Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | POS AM |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2022 |
Entity Registrant Name | Lanvin Group Holdings Limited |
Entity Central Index Key | 0001922097 |
Entity Incorporation, State or Country Code | E9 |
Entity Primary SIC Number | 2300 |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Address, Address Line One | 3701-02 |
Entity Address, Address Line Two | Tower S2, Bund Finance Center |
Entity Address, Address Line Three | 600 Zhongshan Rd East No.2 |
Entity Address, City or Town | Shanghai |
Entity Address, Postal Zip Code | 200010 |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | 850 Library Avenue |
Entity Address, Address Line Two | Suite 204 |
Entity Address, City or Town | Newark |
Entity Address, State or Province | DE |
Entity Address, Postal Zip Code | 19711 |
City Area Code | +1 (302) |
Local Phone Number | 738-6680 |
Contact Personnel Name | Puglisi & Associates |
Consolidated Statements of Prof
Consolidated Statements of Profit or Loss - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Profit (loss) [abstract] | |||
Revenue | € 422,312 | € 308,822 | € 222,612 |
Cost of sales | (184,368) | (138,920) | (105,218) |
Gross profit | 237,944 | 169,902 | 117,394 |
Marketing and selling expenses | (224,733) | (165,502) | (151,631) |
General and administrative expenses | (153,138) | (122,497) | (115,181) |
Other operating income and expenses | (2,340) | 10,083 | (18,399) |
Loss from operations before non-underlying items | (142,267) | (108,014) | (167,817) |
Non-underlying items | (83,057) | 45,206 | 43,546 |
Loss from operations | (225,324) | (62,808) | (124,271) |
Finance cost – net | (14,556) | (9,313) | (12,989) |
Loss before income tax | (239,880) | (72,121) | (137,260) |
Income tax benefits / (expenses) | 129 | (4,331) | 1,603 |
Loss for the year | (239,751) | (76,452) | (135,657) |
Attributable to: | |||
- Owners of the Company | (218,290) | (65,354) | (110,761) |
- Non-controlling interests | € (21,461) | € (11,098) | € (24,896) |
Loss per share in Euro | |||
Basic earnings (loss) per share | € (2.15) | € (0.84) | € (1.53) |
Diluted earnings (loss) per share | € (2.15) | € (0.84) | € (1.53) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of comprehensive income [abstract] | |||
Loss for the year | € (239,751) | € (76,452) | € (135,657) |
Items that may be subsequently reclassified to profit or loss | |||
- Currency translation differences, net of tax | (1,616) | (7,612) | 6,671 |
Items that will not be subsequently reclassified to profit or loss | |||
- Employee benefit obligations: change in value resulting from actuarial gains/(losses), net of tax | 1,813 | (438) | (307) |
Total comprehensive loss for the year | (239,554) | (84,502) | (129,293) |
Attributable to: | |||
- Owners of the Company | (218,040) | (72,114) | (106,049) |
- Non-controlling interests | € (21,514) | € (12,388) | € (23,244) |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Non-current assets | ||
Intangible assets | € 181,485 | € 181,234 |
Goodwill | 69,323 | 69,323 |
Property, plant and equipment | 46,801 | 40,564 |
Right-of-use assets | 121,731 | 118,775 |
Deferred income tax assets | 17,297 | 17,070 |
Other non-current assets | 15,265 | 15,742 |
Non-current assets | 451,902 | 442,708 |
Current assets | ||
Inventories | 109,094 | 92,335 |
Trade receivables | 48,868 | 39,781 |
Other current assets | 30,467 | 41,706 |
Cash and bank balances | 91,897 | 88,981 |
Current assets | 280,326 | 262,803 |
Total assets | 732,228 | 705,511 |
Non-current liabilities | ||
Non-current borrowings | 18,115 | 11,212 |
Non-current lease liabilities | 105,986 | 102,987 |
Non-current provisions | 4,111 | 4,166 |
Employee benefits | 15,128 | 18,464 |
Deferred income tax liabilities | 54,660 | 54,179 |
Other non-current liabilities | 690 | 1,080 |
Non-current liabilities | 198,690 | 192,088 |
Current liabilities | ||
Trade payables | 73,114 | 58,151 |
Bank overdrafts | 148 | 14 |
Current borrowings | 15,370 | 55,559 |
Current lease liabilities | 34,605 | 37,072 |
Current provisions | 3,014 | 3,141 |
Other current liabilities | 106,481 | 68,660 |
Current liabilities | 232,732 | 222,597 |
Total liabilities | 431,422 | 414,685 |
Net assets | 300,806 | 290,826 |
Equity attributable to owners of the Company | ||
Share capital | 339,259 | |
Treasury shares | (25,023) | (3) |
Other reserves | 762,961 | 149,460 |
Accumulated losses | (442,618) | (224,328) |
Equity attributable to owners of the Company | 295,320 | 264,388 |
Non- controlling interests | 5,486 | 26,438 |
Total equity | € 300,806 | € 290,826 |
Consolidated Statements of Fi_2
Consolidated Statements of Financial Position (Parenthetical) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Statements of Financial Position [Line Items] | ||
Share capital | € 339,259 | |
Bottom of range [member] | ||
Statements of Financial Position [Line Items] | ||
Share capital | € 1,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating activities | |||
Loss for the year | € (239,751) | € (76,452) | € (135,657) |
Adjustments for: | |||
Income tax benefits / (expenses) | (129) | 4,331 | (1,603) |
Depreciation and amortization | 45,810 | 41,584 | 48,332 |
Provisions and impairment losses | 16,729 | 10,766 | 22,676 |
Employee share-based compensation | 7,431 | 7,208 | 5,389 |
Negative goodwill from acquisition of a subsidiary | 0 | (7,896) | 0 |
Gain on the debt restructuring | 0 | (7,380) | 0 |
Net gains on disposals | (964) | (24,014) | (40,307) |
Finance costs | 13,742 | 8,564 | 12,497 |
Share listing and associated expenses | 84,193 | 0 | 0 |
Fair value movement in warrants | 1,132 | 0 | 0 |
Change in inventories | (28,514) | (11,890) | 3,292 |
Change in trade receivables | (10,541) | (11,275) | 3,018 |
Change in trade payables | 14,963 | 1,298 | 9,714 |
Change in other operating assets and liabilities | 15,237 | (7,076) | (13,046) |
Income tax paid | (189) | (856) | (1,602) |
Net cash used in operating activities | (80,851) | (73,088) | (87,297) |
Investing activities | |||
Payment for the purchase of property, plant and equipment, intangible assets and other long-term assets | (24,703) | (9,876) | (5,679) |
Proceeds from disposal of property, plant and equipment, intangible assets and other long-term assets | 2,904 | 25,115 | 72,717 |
Acquisition of a subsidiary, net of cash acquired | 0 | (8,893) | 0 |
Net cash (used in) / generated from investing activities | (21,799) | 6,346 | 67,038 |
Financing activities | |||
Proceeds from shareholders' capital injection | 0 | 92,180 | 24,279 |
Proceeds from the Reverse Recapitalization | 183,426 | 0 | 0 |
Payments of transaction costs related to the Reverse Recapitalization | (11,217) | 0 | 0 |
Proceeds from financing fund | 24,022 | 0 | 0 |
Proceeds from borrowings | 190,729 | 176,174 | 92,408 |
Repayments of borrowings | (225,017) | (116,587) | (113,149) |
Repayments of lease liabilities | (34,706) | (35,105) | (33,871) |
Payment of borrowings Interest | (15,808) | (1,521) | (3,327) |
Payment of lease liabilities interest | (6,658) | (5,586) | (7,730) |
Capital contribution from non-controlling interests | 172 | 1,610 | 667 |
Changes in ownership interest in a subsidiary without change of control | (6) | (1,100) | (724) |
Net cash generated from / (used in) financing activities | 104,937 | 110,065 | (41,447) |
Net change in cash and cash equivalents | 2,287 | 43,323 | (61,706) |
Cash and cash equivalents less bank overdrafts at the beginning of the year | 88,658 | 44,171 | 106,642 |
Effect of foreign exchange differences on cash and cash equivalents | 804 | 1,164 | (765) |
Cash and cash equivalents less bank overdrafts at the end of the year | € 91,749 | € 88,658 | € 44,171 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - EUR (€) € in Thousands | Total | Issued capital [member] | Treasury shares [member] | Other Reserves [member] | Accumulated losses [member] | Total [member] | Non-controlling interests [member] |
Opening Balance at Dec. 31, 2019 | € 323,467 | € 265,731 | € 0 | € 44,607 | € (48,213) | € 262,125 | € 61,342 |
Comprehensive loss | |||||||
Loss for the year | (135,657) | (110,761) | (110,761) | (24,896) | |||
Currency translation difference | 6,671 | 4,893 | 4,893 | 1,778 | |||
Net actuarial losses from defined benefit plans | (307) | (181) | (181) | (126) | |||
Total comprehensive loss for the year | (129,293) | 4,712 | (110,761) | (106,049) | (23,244) | ||
Transactions with owners | |||||||
Capital injection from shareholders | 47,713 | 23,434 | 24,279 | 47,713 | |||
Employee share-based compensation | 5,389 | 5,389 | 5,389 | ||||
Debt forgiveness by shareholder | 3,176 | 3,176 | 3,176 | ||||
Capital contribution from non-controlling interests | 667 | 119 | 119 | 548 | |||
Changes in ownership interest in a subsidiary without change of control | (724) | (1,084) | (1,084) | 360 | |||
Total transactions with owners | 56,221 | 23,434 | 31,879 | 55,313 | 908 | ||
Closing Balance at Dec. 31, 2020 | 250,395 | 289,165 | 0 | 81,198 | (158,974) | 211,389 | 39,006 |
Comprehensive loss | |||||||
Loss for the year | (76,452) | (65,354) | (65,354) | (11,098) | |||
Currency translation difference | (7,612) | (6,355) | (6,355) | (1,257) | |||
Net actuarial losses from defined benefit plans | (438) | (405) | (405) | (33) | |||
Total comprehensive loss for the year | (84,502) | (6,760) | (65,354) | (72,114) | (12,388) | ||
Transactions with owners | |||||||
Capital injection from shareholders | 117,215 | 50,091 | 67,124 | 117,215 | |||
Employee share-based compensation | 7,208 | 3 | (3) | 7,208 | 7,208 | ||
Capital contribution from non-controlling interests | 1,610 | 566 | 566 | 1,044 | |||
Changes in ownership interest in a subsidiary without change of control | (1,100) | 124 | 124 | (1,224) | |||
Total transactions with owners | 124,933 | 50,094 | (3) | 75,022 | 125,113 | (180) | |
Closing Balance at Dec. 31, 2021 | 290,826 | 339,259 | (3) | 149,460 | (224,328) | 264,388 | 26,438 |
Comprehensive loss | |||||||
Loss for the year | (239,751) | (218,290) | (218,290) | (21,461) | |||
Currency translation difference | (1,616) | (1,011) | (1,011) | (605) | |||
Net actuarial losses from defined benefit plans | 1,813 | 1,261 | 1,261 | 552 | |||
Total comprehensive loss for the year | (239,554) | 250 | (218,290) | (218,040) | (21,514) | ||
Transactions with owners | |||||||
Capital injection from shareholders | 18,569 | (25,023) | 6,454 | ||||
Employee share-based compensation | 7,431 | 7,431 | 7,431 | ||||
Capital contribution from non-controlling interests | 172 | 172 | |||||
Changes in ownership interest in a subsidiary without change of control | (6) | (396) | (396) | 390 | |||
Issuance of ordinary shares upon Reverse Recapitalization, net of issuance costs | 241,937 | (357,828) | 3 | 599,762 | 241,937 | ||
Total transactions with owners | 249,534 | € (339,259) | (25,020) | 613,251 | 248,972 | 562 | |
Closing Balance at Dec. 31, 2022 | € 300,806 | € (25,023) | € 762,961 | € (442,618) | € 295,320 | € 5,486 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Equity (Parenthetical) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Share capital | € 339,259 | |
Bottom of range [member] | ||
Share capital | € 1,000 |
General Information
General Information | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure General Information [Abstract] | |
General information | 1. General information Lanvin Group Holdings Limited (the “Company” or “LGHL”) is domiciled in Cayman Islands, the incorporation number of the Company is 382280 and the registered office is at PO Box 309, Ugland House, Grand Cayman, KY1-1104, The Company was formed to facilitate the public listing and additional capitalization (referred to collectively as the “Reverse Recapitalization”) of Fosun Fashion Group (Cayman) Limited (“FFG”) and its subsidiaries (together referred to as “FFG Group”). FFG Group is the leading global luxury fashion group, managing iconic brands worldwide including French couture house Lanvin, Italian luxury shoemaker Sergio Rossi, Austrian skinwear specialist Wolford, American womenswear brand St. John, and high-end e-commerce, The Reverse Recapitalization (see Notes 6) was effectuated by: • a special purpose acquisition company (“SPAC”) Primavera Capital Acquisition Corporation (“PCAC”), incorporated in the Cayman Islands and listed on the New York Stock Exchange (“NYSE”); and merging on December 14, 2022 (“Closing Date”) with Lanvin Group Heritage I Limited (“Merger Sub 1”), incorporated in the Cayman Islands and a direct wholly owned subsidiary of LGHL; with Merger Sub 1 surviving and remaining as a wholly owned subsidiary of LGHL; • FFG merging on December 14, 2022 with Lanvin Group Heritage II Limited (“Merger Sub 2”), incorporated in the Cayman Islands and a direct wholly owned subsidiary of LGHL; with FFG surviving and becoming a wholly owned subsidiary of LGHL; • FFG merging on December 14, 2022 with Merger Sub 1, with FFG surviving and becoming a wholly owned subsidiary of LGHL; • additional capitalization by way of the issuance of LGHL shares to third party investors on December 14, 2022 pursuant to investment commitments in previously agreed subscription agreements; and • the Company becoming a publicly traded company on NYSE on December 14, 2022. As described in Note 6, the Reverse Recapitalization has been accounted for with PCAC being identified as the “acquired” entity for financial reporting purposes. Accordingly, the Reverse Recapitalization has been accounted for as the equivalent of FFG issuing shares for the net assets of PCAC, accompanied by a recapitalization by third party investors. Therefore, these consolidated financial statements have been presented as a continuation of the FFG Group. |
