in December 2021 with a clear mandate: to revitalize a brand that had floundered after the exit of its iconic designer, Alber Elbaz in 2015. He tackled the core elements – brand identity, product strategy, store design – and brought in heavy-hitting collaborators like Steven Meisel and M|M Paris. The appointment of Peter Copping as artistic director in June 2024, aiming for “le chic ultime,” signaled a return to the house’s feminine roots. And, crucially, the brand returned to the Paris Fashion Week calendar.
However, the numbers tell a more complex story. While Shukla demonstrably boosted sales initially, the recent downturn – coupled with the implosion of the sneaker market (a key revenue stream for Lanvin) and store closures, particularly in China – has forced a reckoning. The Lanvin Group’s overall revenue decline of 22% in the first half of 2025, and deepening EBITDA losses, paint a picture of a company navigating turbulent waters. This isn’t simply about Shukla’s performance; it’s about the broader luxury slowdown and the specific challenges of cracking the Chinese market, a challenge the Lanvin Group acknowledged by selling its Italian menswear brand Caruso.
Andy Lew’s continued oversight, as he steps into the CEO role, is the key piece of this puzzle. The messaging – emphasizing “continuity” and “supporting the leadership teams” – is classic corporate PR. It’s designed to reassure investors and maintain a semblance of stability during a period of transition. The move subtly positions Shukla’s departure not as a failure, but as a natural progression, paving the way for Lew to consolidate power and steer the brand through the current economic headwinds. The fact that this announcement follows a positive runway review is no accident; it’s a calculated attempt to highlight the creative momentum while quietly addressing the financial realities.
The next few seasons will be critical for Lanvin. Copping’s vision needs to translate into sustained commercial success, and Lew will need to navigate the complexities of the Chinese market with finesse. The house’s future hinges not just on beautiful dresses, but on a shrewd understanding of the industry’s shifting landscape and a carefully orchestrated PR strategy.
Discover more from Archyworldys
Subscribe to get the latest posts sent to your email.