Basis of Preparation
Basis of Preparation | 12 Months Ended |
Dec. 31, 2022 | |
Basis of preparation [Abstract] | |
Basis of preparation | 2. Basis of preparation 2.1 Statement of compliance with IFRS These consolidated financial statements of the Group have been prepared in compliance with the International Financial Reporting Standards (“IFRS”) as issued by International Accounting Standards Board (“IASB”). These consolidated financial statements were approved and authorized for issue by the Board of Directors of the Group on April 20, 2023. 2.2 Contents and structure of the Consolidated Financial Statements The consolidated financial statements include the consolidated statements of profit or loss, consolidated statements of comprehensive loss, consolidated statements of financial position, consolidated statements of cash flows, consolidated statements of changes in equity and the accompanying notes (the “Consolidated Financial Statements”). The Group has prepared the consolidated statements of financial position presenting separately the current and non-current 2.3 Going concern For the year ended December 31, 2022, the Group has incurred operating losses of Euro225.32 million (2021: Euro62.81 million) and net losses of Euro239.75 million (2021: Euro76.45 million). The Group Management closely monitors the Group’s financial performance and liquidity position. Historically, the Group has been able to obtain debt and equity financing as disclosed in these consolidated financial statements. The Group has funded operations primarily with issuances of preferred shares, long-term debt and net proceeds from revenues. The Consolidated Financial Statements have been prepared on a going concern basis that one of the Group’s shareholders, Fosun International Limited, will continue to provide adequate support for the Group to meet its obligations as they become due for at least 12 months from the issuance date of these financial statements. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary of significant accounting policies | 3. Summary of significant accounting policies 3.1 Changes in accounting policies New Standards and Amendments issued by the IASB and applicable to the Group from January 1, 2022 New IFRS Standards and Amendments to existing standards Effective date IFRS 3 References to the Conceptual Framework January 1, 2022 IAS 16 Proceeds before Intended Use January 1, 2022 IAS 37 Onerous Contracts – Cost of Fulfilling a Contract January 1, 2022 Annual Improvements to IFRS Standards 2018-2020 Cycle January 1, 2022 The introduction of these amendments did not have any effect on these Consolidated Financial Statements. New standards, amendments and interpretations not yet effective At the date of authorization of these consolidated financial statements, several new, but not yet effective, Standards and amendments to existing Standards, and Interpretations have been published by the IASB. None of these Standards or amendments to existing Standards have been adopted early by the Group. New IFRS Standards and Amendments to existing standards Effective date IFRS 17 Insurance Contracts January 1, 2023 IFRS 17 and IFRS 4 Amendments to IFRS 17 Insurance Contracts January 1, 2023 IAS 1 Classification of Liabilities as Current or Non-current January 1, 2023 IAS 1 Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) January 1, 2023 IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction’ (Amendments to IAS 12) January 1, 2023 IAS 1 Disclosure of Accounting Policies January 1, 2023 IAS 8 Definition of Accounting Estimates January 1, 2023 Management anticipates that all relevant pronouncements will be adopted for the first period beginning on or after the effective date of the pronouncement. New Standards, amendments and Interpretations not adopted in the current year have not been disclosed as they are not expected to have a material impact on the Group’s Consolidated Financial Statements. 3.2 Basis of consolidation Subsidiaries Subsidiaries Subsidiaries are entities over which the Group has control. Control is achieved when the Group has the power over the investee, it is exposed, or has rights to, variable returns from its involvement with the investee, and has the ability to use its power to affect its returns. Subsidiaries are consolidated on a line by line basis from the date on which the Group obtains control. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. Subsidiaries are deconsolidated from the date when control ceases. When the Group ceases to have control over a subsidiary, it derecognizes the assets (including any goodwill) and liabilities of the subsidiaries at their carrying amounts, derecognizes the carrying amount of non-controlling The Group recognizes any non-controlling acquisition-by-acquisition non-controlling non-controlling All intra-group balances and transactions and any unrealized gains and losses arising from intra-group transactions are eliminated in preparing the Consolidated Financial Statements. Business combinations The Group applies the acquisition method of accounting to account for acquisitions of businesses. The cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred and equity instruments issued. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date. The excess of the cost of the acquisition over the Group’s interest in the fair value of the identifiable net assets acquired is recorded as goodwill. Positive goodwill will be stated in the consolidated statements of financial position as a separate asset at cost less accumulated impairment losses. Negative goodwill is recognized in the consolidated statements of profit or loss immediately on acquisition as a bargain purchase gain. The allocation of fair values to the identifiable assets acquired and liabilities assumed is based on various assumptions requiring management judgment. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of the Group’s previously held interest in the acquiree is re-measured re-measurement Reverse acquisitions A “reverse acquisition” is a merger of entities in which, for accounting purposes, the legal acquirer is identified as the accounting acquiree and the legal acquiree is identified as the accounting acquirer. The identification of the accounting acquirer and acquiree is based on the principles of business combination accounting. If the accounting acquiree is identified as business, business combination accounting is applied. However if the accounting acquiree does not meet the definition of a business, share-based payment accounting is applied for share based consideration. 3.3 Foreign currency transactions Functional and presentation currency The Consolidated Financial Statements are presented in euros. The functional currency of the Group’s entities is the currency of their primary economic environment. Transactions in foreign currencies are recorded at the exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the foreign currency exchange rate prevailing at that date. Exchange differences arising on the settlement of monetary items or on reporting monetary items at rates different from those at which they were initially recorded during the period or in previous financial statements are recognized in the consolidated statements of profit or loss. Consolidation of foreign entities Upon consolidation, all assets and liabilities of Group entities with a functional currency other than the Euro are translated using the closing rates at the date of the consolidated statements of financial position. Income and expenses are translated into Euro at the average foreign currency exchange rate for the period. Translation differences resulting from the application of this method are recognized within other comprehensive income / (loss) until the disposal of the investment. Average foreign currency exchange rates for the period are used to translate the cash flows of foreign subsidiaries in preparing the consolidated statements of cash flows. Goodwill, assets acquired and liabilities assumed arising from the acquisition of entities with a functional currency other than the Euro are recognized in the Consolidated Financial Statements in the functional currency and translated at the foreign currency exchange rate at the acquisition date. These balances are translated at subsequent balance sheet dates at the relevant foreign currency exchange rate. The principal foreign currency exchange rates used by the Group to translate other currencies into Euro, were as follows: 2022 2021 2020 At December 31 Average At December 31 Average At December 31 Average CNY 7.4229 7.0714 7.2197 7.6372 8.0250 7.8704 CHF 0.9841 1.0036 1.0347 1.0818 1.0844 1.0706 GBP 0.8843 0.8519 0.8389 0.8603 0.9027 0.8891 HKD 8.3095 8.2390 8.8304 9.1986 9.5354 8.8482 INR 88.1789 82.5907 84.3226 87.5124 90.0633 84.4913 JPY 141.7666 137.7370 130.2725 129.8404 126.9056 121.8322 MXN 20.7529 21.0553 23.1683 24.0754 24.4650 24.3566 SEK 11.1472 10.6281 10.2407 10.1418 10.0791 10.4784 SGD 1.4321 1.4499 1.5303 1.5902 1.6273 1.5734 USD 1.0658 1.0521 1.1324 1.1835 1.2299 1.1408 3.4 Scope of consolidation Lanvin Group Holdings Limited is the parent company of the Group and holds, directly or indirectly, interests in the Group’s subsidiaries. The Group’s scope of consolidation at December 31, 2022 and 2021 was as follows: Company Registered office Nominal value of % of Group 2022 2021 Fosun Fashion Group (Cayman) Limited Grand Cayman, Cayman Islands E uro 100.00 N.A. Fosun Fashion Investment Holdings (HK) Limited Hong Kong, P.R.C. HKD100 100.00 100.00 Fosun Fashion (Shanghai) Consulting Management Co., Ltd. Shanghai, P.R.C. USD500,000 100.00 100.00 SJK Investment Holdings Limited Grand Cayman, Cayman Islands USD1,000 100.00 100.00 FFG Investment (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 Fosun Fashion Brand Management Co., Limited Hong Kong, P.R.C. HKD31,878 100.00 100.00 Luminary Talent Limited Hong Kong, P.R.C. HKD1 100.00 100.00 FFG Lily (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 FFG Wisdom (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 Fosun Fashion Brands Management Co., Limited Shanghai, P.R.C. CNY42,393,000 80.00 80.00 Virtuoso Investment Holdings Luxembourg S.à r.l. The Grand Duchy of Luxembourg Euro12,500 100.00 100.00 FFG Lucky SAS Paris, France Euro1 100.00 100.00 Fosun Fashion (Hainan) Industry Development Co., Ltd. Hainan, P.R.C. USD2,000,000 100.00 100.00 Shanghai Fulang Brand Management (Group) Co., Ltd. Shanghai, P.R.C. USD3,000,000 100.00 100.00 Oasis Fashion Holdings Limited Hong Kong, P.R.C. HKD100 100.00 100.00 LANVIN GROUP S.R.L. Milan, Italy Euro10,000 100.00 100.00 Lanv Fashion Pte. Ltd. Singapore SGD1 100.00 — Lanvin Group Fashion (America) Inc. Newark, U.S.A. USD20 100.00 — Arpège SAS Paris, France E uro 94.28 90.61 Wolford AG Breagaz, Austria E uro 58.45 58.45 Raffaele Caruso S.p.A Soragna, Italy Euro2,937,145 100.00 100.00 St. John Knits International, Incorporated Delaware, U.S.A. USD379,547 96.95 96.95 Sergio Rossi S.p.A San Mauro Pascoli, Italy Euro44,084,197 99.03 99.00 JEANNE LANVIN Paris, France Euro16,297,330 94.28 90.61 LANVIN MONTE-CARLO Monaco, Monaco Euro150,000 94.19 90.52 Lanvin Inc. New York, U.S.A. USD12,028,400 94.28 90.61 L3F CROISETTE Paris, France Euro20,000 94.28 90.61 L1 Bal Harbour LLC Miami, U.S.A. USD1,000 94.28 90.61 L2 Crystals LLC Las Vegas, U.S.A. USD1,000 94.28 90.61 L3 Madison LLC New York, U.S.A. USD1,000 94.28 90.61 L4 Rodeo Drive LLC Beverly Hills, U.S.A. USD1,000 94.28 90.61 L5 US ECOM LLC New York, U.S.A. USD1,000 94.28 90.61 L6 MADISON, LLC New York, U.S.A. USD1,000 94.28 90.61 L7 Chicago LLC Chicago, U.S.A. USD1,000 94.28 90.61 L8 South Coast Plaza LLC Costa Mesa, U.S.A. USD1,000 94.28 90.61 L1 SPIGA Srl Milan, Italy Euro46,587 94.28 90.61 L1 Outlet Srl San Remo, Italy Euro10,000 94.28 90.61 L1 Services Srl Padova, Italy Euro10,000 N.A. 90.61 LANVIN JAPAN K.K. Tokyo, Japan JPY100,000,000 94.28 90.61 LANVIN ASIA PACIFIC LIMITED Hong Kong, P.R.C. HKD12,000,000 94.28 90.61 Lans Atelier (SHANGHAI) Trading Co., Ltd. Shanghai, P.R.C. USD50,000,000 94.28 90.61 LANVIN MACAU LIMITED Macao, P.R.C. MOP25,000 94.28 90.61 LANVIN TAIWAN Ltd. Taipei, P.R.C. TWD31,000,000 94.28 90.61 LANVIN LIMITED London, U.K. GBP1 94.28 90.61 Jeanne Lanvin GmbH München, Germany E u ro 94.28 90.61 Wolford Beteiligungs GmbH Bregenz, Austria Euro35,000 58.45 58.45 Wolford proizvodnja in trgovina d.o.o. Murska Sobota, Slovenia Euro500,000 58.45 58.45 Wolford Deutschland GmbH Bielefeld, Germany Euro260,000 58.45 58.45 Wolford (Schweiz) AG Opfikon, Switzerland CHF200,000 58.45 58.45 Wolford London Ltd. London, U.K. GBP100,000 58.45 58.45 Wolford Paris S.A.R.L. Paris, France Euro1,525,000 58.45 58.45 Wolford Italia S.r.l. Mailand, Italy Euro500,000 58.45 58.45 Wolford España S.L. Madrid, Spain Euro60,000 58.45 58.45 Wolford Scandinavia ApS Kopenhagen, Danmark DKK800,000 58.45 58.45 Wolford America, Inc. New York, U.S.A. N.A. 58.45 58.45 Wolford Nederland B.V. Amsterdam, Netherlands Euro50,000 58.45 58.45 Wolford Canada Inc. Vancouver, Canada CAD100 58.45 58.45 Wolford Asia Limited Hong Kong, P.R.C. HKD2,850,000 58.45 58.45 Wolford Belgium N.V. Antwerpen, Belgium Euro124,000 58.45 58.45 Wolford (Shanghai) Trading Co., Ltd. Shanghai, P.R.C. Euro3,000,000 58.45 58.45 Wolford Berangere Paris, France E uro 58.45 58.45 St. John Knits, Inc. California, U.S.A. US D 96.95 96.95 ST. JOHN ASIA LIMITED Hong Kong, P.R.C. HKD1,000,000 96.95 96.95 St. John Canada Corporation Nova Scotia, Canada N.A. 96.95 96.95 St. John China Limited Hong Kong, P.R.C. HKD100 96.95 96.95 St. John China Holdings Limited Hong Kong, P.R.C. USD35,000,000 77.56 77.56 St. John (Shanghai) Trading Co., Ltd. Shanghai, P.R.C. USD7,000,000 77.56 77.56 St. John de Mexico S.A. de C.V. Tijuana Baja, Mexico PES 96.95 96.95 Shanghai Caruso Trading Co., Ltd. Shanghai, P.R.C. CNY1,000,000 100.00 100.00 Sergio Rossi Retail s.r.l. San Mauro Pascoli, Italy Euro30,000 99.03 99.00 Sergio Rossi USA Inc. New York, U.S.A. USD150,000 99.03 99.00 Sergio Rossi UK Limited London, U.K. GBP2,350,000 99.03 99.00 Sergio Rossi Japan Limited Tokyo, Japan JPY100,000,000 99.03 99.00 Sergio Rossi Hong Kong Limited Hong Kong, P.R.C. HKD99,582,000 99.03 99.00 Sergio Rossi Shanghai Trading Limited Shanghai, P.R.C. E uro 99.03 99.00 Sergio Rossi Deutschland GmbH München, Germany Euro25,000 99.03 99.00 3.5 Proper ty, Cost Property, plant and equipment is initially recognized at cost, which comprises the purchase price, any costs directly attributable to bringing the assets to the location and condition necessary to be capable of operating in the manner intended by management, capitalized borrowing costs and any initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. Self-constructed assets are initially recognized at their production cost, including labor costs. Subsequent costs are capitalized only if they increase the future economic benefits embodied in the related assets. All other expenditures are expensed as incurred. When parts are replaced, the carrying amount of the parts that are replaced are written off in the consolidated statements of profit or loss. Property, plant and equipment is presented net of accumulated depreciation, calculated on the basis of the useful lives of the assets, and any impairment losses. Depreciation Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Buildings 10 to 50 years Machinery and equipment 3 to 20 years Leasehold improvements 5 to 15 years Office equipment 2 to 10 years Other 2 to Land and assets under construction are not depreciated. If the asset being depreciated consists of separately identifiable components whose useful life differs from that of the other parts making up the asset, depreciation is charged separately for each of its component parts through the application of the “component approach”. Property, plant and equipment is tested for impairment when impairment indicators are identified, such as a scheduled closure of a store or site, a redundancy plan or a downward revision of market forecasts. When an asset’s recoverable amount is less than its net carrying amount, an impairment loss is recognized. Where the recoverable amount of an individual asset cannot be determined precisely, the Group determines the recoverable amount of the cash-generating unit (“CGU”) or group of CGUs to which the asset belongs. 3.6 Goodwill Goodwill, an asset that produces future economic benefits but which is not individually identified and separately measured, is initially recognized at cost. Goodwill is not amortized but tested for impairment every year to determine if its value has been impaired. If specific events or altered circumstances indicate the possibility that goodwill has been impaired, the impairment test is performed more frequently. For impairment test purposes, goodwill acquired in a business combination shall be, from the acquisition date, allocated to each of the acquirer’s cash generating units that are expected to benefit from the synergies of the combination. Cash Generating Units are determined based on the organizational structure of the Group and represent groups of assets that generate independent cash inflows from continuing use of the relevant assets. The Group’s Cash Generating Units include brands, sales channels and geographical areas. The CGUs to which goodwill has been allocated are tested for impairment annually and, whenever there is an indication of impairment, the carrying value of the CGU is compared with their recoverable amount. The carrying amount of CGUs tested for impairment for consolidation purposes is represented by the net invested capital, which means the net equity adjusted by the net financial position including the lease liability. Recoverable amount is the higher of fair value less costs to sell and value in use, as calculated based on an estimate of the future cash flows expected to derive from the CGU tested for impairment. Cash flow projections are based on budget, forecast and on long-term estimates prepared by the management. An impairment loss is recognized in profit or loss for the period whenever the recoverable amount of the CGU is lower than its book value. An impairment loss recognized for goodwill is never reversed in subsequent years. 3.7 Intangible assets Only identifiable assets controlled by the Group and capable of producing future economic benefits are included in intangible assets. Intangible assets include brands, trademarks and patents and software. Brands with indefinite useful life Brands with indefinite useful lives are not amortized but are tested for impairment at least annually, or more frequently if facts or circumstances indicate that the asset may be impaired. Intangible assets with a finite useful life Identifiable non-monetary Intangible assets with a finite useful life include trademarks and patents and software. Trademarks and patents Trademarks and patents are recognized at cost or at the value attributed upon acquisition and include the cost of trademark registration in the various countries in which the Group operates, assuming there are no risks or limitations on control over their use. Software Software acquired in-house Intangible assets with a definite useful life are amortized on a straight-line basis at the following periods: Trademarks and patents 3 to 10 years Software 2 to 10 years Other 1 to 5 years 3.8 Leases Right-of-use right-of-use non-cancellable The lease term begins on the “commencement date” of the lease. This is defined as the date on which the lessor makes an underlying asset available for use by a lessee. It is the date on which the lessee initially recognizes and measures right-of-use right-of-use right-of-use The right-of-use right-of-use right-of-use right-of-use re-measured, In addition, options for the extension and early termination of the lease agreements are re-evaluated re-considered minimum Based on the practical expedient set by the “Amendment to IFRS16: COVID-Related Rent Concession”, a lessee is not required to assess whether the COVID-related rent reductions obtained by the lessors are lease modifications. Therefore, the lessee can record such rent reduction as if they were not lease modifications, thus recognizing the entire economic benefit of such discounts immediately through profit or loss. Rent discounts are eligible for the practical expedient if they occur as a direct consequence of the COVID-19 • any rent reduction affects only payments originally due on or before June 30, 2022; • there is no substantive change to the other terms and conditions of the lease; • the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change. A lessee is expected to make judgement about whether other changes are substantive based on its understanding of those changes and based on how they were historically managed by the Group. As a result in the Group’s view, a modification of the contract such as a renewal or the extension of the lease term is to be considered substantive only when it is not consistent with the usual practices applied by the Group and in the industry as a whole. 3.9 Financial instruments The classification of a financial asset is based on the Group’s business model for managing the related financial assets and their contractual cash flows. The Group considers whether the contractual cash flows represent solely payments of principal and interest that are consistent with a basic lending arrangement. Where the contractual terms introduce exposure to risk or volatility that are inconsistent with a basic lending arrangement, the related financial assets are classified and measured at fair value through profit or loss. With the exception of trade receivables that do not contain a significant financing component (or for which the Group has applied the practical expedient available under IFRS 15 - Revenue from contracts with customers (“IFRS 15”)), which are measured at the transaction price (as defined in IFRS 15), all financial assets are initially measured at their fair value plus, in the case of financial assets not at fair value through profit or loss only, transaction costs that are directly attributable to the acquisition of the asset. Measurement subsequent to initial recognition is based on the classification of the financial assets into one of the following categories: • Financial assets at amortized cost; • Financial assets at fair value through other comprehensive income/(loss), with subsequent recycling of cumulative gains and losses to the statement of profit or loss (“FVOCI”); or • Financial assets at fair value through profit or loss (“FVPL”). Financial assets at amortized cost Financial assets at amortized cost are subsequently measured using the effective interest rate method and are subject to impairment testing. Gains and losses are recognized in the statement of profit or loss when the asset is derecognized, modified or impaired. The Group’s financial assets at amortized cost primarily include trade receivables, guarantee deposits and certain other non-current Financial assets at fair value through other comprehensive income/(loss) Financial assets at FVOCI are initially recognized at fair value and subsequent fair value changes are recognized within other comprehensive income/(loss). Interest income, foreign exchange revaluations and impairment losses or reversals are recognized in the consolidated statements of profit or loss. Upon de-recognition, the cumulative reserve of fair value changes recognized within other comprehensive income/(loss) is recycled to profit or loss. The Group’s financial assets at FVOCI primarily include derivative instruments fixed income and floating income securities. Financial assets at fair value through profit or loss Financial assets at FVPL are initially recognized at fair value and subsequent fair value changes are recognized in the consolidated statements of profit or loss. Financial assets at FVTPL include derivative instruments and listed equity investments for which the Group has not irrevocably elected to classify the instruments at FVOCI. Dividends from listed equity investments are recognized as other income in the consolidated statements of profit or loss when the right of payment has been established. The Group’s financial assets measured at FVPL primarily include insurance contracts, equity instruments and fixed income securities, as well as investments in hedge funds and private equity private debts, money market funds, floating income and real estate funds. Reclassification A financial asset is only reclassified when there is a change in the contractual terms that significantly affects the previously expected cash flows or when the Group changes its business model for managing financial assets. Reclassifications are only made prospectively from the reclassification date, without restating any previously recognized gains, losses or interest. Derecognition The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its retained interest in the asset and an associated liability for any obligations created or retained. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. On derecognition of a financial asset measured at amortized cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. In addition, on derecognition of an investment in a debt instrument classified as FVOCI, the cumulative gain or loss previously accumulated in the investment revaluation reserve within other comprehensive income/(loss) is reclassified to profit or loss. Impairment of financial assets The Group recognizes a loss allowance for expected credit losses on investments in debt instruments that are measured at amortized cost or at FVOCI, lease receivables, trade receivables and contract assets, as well as on financial guarantee contracts. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument. The Group always recognizes lifetime expected credit losses for trade receivables, contract assets, lease receivables and securities. The expected credit losses on these financial assets are estimated using a provision matrix based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. 3.10 Finan c Financial liabilities include loans, bonds, lease liabilities, trade payables and other liabilities. These instruments are recorded at fair value on initial recognition, net of any costs that can be ascribed to them. Subsequently, the financial liabilities are measured at amortized cost using the effective interest method. The Group derecognizes a financial liability when, and only when, it is extinguished, i.e. when the obligation in the contract is discharged, cancelled or expired. 3.11 Warrant liabi li The Group accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in non-cash 3.12 Cash an d Cash and bank balances comprise cash on hand and demand deposits, together with other short-term, highly liquid investments maturing within 90 days from the date of acquisition that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value. Bank overdrafts are included in liabilities. In the consolidated statements of cash flows, cash and cash equivalents are presented net of bank overdrafts. 3.13 Trade receivables and payables Trade receivables are amounts due from clients for goods sold or services provided in the ordinary course of business. Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method, less any loss allowances. Trade receivables are recognized at their nominal value net of the bad debt provision determined on the basis of the requirements set by IFRS 9. According to this standard, receivables are written off following the application of the “expected loss” impairment method together with, if necessary, further impairments recognized upon specific doubtful conditions on the single credit positions. Trade accounts payable are recorded at nominal amount. Transactions denominated in foreign currency are recognized at the exchange rate as at the date of the transaction. At the reporting date, transactions denominated in foreign currencies are translated using the exchange rate as at the reporting date. Gains and losses arising from the translation are reflected in the profit or loss. 3.14 Invento r Inventories are recognized at the lower of cost (acquisition or production) and net realizable value. Cost includes direct production costs and indirect costs that have been incurred in bringing the inventories to the location and condition necessary to be capable for their use in the production process. Cost is determined on a weighted average basis. Net realizable value is the estimated selling price less the estimated costs of completion and the estimated costs for sale and distribution. Inventories are presented net of provisions for slow moving and obsolete inventories. 3.15 Employee benefits Post-employment benefits The Group operates a number of defined benefit plans, the assets of which are generally held in separate trustee-managed funds. The pension plans are generally funded by payments from employees and the Group, and for defined benefit plans, taking account of the recommendations of independent actuaries. The Group maintains funded and unfunded pension plans. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. For defined benefit plans, the pension expenses are assessed separately for each plan using the projected unit credit method. The projected unit credit method considers each period of service as giving rise to an additional unit of benefit entitlement. Under this method, the cost of providing pensions is charged to the consolidated income statement so as to spread the regular cost over the service lives of employees in accordance with the advice of qualified actuaries who carry out a full valuation of the plans at least every three years. The amounts charged to the consolidated income statement include current service costs, net interest cost (income), past service costs and the effect of any curtailments or settlements. Past service costs are recognized at the earlier of when the amendment/curtailment occurs or when the Group recognizes related restructuring or termination costs. The pension obligations recognized in the consolidated statements of financial position are measured at the present value of the estimated future cash outflows using interest rates based on high-quality corporate bond yields, which have terms to maturity approximating the terms of the related liability, less the fair value of any plan assets. Re-measurements, Re-measurements Where the calculated amount of a defined benefit liability is negative (an asset), the Group recognizes such pension asset to the extent that economic benefits are available to the Group either from refunds or reductions in future contributions. Other long-term employee benefits The Group’s obligations represent the present value of future benefits that employees have earned in return for their service during the current and prior periods. Re-measurement 3.16 Provisions for risks an d Provisions are recognized when the Group has a present obligation, legal or constructive, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate of the amount of the obligation can be made. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognized as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably. A restructuring provision is recognized when the Group has developed a detailed formal plan for the restructuring and has raised a valid expectation in those affected that it will carry out the restructuring by starting to implement the plan or announcing its main features to those affected by it. The measurement of a restructuring provision includes only the direct expenditures arising from the restructuring, which are those amounts that are both necessarily entailed by the restructuring and not associated with the ongoing activities of the entity. Present obligations arising under onerous contracts are recognized and measured as provisions. An onerous contract is considered to exist where the Group has a contract under which the unavoidable costs of meeting the oblig |
Financial risk management
Financial risk management | 12 Months Ended |
Dec. 31, 2022 | |
Financial risk management [Abstract] | |
Financial risk management | 4. Financial risk management 4.1 Capital management The Group continuously optimizes its capital structure to maximize shareholder value while keeping the financial flexibility to execute the strategic projects. The Group’s capital structure policy and framework aim to optimize shareholder value through cash flow distribution to the Group from its subsidiaries, while maintaining an investment-grade rating and minimizing investments with returns below the Group’s weighted average cost of capital. Cash net of debt is defined as cash and cash equivalents minus non-current The following table provides a reconciliation of the Group’s cash net of debt: At December 31, (Euro thousands) 2022 2021 Cash and cash equivalents 91,897 88,672 Non-current (18,115 ) (11,212 ) Current borrowings (15,370 ) (55,559 ) Borrowings (33,485 ) (66,771 ) Bank overdrafts (148 ) (14 ) Cash net of debt 58,264 21,887 The ratio of cash net of debt to total consolidated equity was as follows: At December 31, (Euro thousands) 2022 2021 Cash net of debt (58,264 ) (21,887 ) Total equity 300,806 290,826 Total capital 242,542 268,939 Gearing ratio (24 % (8 % ) 4.2 Fair value estimation The different levels have been defined as follows: • Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1). • Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2). • Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3). The following table presents the Group’s assets and liabilities that are measured at fair value at December 31, 2022 and 2021. At December 31, (Euro thousands) 2022 2021 Assets Other non-current - Equity investments designated at fair value through profit or loss Level 1 1,028 1,259 Level 3 1,347 693 2,375 1,952 Liabilities Other current liabilities - Warrant liabilities Level 1 5,826 — Level 3 3,176 — 9,002 — Equity investments designated at fair value through profit or loss included in Level 1 are publicly listed investment fund shares and included in Level 3 are non-listed Warrant liabilities included in Level 1 are public warrants with using of an observable market quote in an active market and included in Level 3 are private placement warrants with using a Black-Scholes Model. During the years ended December 31, 2022 and 2021, there are no transfers among levels of the fair value hierarchy used in measuring the fair value of financial instruments, and also no changes in the classification of financial assets as a result of a change in the purpose or use of those assets. The carrying amount of cash and cash equivalents, trade receivables and most other current assets, as adjusted for impairment where necessary as required by IFRS 9, approximates their estimated realizable value and their fair value. Lease liabilities are reported at present value, while all of the other financial liabilities recorded at amortized cost approximate fair value. 4.3 Financial risk factors The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk and interest rate risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance. The Group did not use any derivative financial instruments to hedge certain risk exposures. (a) Market risk Foreign exchange risk The Group has a vast international presence, and therefore is exposed to the risk that changes in currency exchange rates could adversely impact revenue, expenses, margins and profit. The Group’s management assesses its foreign exchange risk by performing a regular review. The following table demonstrates the sensitivity at the end of the reporting period to a reasonably possible change in the main foreign currencies against the Euro, with all other variables held constant, of the Group’s loss before tax due to differences arising on settlement or translation of monetary assets and liabilities and the Group’s equity excluding the impact of accumulated losses due to the changes of exchange fluctuation reserve of certain overseas subsidiaries of which the functional currencies are currencies other than Euro. At December 31, 2022 At December 31, 2021 (Euro thousands) Increase / (decrease) in Increase / (decrease) Increase / (decrease) in Increase / (decrease) in USD (7,610 ) 7,610 (5,418 ) 5,418 CNY 138 (138 ) 180 (180 ) HKD 1 (1 ) 123 (123 ) GBP 108 (108 ) 78 (78 ) Total (7,363 ) 7,363 (5,037 ) 5,037 Interest rate risk The Group does not have any significant interest-bearing financial assets or liabilities except for cash and cash equivalents and borrowings, details of which are disclosed in Notes 2 4 5 The Group’s exposure to the risk of changes in market interest rates relates primarily to the Group’s borrowings with floating interest rates. The Group’s policy is to manage its interest cost using a mix of fixed and variable rate debts. As at December 31, 2022, approximately 42 % (December 31, 2021: 69 % ) of the Group’s interest-bearing borrowings bore interest at fixed rates. The following table demonstrates the sensitivity to a reasonably possible change in interest rate, with all other variables held constant, of the Group’s loss before tax (through the impact on floating rate borrowings). (Euro thousands) Increase/(decrease) Increase/(decrease) 2022 100 253 (100 ) (253 ) 2021 100 328 (100 ) (328 ) (b) Credit risk Credit risk is defined as the risk of financial loss caused by the failure of a counterparty to repay amounts owed or meet its contractual obligations. The maximum risk to which an entity is exposed is represented by all the financial assets recognized in the financial statements. Management considers its credit risk to relate primarily to trade receivables generated from the wholesale channel and mitigates the related effects through specific commercial and financial strategies. With regards to trade receivables, credit risk management is carried out by monitoring the reliability and solvency of customers. The following table provides the aging of trade receivables: (Euro thousands) Not yet due 0-90 days 90-180 days >180 days Total Trade receivables, gross 33,279 10,616 4,618 6,566 55,079 Loss allowance — (118 ) (286 ) (5,807 ) (6,211 ) Total trade receivables at December 31, 2022 33,279 10,498 4,332 759 48,868 Trade receivables, gross 28,046 8,879 1,420 7,744 46,089 Loss allowance — (63 ) (285 ) (5,960 ) (6,308 ) Total trade receivables at December 31, 2021 28,046 8,816 1,135 1,784 39,781 (c) Liquidity risk Liquidity risk refers to the difficulty the Group could have in meeting its financial obligations. According to management, the funds and credit lines currently available, in addition to those that will be generated by operating and financing activities, will enable the Group to meet its financial requirement arising from investing activities, working capital management and punctual loan repayment as planned. As of December 31, 2022, the Group has undrawn cash credit lines of USD13 million (December 31, 2021: USD13 million) available at banks. The table below analysis the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. As at December 31, 2022 On demand Less than 1 1 to 3 years Over 3 Total Trade payables 34,477 38,637 — — 73,114 Other current liabilities 29,704 35,238 — — 64,942 Lease liabilities — 38,029 55,008 63,589 156,626 Bank overdrafts 148 — — — 148 Borrowings — 15,370 6,503 11,612 33,485 64,329 127,274 61,511 75,201 328,315 As at December 31, 2021 On demand Less than 1 1 to 3 years Over 3 Total Trade payables 21,993 36,158 — — 58,151 Other current liabilities 17,056 8,602 — — 25,658 Lease liabilities — 43,687 51,091 71,814 166,592 Bank overdrafts 14 — — — 14 Borrowings — 55,559 6,619 4,593 66,771 39,063 144,006 57,710 76,407 317,186 |
Use of Estimates
Use of Estimates | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Use Of Estimates [Abstract] | |
Use of estimates | 5. Use of estimates The preparation of the Consolidated Financial Statements in accordance with IFRS requires the use of estimates, judgements and assumptions that affect the carrying amounts of assets and liabilities (as well as the assessment of contingent assets and liabilities) and the amount of income and expenses recognized. The estimates and associated assumptions are based on historical experience and on any other factors that are considered to be relevant. Actual results might not fully correspond to estimates. The estimates and underlying assumptions are reviewed continuously by the Group. The effects of any changes to accounting estimates are recognized in the consolidated statements of profit or loss in the period in which the adjustment is made, or prospectively in future periods. The items requiring estimates for which there is a risk that a material difference may arise in respect of the carrying amounts of assets and liabilities in the future are discussed below. 5.1 Recoverability of goodwill and brands with indefinite useful life In accordance with IAS 36 — Impairment of Assets (“IAS 36”), goodwill and brands with indefinite useful life are not amortized and are tested for impairment annually or more frequently if facts or circumstances indicate that the asset may be impaired. The impairment test is performed by comparing the carrying amount and the recoverable amount of the CGU. The recoverable amount of the CGU is the higher of its fair value, less costs of disposal and its value in use. 5.2 Impairment of non-current Non-current right-of-us non-current pre-tax 5.3 Recoverability of deferred tax assets The deferred tax assets are recognized on the premise that it is more likely than not that the Group will be able to generate sufficient and suitable future taxable profits from which the reversal of the asset can be deducted. If the Group is unable to generate sufficient taxable profits in certain jurisdictions, or if there is a significant change in the actual effective tax rates or the time period within which the underlying temporary differences become taxable or deductible, the Group could be required to write-off 5.4 Provisions for obsolete inventory Since the Group’s products are subject to market trends and changes in fashion trends, product inventories at the end of the season are subject to impairment. Specifically, the provision for obsolete inventory of finished products reflects management’s estimate of the expected impairment losses on the products of the collections of previous seasons, considering the ability to sell them through the Group’s various distribution channels. Generally, impairment assumptions involve percentages of impairment that become greater the older the collections are, so as to reflect the decline in selling prices in secondary channels (mainly outlets), and on the other hand, the decrease in the probability of selling them as time goes by. The provision for obsolete raw materials reflects management’s estimates of the decline in the probability they will be used based on the calculation of slow-moving raw materials. 5.5 Provision for risks The Group recognizes a liability when facing legal and tax disputes and lawsuits if it believes it is probable that they will require an outflow of financial resources and a reliable estimate can be made of the amount of the potential losses. Given the uncertainty surrounding the outcome of these proceedings, it is hard to reliably estimate the outflow of resources that will be required to settle them, therefore the amount of the provisions for legal and tax disputes may change as a result of future developments in the outstanding proceedings. The Group monitors the status of ongoing lawsuits and proceedings and consults with its legal advisors as well as legal and tax experts. 5.6 Fair value estimates Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. IFRS 13— fair value measurement (“IFRS 13”) establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. 5.7 Impact of the Russia-Ukraine conflict on the consolidated financial statements The direct impact of the Russia-Ukraine conflict was not significant to the Group’s operations because the Group is not present with direct shops in these countries and its presence through the indirect channel is also very limited. In particular, the Group’s total exposure to these two countries before the outbreak of the conflict, was less than % of consolidated revenues. The Group assessed the impact of the conflict, including direct and indirect factors (increase in energy costs, inflation in the main international markets, increase in interest rates) on the valuation and potential impairment of balance sheet items. |
Reverse Recapitalization
Reverse Recapitalization | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Reverse Recapitalization [Abstract] | |
Reverse Recapitalization | 6. Reverse Recapitalization The Reverse Recapitalization has been accounted for with PCAC being identified as the “acquired” entity for financial reporting purposes. Accordingly, the Reverse Recapitalization has been accounted for as the equivalent of FFG issuing shares for the net assets of PCAC, accompanied by a recapitalization by third party investors. Therefore, these consolidated financial statements have been presented as a continuation of the FFG with: • the assets and liabilities of FFG recognized and measured in the LGHL consolidated financial statements at their carrying amounts immediately prior to the Reverse Recapitalization; • the retained earnings and other equity balances of FFG recognized in the LGHL consolidated financial statements at amounts immediately prior to the Reverse Recapitalization; • the comparative information presented in the LGHL consolidated financial statements are that of FFG Group. FFG has been determined to be the accounting acquirer based on consideration of the following factors: • FFG’s previous shareholders have the largest voting rights in LGHL; • FFG’s previous shareholders have the right to nominate, appoint and remove the majority of the members on the LGHL board of directors; • FFG’s previous key management personnel are the current key management personnel of LGHL; • the business of LGHL is a continuation of the ongoing operations of FFG; and • FFG is the larger entity in terms of substantive operations and employee base. The Group Details of the share listing expenses are set out below: (Euro thousands) 10.64 million of LGHL shares 99,201 Net assets of PCAC (24,661 ) IFRS 2 Expense on the Closing Date 74,540 Breakdown of the net cash proceeds from the Reverse Recapitalization is set out below: Euro thousands) Proceeds from the Reverse Recapitalization 183,426 Payments of transaction costs related to the Reverse Recapitalization (11,217 ) Net cash proceeds from the Reverse Recapitalization 172,209 The Reverse Recapitalization has also involved: • at the Closing Date and immediately prior to the Reverse Recapitalization, LGHL effected a share subdivision and redesignation such that each authorized, issued and unissued share of LGHL of a par value of US$1.00 is sub-divided on a 1,000,000:1 basis into 1,000,000 shares of LGHL of a par value US$0.000001 each and a re-designation of shares such that the authorized share capital of LGHL is US$50,000 divided into 49,984,999,999 LGHL ordinary shares with a par value of US$0.000001 each, 15,000,000 LGHL non-voting ordinary shares with a par value of US$0.000001 each and one LGHL convertible preference share with a par value of US$0.000001 each; • additional capitalization by way of the issuance of LGHL shares to third party investors on December 14, 2022, pursuant to investment commitments in previously agreed subscription agreements in which the investors committed to subscribe for and purchase 15,327,225 LGHL ordinary shares (see Note 30) for an aggregate purchase price of U SD • Costs of approximately E uro million related to the Reverse Recapitalization include (i) the Euro uro million share listing and associated expenses consisting primarily of advisory, banking, printing, legal, and accounting fees , million were recognized directly within equity and million were recognized in the consolidated statement of profit or loss for the year ended December 31, 2022. |
Business Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Business Combinations 1 [Abstract] | |
Business combinations | 7. Business combinations There were no business combination for the year ended December 31, 2022. A summary of the Group’s material business combination for the year ended December 31, 2021 is provided below. This business combination has been recognized in accordance with IFRS 3 — Business Combinations. Acquisition of Sergio Rossi S.p.A In July 2021, the Group acquired 100% equity interests of Sergio Rossi S.p.A (“Sergio Rossi”), an Italian center of excellence for made-in-Italy The net value of the assets acquired is detailed as follows: (Euro thousands) Fair value at acquisition date Intangible assets 6,420 Property, plant and equipment 12,621 Right-of-use 8,252 Deferred income tax assets 6,474 Inventories 15,118 Trade receivables 7,070 Other current assets 7,040 Cash and bank balances 8,357 Non-current (11,034 ) Non-current (8,925 ) Employee benefits (962 ) Deferred income tax liabilities (866 ) Trade payables (9,417 ) Current borrowings (2,125 ) Current lease liabilities (4,387 ) Current provisions (942 ) Other current liabilities (7,548 ) Net identifiable assets acquired 25,146 Consideration paid (17,250 ) Gain on acquisition 7,896 The acquisition had resulted in a negative goodwill COVID-19 The details of the net cash outflows related to the acquisition are shown below: (Euro thousands) At acquisition date Consideration paid 17,250 Cash and bank balances acquired (8,357 ) Net cash outflow - Investing activities 8,893 The Group incurred transaction costs of Euro688 thousand for this acquisition. The transaction costs have been expensed and are included in other operating expenses in the consolidated statements of profit or loss. Since the acquisition, the acquired subsidiary contributed Euro28,737 thousand to the Group’s turnover and net loss of Euro4,274 thousand to the consolidated loss for the year ended 31 December 2021. Had the combinations taken place at the beginning of the year, the revenue of the Group and the net losses of the Group for the year ended 31 December 2021 would have been Euro339,290 thousand and Euro84,290 thousand, respectively. |
Segment Reporting
Segment Reporting | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Entity Reportable Segments [Abstract] | |
Segment reporting | 8. Segment reporting The CODM reviews the Group’s internal reporting for purposes of business management, resource allocation, operating decision making and performance evaluation. The CODM has determined the operating segments based on their reports. The Group’s brands and trade names are organized into five business groups – Lanvin, Wolford, Caruso, St. John and Sergio Rossi – comprise brands dealing with the same category of products that use similar production and distribution processes. The following tables summarize selected financial segment ended 2021 For the year ended December 31, 2022 (Euro thousands) Lanvin Wolford Caruso St. John Sergio Other and Eliminations Group Segment results Sales outside the Group 119,772 125,514 29,696 85,884 61,172 274 — 422,312 Intra-Group sales 75 — 1,123 — 757 10,673 (12,628 ) — Total revenue 119,847 125,514 30,819 85,884 61,929 10,947 (12,628 ) 422,312 Cost of sales (59,334 ) (39,286 ) (23,672 ) (33,242 ) (30,881 ) (101 ) 2,148 (184,368 ) Gross profit 60,513 86,228 7,147 52,642 31,048 10,846 (10,480 ) 237,944 Loss from operations before non-underlying (142,267 ) Non-underlying (83,057 ) Finance cost – net (14,556 ) Loss before income tax (239,880 ) Income tax benefits 129 Loss for the year (239,751 ) Other segment information Depreciation and amortization 11,734 15,671 1,045 11,060 6,082 218 — 45,810 Of which: Right-of-use 7,415 12,357 664 8,111 4,091 — — 32,638 Other 4,319 3,314 381 2,949 1,991 218 — 13,172 Provisions 7,709 5,127 (442 ) 3,257 1,103 (25 ) — 16,729 For the year ended December 31, 2021 (Euro thousands) Lanvin Wolford Caruso St. John Sergio Other and Eliminations Group Segment results Sales outside the Group 72,872 109,332 24,646 73,094 28,737 141 — 308,822 Intra-Group sales — — 49 — — 6,827 (6,876 ) — Total revenue 72,872 109,332 24,695 73,094 28,737 6,968 (6,876 ) 308,822 Cost of sales (38,844 ) (30,262 ) (20,246 ) (34,107 ) (15,418 ) (83 ) 40 (138,920 ) Gross profit 34,028 79,070 4,449 38,987 13,319 6,885 (6,836 ) 169,902 Loss from operations before non-underlying (108,014 ) Non-underlying 45,206 Finance cost – net (9,313 ) Loss before income tax (72,121 ) Income tax expenses (4,331 ) Loss for the year (76,452 ) Other segment information Depreciation and amortization 11,231 14,229 1,089 12,025 2,944 66 — 41,584 Of which: Right-of-use 9,079 11,054 683 9,424 1,914 — — 32,154 Other 2,152 3,175 406 2,601 1,030 66 — 9,430 Provisions 9,985 (440 ) (992 ) (221 ) 2,389 45 — 10,766 For the year ended December 31, 2020 (Euro thousands) Lanvin Wolford Caruso St. John Sergio Other and Eliminations Group Segment results Sales outside the Group 34,989 95,384 25,251 66,512 — 476 — 222,612 Intra-Group sales — — 1,100 — — 2,093 (3,193 ) — Total revenue 34,989 95,384 26,351 66,512 — 2,569 (3,193 ) 222,612 Cost of sales (21,416 ) (29,519 ) (21,470 ) (33,525 ) — (388 ) 1,100 (105,218 ) Gross profit 13,573 65,865 4,881 32,987 — 2,181 (2,093 ) 117,394 Loss from operations before non-underlying (167,817 ) Non-underlying 43,546 Finance cost – net (12,989 ) Loss before income tax (137,260 ) Income tax benefits 1,603 Loss for the year (135,657 ) Other segment information Depreciation and amortization 12,215 18,263 1,155 16,703 — (4 ) — 48,332 Of which: Right-of-use 9,144 13,141 686 13,507 — — — 36,478 Other 3,071 5,122 469 3,196 — (4 ) — 11,854 Provisions 3,854 10,913 5,526 2,383 — — — 22,676 The following table summarizes non-current assets December (Euro thousands) At December 31, 2022 2021 EMEA (1) 305,927 314,021 North America (2) 87,571 75,703 Greater China (3) 26,919 32,466 Other Asia (4) 14,188 3,448 Total non-current 434,605 425,638 (1) EMEA includes EU countries, the United Kingdom, Switzerland, the countries of the Balkan Peninsula, Eastern Europe, Scandinavian, Azerbaijan, Kazakhstan and the Middle East. (2) North America includes the United States of America and Canada. (3) Greater China includes Mainland China, Hong Kong, Macao and Taiwan. (4) Other Asia includes Japan, South Korea, Thailand, Malaysia, Vietnam, Indonesia, Philippines, Australia, New Zealand, India and other Southeast Asian countries. |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2022 | |
Revenue [abstract] | |
Revenue | 9 The Group generates revenue primarily from the sale of its products (net of returns and discounts), and from fees for royalties and licenses received from third parties. Breakdown of revenue by sales channel: For the years ended December 31, (Euro thousands) 2022 2021 2020 Direct To Consumer (DTC) 247,460 186,813 124,354 Wholesale 164,359 116,417 93,156 Other 10,493 5,592 5,102 Total revenue by sales channel 422,312 308,822 222,612 Breakdown of revenue by geographic area: For the years ended December 31, (Euro thousands) 2022 2021 2020 EMEA 205,715 148,197 113,883 North America 145,519 106,701 85,601 Greater China 48,876 42,518 18,751 Other Asia 22,202 11,406 4,377 Total revenue 422,312 308,822 222,612 |
Expenses By Nature
Expenses By Nature | 12 Months Ended |
Dec. 31, 2022 | |
Expenses by nature [abstract] | |
Expenses by nature | 10. Expenses by nature For the years ended December 31, (Euro thousands) 2022 2021 2020 Personnel costs 184,254 154,965 151,513 Raw materials, consumables and finished goods used 140,273 115,621 70,985 Changes in inventories of finished goods and work in progress (13,337 ) (14,997 ) 1,441 Depreciation and amortization 45,810 41,584 48,332 Professional service fees 43,614 29,562 26,629 Freight and selling expenses 40,962 19,016 11,513 Advertising and marketing expenses 32,162 26,590 22,510 Lease expenses 22,614 13,625 5,690 Provisions and impairment losses 16,729 10,766 22,676 Studies and research expenses 11,916 8,552 7,458 Office expenses 5,916 4,111 3,585 Travel expenses 4,345 1,561 2,169 Taxes and surcharges 2,946 4,006 3,972 Fair value changes on warrants 1,132 — — Net foreign exchange (gains) / losses 339 (10,489 ) 3,304 Other 24,904 12,363 8,652 Total expenses 564,579 416,836 390,429 Breakdown for personnel costs: For the years ended December 31, (Euro thousands) 2022 2021 2020 Salaries and wages 134,888 117,154 109,420 Social contributions, pension plans and indemnities 26,930 19,403 22,502 Employee share-based compensation 7,431 7,208 5,389 Severance indemnities 2,613 3,260 7,816 Other benefits 12,392 7,940 6,386 Total personnel costs 184,254 154,965 151,513 Breakdown for lease expenses: For the years ended December 31, (Euro thousands) 2022 2021 2020 Variable lease payments 20,830 8,433 3,533 Expenses relating to short-term leases 1,347 4,339 3,070 Expenses relating to low-value leases 437 933 1,449 Rent concessions — (80 ) (2,362 ) Total lease expenses 22,614 13,625 5,690 The Group’s variable lease payments are typically linked to sales without a guaranteed minimum. Lease payments not required to be capitalized as right-of-use low-value Breakdown for provisions and impairment losses: For the years ended December 31, (Euro thousands) 2022 2021 2020 Allowance of obsolete inventories 11,417 8,971 4,430 Provisions for trade and other receivables 1,617 669 1,842 Other provisions 983 1,349 1,310 (Reversal)/impairment of right-of-use 2,434 (430 ) 8,720 Impairment of property, plant and equipment 278 207 1,321 Impairment of intangible assets — — 5,053 Total provisions and impairment losses 16,729 10,766 22,676 Impairment of property, plant and equipment and right-of-u se |
Non-Underlying Items
Non-Underlying Items | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Non Underlying Items [Abstract] | |
Non-underlying items | 1 1 Non-underlying The non-underlying For the years ended December 31, (Euro thousands) 2022 2021 2020 Cost related to the Reverse Recapitalization (84,193 ) — — Net gain on disposals 964 24,014 40,307 Government grants 172 6,177 3,724 Negative goodwill from acquisition of a subsidiary — 7,896 — Gain on debt restructuring — 7,380 — Other — (261 ) (485 ) Total non-underlying (83,057 ) 45,206 43,546 Costs related to the Reverse Recapitalization include (i) the excess of the fair value of LGHL ordinary shares issued as part of the Reverse Recapitalization and the fair value of PCAC’s identifiable net assets acquired, accounted for in accordance with IFRS 2 and measured based on the closing price of PCAC’s shares of USD per share on December 14, 2022, and (ii) bank services, legal advisors and other consultancy services relating to the Reverse Recapitalization. For additional information related to the Reverse Recapitalization please refer to Note 6 Non-underlying Non-underlying 7 Gain on debt restructuring was included in non-underlying 5 Non-underlying |
Finance cost - net
Finance cost - net | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Finance cost - net [Abstract] | |
Finance cost - net | 12. Finance cost - net Breakdown for finance income, finance expenses and net foreign exchange gains or losses : For the years ended December 31, (Euro thousands) 2022 2021 2020 Finance income - Net foreign exchange gains 5,354 2,379 — - Interest income 121 7 32 Total finance income 5,475 2,386 32 Finance expenses - Interest expense on lease liabilities (6,658 ) (5,586 ) (7,730 ) - Interest expense on borrowings (12,438 ) (5,357 ) (3,478 ) - Net foreign exchange losses — — (1,289 ) - Other (935 ) (756 ) (524 ) Total finance expenses (20,031 ) (11,699 ) (13,021 ) Total finance cost - net (14,556 ) (9,313 ) (12,989 ) |
Income Tax Benefits _ (Expenses
Income Tax Benefits / (Expenses) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Income Tax [Abstract] | |
Income Tax Benefits / (Expenses) | 13. Income tax benefits / (expenses) Income tax benefits / (expenses) For the years ended December 31, (Euro thousands) 2022 2021 2020 Current taxes (189 ) (856 ) (1,602 ) Deferred taxes 318 (3,475 ) 3,205 Income tax benefits / (expenses) 129 (4,331 ) 1,603 Breakdown of difference between tax The effective tax rate is as follows: For the years ended December 31, (Euro thousands) 2022 2021 2020 Loss before tax (239,880 ) (72,121 ) (137,260 ) Total income tax benefits / (expenses) 129 (4,331 ) 1,603 Effective tax rate 0.05 % (6.01 %) 1.17 % The reconciliation between the Group’s theoretical tax and its income taxes is presented For the years ended December 31, (Euro thousands) 2022 2021 2020 Loss before tax (239,880 ) (72,121 ) (137,260 ) Group’s weighted theoretical tax (calculated in absolute values on the basis of subsidiaries’ pre-taxable 57,651 18,420 37,964 Tax effect on: Differences between foreign tax rates and the theoretical applicable tax rate and tax holidays (2,458 ) 832 5,921 Taxes relating to prior years 111 1,629 5,117 Deferred tax assets not recognized (55,686 ) (25,462 ) (48,189 ) Other tax items 511 250 790 Total income tax benefits / (expenses) 129 (4,331 ) 1,603 Deferred tax assets and deferred tax liabilities Deferred taxes reflect the net tax effect of temporary differences between the book value and the taxable amount of assets . Breakdown for deferred tax tax liabilities (Euro thousands) At 31, 2021 Increase from Recognized Recognized in Exchange At 31, 2022 Deferred tax assets arising on Employee benefits 2,266 — (295 ) (371 ) — 1,600 Property plant and equipment 692 — 193 — — 885 Deferred tax assets on rental contracts; if 2,529 — 1,349 — 130 4,008 Intangible assets 3,262 — (815 ) — — 2,447 Inventories 3,945 — 1,250 — — 5,195 Provisions and accrued expenses 1,803 — 810 — — 2,613 Receivables and other assets 402 — (243 ) — — 159 Tax losses 1,940 — (1,473 ) — (276 ) 191 Other 231 — 21 — (53 ) 199 Total deferred tax assets 17,070 — 797 (371 ) (199 ) 17,297 Deferred tax liabilities arising on: Intangible assets 51,994 — 1,213 — — 53,207 Receivables and other assets 945 — (806 ) — — 139 Other 1,240 — 72 — 2 1,314 Total deferred tax liabilities 54,179 — 479 — 2 54,660 (Euro thousands) At 31, 2020 Increase from Recognized Recognized in Exchange At 31, 2021 Deferred tax assets arising on: Employee benefits 2,028 — 196 42 — 2,266 Property plant and equipment 117 — 583 — (8 ) 692 Deferred tax assets on rental contracts; if 4,711 570 (3,060 ) — 308 2,529 Intangible assets 1,213 2,049 — — — 3,262 Inventories 1,143 3,078 (276 ) — — 3,945 Provisions and accrued expenses 1,673 103 27 — — 1,803 Receivables and other assets 395 521 (514 ) — — 402 Tax losses 2,156 — (308 ) — 92 1,940 Other 172 153 (94 ) — — 231 Total deferred tax assets 13,608 6,474 (3,446 ) 42 392 17,070 Deferred tax liabilities arising on: Intangible assets 51,131 863 — — — 51,994 Receivables and other assets 1,436 — (491 ) — — 945 Other 717 3 520 — — 1,240 Total deferred tax liabilities 53,284 866 29 — — 54,179 Each company in the Group decides to recognize deferred tax assets by assessing whether the conditions exist for the future recoverability of such assets by taking into account the basis of the most recent forecasts. Deferred tax assets and deferred tax liabilities of individual companies are offset where they may be legally offset and management has the intention to settle them through netting. The following table provides the details of tax losses carried forward for which no deferred tax assets were recognized: At December 31, (Euro thousands) 2022 2021 Expiry within 5 years 57,616 76,457 Expiry over 5 years 154,293 141,342 No expiration 712,965 569,948 Total tax losses carried forward 924,874 787,747 The Group’s management updated the deferred tax assets recognized on tax loss carry forward taking into consideration, for their recoverability, the macroeconomic scenario and the business developments of each of the Group’s companies. |
Loss Per Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2022 | |
Earnings per share [abstract] | |
Loss per share | 1 4 Basic and diluted loss per share were calculated as the ratio of net profit or loss attributable to the shareholders of the Company by the weighted average number of outstanding shares (basic and diluted) of the Company. Additionally, because IFRS requires that the calculation of basic and diluted earnings per share (“EPS”) for all periods presented be adjusted retrospectively when the number of ordinary shares or potential ordinary shares outstanding increases as a result of a capitalization, bond issue, or share split, or decreases as a result of a reverse share split, EPS calculations for the reporting period and the comparative period should be based on the new number of shares. Net loss per share and outstanding shares of potentially dilutive securities for the three years ended December 31, 2022 have been retrospectively restated reflecting the exchange ratio to receive 0.26926188 LGHL ordinary shares for each FFG share as part of the Reverse Recapitalization. Basic and diluted net loss per share attributable to ordinary shares for the three years ended December 31, 2022 are calculated as follows (in thousands, except share and per share amounts): For the years ended December 31, (Euro thousands) 2022 2021 2020 Net loss attributable to ordinary shares (218,290 ) (65,354 ) (110,761 ) Weighted-average shares outstanding-basic and diluted (thousand shares) 101,442 77,861 72,606 Net loss per share: Basic and diluted (in Euro) (2.15 ) (0.84 ) (1.53 ) As the Group incurred net losses for the three years ended December 31, 2022, basic loss per share was the same as diluted loss per share. In the calculation of diluted earnings per shares, the warrants have been excluded as the average market price of ordinary shares during the period was lower than the exercise price of the warrants. The following potentially dilutive outstanding securities were excluded from the computation of diluted loss per ordinary share because their effects would have been antidilutive for the three years ended December 31, 2022 or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: At December 31, (Thousand shares) 2022 2021 2020 Warrants 31,980 — — Treasury shares 25,023 8,651 — Convertible preference share s 15,000 — — Total outstanding shares of potentially dilutive securities 72,003 8,651 — |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Intangible assets | 1 5 (Euro thousands) Brands Trademarks and patents Software Intangible Other Total Historical cost At January 1, 2021 174,086 10,738 17,165 1,238 2,216 205,443 Additions — 51 31 332 217 631 Business combination 3,301 1,811 8,313 — 4,566 17,991 Disposals — (764 ) (1,143 ) — — (1,907 ) Net foreign exchange differences — 64 19 — — 83 At December 31, 2021 177,387 11,900 24,385 1,570 6,999 222,241 Additions — 850 919 374 394 2,537 Transfer from construction in progress — 719 — (719 ) — — Disposals — — (602 ) — (690 ) (1,292 ) Net foreign exchange differences — 17 2 — — 19 At December 31, 2022 177,387 13,486 24,704 1,225 6,703 223,505 Amortization and impairment At January 1, 2021 (5,053 ) (8,830 ) (15,954 ) — (64 ) (29,901 ) Amortization — (454 ) (752 ) — (89 ) (1,295 ) Business combination — (1,158 ) (7,241 ) — (3,172 ) (11,571 ) Disposals — 695 1,143 — — 1,838 Net foreign exchange differences — (58 ) (20 ) — — (78 ) At December 31, 2021 (5,053 ) (9,805 ) (22,824 ) — (3,325 ) (41,007 ) Amortization — (804 ) (675 ) — (163 ) (1,642 ) Disposals — — 602 — 43 645 Net foreign exchange differences — (15 ) (1 ) — — (16 ) At December 31, 2022 (5,053 ) (10,624 ) (22,898 ) — (3,445 ) (42,020 ) Carrying amount At January 1, 2021 169,033 1,908 1,211 1,238 2,152 175,542 At December 31, 2021 172,334 2,095 1,561 1,570 3,674 181,234 At December 31, 2022 172,334 2,862 1,806 1,225 3,258 181,485 |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Goodwill [Abstract] | |
Goodwill | 16. Goodwill Goodwill originated from acquisitions made by the Group and is attributable to the following operating segments: At December 31, (Euro thousands) 2022 2021 Lanvin 45,931 45,931 Wolford 11,701 11,701 St. John 11,691 11,691 Total goodwill 69,323 69,323 |
Impairment testing of intangibl
Impairment testing of intangible assets with indefinite useful lives | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of impairment loss and reversal of impairment loss [abstract] | |
Impairment testing of intangible assets with indefinite useful lives | 17. Impairment testing of intangible assets with indefinite useful lives Brands and other intangible assets with indefinite useful lives as well as the goodwill arising on acquisition were subject to annual impairment testing. As described in Note 3.6 and 3.7, these assets are generally valued on the basis of the present value of forecast cash flows determined in the context of multi-year business plans drawn up each fiscal year. The value in use discounted cash flow is based on a 10-year The Group uses a 10-year 5-year • In the first three years of the model, free cash flows are based on the Group’s strategic plan as approved by key management. The Group’s strategic plan is prepared per cash-generating unit and is based on external sources in respect of macro-economic assumptions, industry, inflation and foreign exchange rates, past experience and identified initiatives in terms of market share, revenue, variable and fixed cost, capital expenditure and working capital assumptions; • For the subsequent seven years of the model, data from the strategic plan is extrapolated generally using simplified assumptions such as macro-economic and industry assumptions, variable cost and fixed cost linked to inflation, as obtained from external sources; • Cash flows after the first ten-year • Projections are discounted at the unit’s post-tax Although the Group believes that its judgments, assumptions and estimates are appropriate, actual results may differ from these estimates under different assumptions or market or macro-economic conditions. The Group believes that all of its estimates are reasonable: they are consistent with the Group’s internal reporting and reflect management’s best estimates. However, inherent uncertainties exist that management may not be able to control. As of December 31, 2022, the intangible assets with indefinite useful lives that are the most significant in terms of their carrying amounts and the criteria used for impairment testing are as follows: Goodwill Brands Long-term December 31, 2022 (Euro thousands) Net carrying WACC (bps) Net carrying WACC (bps) Royalty rate (bps) Lanvin 45,931 1,445 100,906 1,645 518 129 Wolford 11,701 1,434 37,856 1,634 250 237 St. John 11,691 1,436 30,271 1,636 344 248 Sergio Rossi — N.A. 3,301 2,001 125 143 Total 69,323 172,334 Goodwill Brands Long-term December 31, 2021 (Euro thousands) Net carrying WACC (bps) Net carrying WACC (bps) Royalty rate (bps) Lanvin 45,931 1,370 100,906 1,570 518 97 Wolford 11,701 1,330 37,856 1,530 250 176 St. John 11,691 1,346 30,271 1,546 344 188 Sergio Rossi — N.A. 3,301 1,567 125 109 Total 69,323 172,334 The following table details the sensitivity of the impairment testing to reasonably possible changes in key assumptions: At December 31, 2022 impairment loss due to At December 31, 2021 impairment loss due to Goodwill Brand Goodwill Brand (Euro thousands) WACC +10 bps Long-term - 10 bps WACC +10 bps Long-term - 10 bps Royalty -10 bps WACC +10 bps Long-term - 10 bps WACC +10 bps Long-term - 10 bps Royalty -10 bps Lanvin 3,810 1,522 1,002 310 2,236 4,002 1,563 1,035 330 2,178 Wolford 5,904 2,507 491 172 2,053 5,356 2,888 476 219 2,004 St. John 1,928 782 330 110 1,118 1,331 642 245 87 924 Sergio Rossi N.A. N.A. 23 6 334 N.A. N.A. 31 10 351 Based on events foreseeable within reason at the date of this report, the Group considers that any changes impacting the key assumptions described above would not lead to the recognition of material impairment loss against other CGUs. The Group cannot predict whether an event that triggers impairment will occur, when it will occur or how it will affect the value of the asset reported. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, plant and equipment | 18. Property, plant and equipment (Euro thousands) Land Buildings Machinery and Leasehold Office Tangible fixed Other Total Historical cost At January 1, 2021 1,884 23,305 78,518 64,747 42,351 773 1,390 212,968 Additions — 404 403 6,543 414 410 41 8,215 Business combination 2,717 25,092 2,091 10,685 4,063 99 1,380 46,127 Disposals — (560 ) (1,906 ) (6,613 ) (1,990 ) — (136 ) (11,205 ) Transfer from tangible fixed assets in — — 33 535 38 (606 ) — — Net foreign exchange 117 1,050 3,482 3,782 1,445 43 32 9,951 At December 31, 2021 4,718 49,291 82,621 79,679 46,321 719 2,707 266,056 Additions — 3,767 1,512 8,406 1,744 3,990 85 19,504 Disposals — (685 ) (2,431 ) (11,828 ) (3,153 ) — (81 ) (18,178 ) Transfer from tangible fixed assets in progress — — 228 2,041 305 (2,574 ) — — Net foreign exchange 92 675 2,567 1,996 741 9 21 6,101 At December 31 , 2022 4,810 53,048 84,497 80,294 45,958 2,144 2,732 273,483 Depreciation and impairment At January 1, 2021 — (17,255 ) (75,257 ) (53,390 ) (38,832 ) — (1,355 ) (186,089 ) Depreciation — (1,330 ) (1,231 ) (3,471 ) (2,051 ) — (52 ) (8,135 ) Business combination — (18,144 ) (2,089 ) (8,967 ) (3,018 ) — (1,288 ) (33,506 ) Impairment losses — — (91 ) (108 ) (8 ) — — (207 ) Disposals — 346 1,905 5,955 1,754 — 136 10,096 Net foreign exchange — (494 ) (3,336 ) (2,477 ) (1,312 ) — (32 ) (7,651 ) At December 31, 2021 — (36,877 ) (80,099 ) (62,458 ) (43,467 ) — (2,591 ) (225,492 ) Depreciation — (1,777 ) (1,422 ) (6,292 ) (1,975 ) — (64 ) (11,530 ) Impairment losses — (332 ) — (283 ) 337 — — (278 ) Disposals — 593 2,389 10,276 2,747 — 51 16,056 Net foreign exchange — (510 ) (2,552 ) (1,758 ) (599 ) — (19 ) (5,438 ) At December 31 , 2022 — (38,903 ) (81,684 ) (60,515 ) (42,957 ) — (2,623 ) (226,682 ) Carrying amount At January 1, 2021 1,884 6,050 3,261 11,357 3,519 773 35 26,879 At December 31, 2021 4,718 12,414 2,522 17,221 2,854 719 116 40,564 At December 31, 2022 4,810 14,145 2,813 19,779 3,001 2,144 109 46,801 |
Right-of-use assets
Right-of-use assets | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of quantitative information about right-of-use assets [abstract] | |
Right-of-use assets | 1 9 Right-of-use (Euro thousands) Real estates Other Total net carrying amount At January 1, 2021 116,845 1,072 117,917 Additions 37,066 491 37,557 Disposals (1,667 ) — (1,667 ) Business combination 8,252 — 8,252 Depreciation (31,604 ) (550 ) (32,154 ) Impairment losses 430 — 430 Contract modifications (15,189 ) (20 ) (15,209 ) Net foreign exchange differences 3,697 (48 ) 3,649 At December 31, 2021 117,830 945 118,775 Additions 17,762 506 18,268 Disposals (3,309 ) (149 ) (3,458 ) Depreciation (32,065 ) (573 ) (32,638 ) Impairment losses (2,434 ) — (2,434 ) Contract modifications 21,704 (11 ) 21,693 Net foreign exchange differences 1,514 11 1,525 At December 31, 2022 121,002 729 121,731 |
Other non-current assets
Other non-current assets | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Other Noncurrent Assets [Abstract] | |
Other non-current assets | 20 non-current At December 31, (Euro thousands) 2022 2021 Deposits of rental, utility and other 11,217 11,167 Equity investments designated at fair value through p ro 2,375 1,952 Other 1,673 2,623 Total other non-current 15,265 15,742 Other non-current . |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Inventory [Abstract] | |
Inventories | 2 1 At December 31, (Euro thousands) 2022 2021 Raw materials, ancillary materials and consumables 18,931 16,001 Work-in-progress 13,446 12,734 Finished goods 76,713 63,386 Other 4 214 Total inventories 109,094 92,335 The cost of inventories recognized as an expense in cost of sales amounted to Euro184,368 thousand and Euro138,920 thousand for the years ended December 31, 2022 and 2021 respectively. Impairment losses recognized on inventories amounted to Euro11,417 thousand and Euro8,971 thousand for the years ended December 31, 2022 and 2021 respectively. |
Trade receivables
Trade receivables | 12 Months Ended |
Dec. 31, 2022 | |
Trade and other receivables [abstract] | |
Trade receivables | 2 2 At December 31, (Euro thousands) 2022 2021 Trade receivables 55,079 46,089 Loss allowance (6,211 ) (6,308 ) Total trade receivables 48,868 39,781 The trade receivables are comprised essentially of receivables from wholesalers or agents, who are limited in number and with whom the Group maintains long-term relationships. The following table provides a breakdown for the loss allowance: For the years ended December 31, (Euro thousands) 2022 2021 At January 1, 6,308 5,904 Business combination — 358 Provisions 1,363 626 Write off (1,551 ) (709 ) Net foreign exchange difference s 91 129 At December 31, 6,211 6,308 For each of the fiscal years presented, no single customer accounted for more than 5% of the Group’s consolidated revenue. The present value of trade receivables is identical to its carrying amount. |
Other current assets
Other current assets | 12 Months Ended |
Dec. 31, 2022 | |
Other Current Assets [Abstract] | |
Other current assets | 23. Other current assets At December 31, (Euro thousands) 2022 2021 Tax recoverable 10,164 10,449 Advances and payments on account to vendors 7,238 7,496 Prepaid expenses 6,205 5,491 Deposits of rental, utility and other 2,055 1,766 Governmental grants — 9,462 Other 4,805 7,042 Total other current assets 30,467 41,706 |
Cash and bank balances
Cash and bank balances | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents [abstract] | |
Cash and bank balances | 24. Cash and bank balances At December 31, (Euro thousands) 2022 2021 Cash on hand 391 376 Bank balances 91,506 88,296 Total cash and cash equivalents 91,897 88,672 Restricted cash — 309 Total cash and bank balances 91,897 88,981 Cash and cash equivalents include cash on hand and bank balances. As at December 31, 202 1 thousand general . There are 2022. The following table provides a reconciliation of cash and cash equivalents per cash flow statement: At December 31, (Euro thousands) 2022 2021 Total cash and cash equivalent s 91,897 88,672 Bank overdrafts (148 ) (14 ) Net cash and cash equivalents per cash flow statement 91,749 88,658 |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about borrowings [abstract] | |
Borrowings | 2 5 Borrowings The following table provides a breakdown for non-current 2022 2021 (Euro thousands) Guaranteed Secured Unsecured Total Guaranteed Secured Unsecured Total At January 1, 12,457 7,840 46,474 66,771 1,500 1,452 15,885 18,837 Repayments (1,440 ) (112,559 ) (111,018 ) (225,017 ) (2,103 ) (93,709 ) (20,775 ) (116,587 ) Conversion of debt to equity — — — — — — (25,035 ) (25,035 ) Debt restructuring (1) — — — — — — (7,380 ) (7,380 ) Business combination — — — — 12,700 — 459 13,159 Proceeds 20 112,511 78,198 190,729 360 99,702 76,112 176,174 Net foreign exchange difference — 491 511 1,002 — 395 7,208 7,603 At December 31 , 11,037 8,283 14,165 33,485 12,457 7,840 46,474 66,771 Repayable: - Within one year 3,284 8,283 3,803 15,370 1,422 7,840 46,297 55,559 - In the second year 3,337 — — 3,337 3,282 — — 3,282 - In the third year 3,166 — — 3,166 3,337 — — 3,337 - Over three years 1,250 — 10,362 11,612 4,416 — 177 4,593 11,037 8,283 14,165 33,485 12,457 7,840 46,474 66,771 Portion classified as current liabilities (3,284 ) (8,283 ) (3,803 ) (15,370 ) (1,422 ) (7,840 ) (46,297 ) (55,559 ) Non-current 7,753 — 10,362 18,115 11,035 — 177 11,212 As at December 31, 202 2 As at Dece m 2 At December 31, (Euro thousands) 2022 2021 Pledge of assets: - Property, plant and equipment 10,535 9,345 - Inventories 20,333 19,187 - Other current assets 2,786 — - Trade receivables 2,566 2,493 At December 31, 36,220 31,025 Apart from the above, certain borrowings are guaranteed by two subsidiaries, namely St. John Knits, Inc. and St. John Canada Corporation as at December 31, 2022. The unsecured borrowings are principally used for operation of the Group. The borrowings at rates ranging from 3.06% to 12.31% (2021: 0.00% to 10.00%) per annum. The main terms of the borrowings are detailed as follows: At December 31, 2022 Borrower Interest Terms Expiry date Of which current Of which non-current (Euro thousands) Fosun Fashion Brand Management Co.,Limited Fixed 7.50% January 2023 633 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% February 2023 75 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% March 2023 283 — St. John Knits, Inc. Variable LIBOR+7.50% April 2023 8,283 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% April 2023 296 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% May 2023 294 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% June 2023 317 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% July 2023 606 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% August 2023 269 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% September 2023 269 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% October 2023 263 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% November 2023 229 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% December 2023 269 — Sergio Rossi S.p.A Variable ECB+6.00% September 2025 784 1,502 Sergio Rossi S.p.A Variable Euribor 3m+1.90% June 2026 2,500 6,250 Fosun Fashion (Shanghai) Consulting Fixed 10.00% December 2027 — 10,363 Total 15,370 18,115 At December 31, 2021 Borrower Interest Terms Expiry date Of which current Of which non-current (Euro thousands) Sergio Rossi S.p.A Fixed 0.90% March 2022 1 — Sergio Rossi S.p.A Fixed 1.45% April 2022 458 — Fosun Fashion Group (Cayman) Limited Fixed 10.00% April 2022 16,337 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% June 2022 166 — Fosun Fashion Group (Cayman) Limited Fixed 10.00% June 2022 23,550 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% August 2022 111 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% September 2022 376 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% October 2022 103 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% November 2022 348 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% December 2022 337 — Fosun Fashion (Shanghai) Consulting Management Co., Fixed 10.00% December 2022 4,510 — St. John Knits, Inc. Variable LIBOR+7.50% April 2023 7,840 — Fosun Fashion Brand Management Co.,Limited Interest free 0.00% December 2023 — 177 Sergio Rossi S.p.A Variable ECB+6.00% September 2025 172 2,285 Sergio Rossi S.p.A Variable Euribor 3m+1.90% June 2026 1,250 8,750 Total 55,559 11,212 Notes: (1) On July 21, 2021, the Group and each of certain bankers (the “Banks”) entered into a debt restructuring deed (the “Debt Restructuring Deed”), pursuant to which the Banks agree to assign and transfer to the Group all of its rights, titles, benefits and interests in the certain bank borrowings (“Defaulted Bank Borrowings”), for a consideration of approximately Euro8,013 thousand upon fulfilment of certain conditions while the outstanding balance of the Defaulted Bank Borrowings as at the date of the Debt Restructuring Deed was Euro 15,609 thousand. During the year ended December 31, 2021, the Group has repaid total consideration to the Banks and the Defaulted Bank Borrowings have been fully settled. The Group recognized a gain on the debt restructuring in profit or loss. As at December 31, 2021, the Group is not in breach of any loan covenants of any bank borrowings. |
Lease liabilities
Lease liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Lease liabilities [abstract] | |
Lease liabilities | 2 6 (Euro thousands) 2022 2021 At January 1, 140,059 136,885 Additions due to new leases and store renewals 15,606 36,607 Business combination — 13,312 Decrease due to COVID-19 concessions — (80 ) Interest expense 6,658 5,586 Repayment of lease liabilities (including interest expense) (41,364 ) (40,691 ) Contract modifications 19,922 (15,132 ) Disposals (2,516 ) (1,821 ) Net foreign exchange differences 2,226 5,393 At December 31, 140,591 140,059 Of which: Non-current 105,986 102,987 Current 34,605 37,072 In certain countries, leases for stores entail the payment of both minimum amounts and variable amounts, especially for stores with lease payments indexed to revenue. As required by IFRS 16, only the minimum fixed lease payments are capitalized. The following table summarizes the undiscounted contractual cash flows of lease liabilities by maturity date: (Euro thousands) Total contractual Year 1 Year 2 Year 3 Beyond At December 31, 2022 156,626 38,029 30,435 24,573 63,589 At December 31, 2021 166,592 43,687 29,393 21,698 71,814 |
Provisions
Provisions | 12 Months Ended |
Dec. 31, 2022 | |
Provisions [abstract] | |
Provisions | 2 7 The Provisions, which amount to Euro7,125 thousand in 2022 (2021: Euro thousand) represent management’s best estimate of the potential liabilities. In managements’ opinion, based on the information available to them, the total amount allocated for risks and charges at the reporting date is adequate in respect of the liabilities that could arise from the underlying circumstances. The following tables show the movement of the provisions in 2022 and 2021: (Euro thousands) Provisions for Provisions for Other Total At January 1, 2021 798 3,676 1,302 5,776 Of which current — 1,914 576 2,490 Of which non-current 798 1,762 726 3,286 Provisions 1,036 536 133 1,705 Business combination — 942 — 942 Releases (39 ) (32 ) (285 ) (356 ) Utilizations (21 ) (956 ) — (977 ) Exchange differences — 217 — 217 At December 31, 2021 1,774 4,383 1,150 7,307 Of which current — 2,476 665 3,141 Of which non-current 1,774 1,907 485 4,166 Provisions 991 1,060 364 2,415 Releases (627 ) (786 ) (19 ) (1,432 ) Utilizations — (869 ) (457 ) (1,326 ) Exchange differences — 185 (24 ) 161 At December 31, 2022 2,138 3,973 1,014 7,125 Of which current 12 2,470 532 3,014 Of which non-current 2,126 1,503 482 4,111 The The Group is a defendant in various other legal and fiscal lawsuits arising in the ordinary course of business. It is the opinion of the management of the Company that it has meritorious defenses against all such outstanding claims, which the Company will vigorously pursue, and that the outcome of such claims, individually or in the aggregate, will not have a material adverse effect on the Group’s consolidated financial position or results of operations. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2022 | |
Employee Benefits [Abstract] | |
Disclosure of employee benefits [text block] | 2 8 The following table shows the employee benefits of the Group. At December 31, (Euro thousands) 2022 2021 Post-employee benefits 12,543 16,016 Other long-term employee benefits 2,585 2,448 Total long-term employee benefits 15,128 18,464 The net balance of post-employee benefits as at December 31, 2022 is a liability of Euro12,543 thousand (Euro16,016 thousand as of December 31, 2021) and a The following table presents the changes in long-term employee benefits: (Euro thousands) Defined-benefit plan in Italy (TFR) Defined-benefit Other long-term employee benefits Total At January 1, 2021 2,492 14,555 2,038 19,085 Business combination 962 — — 962 Current service costs 83 609 747 1,439 Interest expenses 6 107 10 123 Actuarial losses in other comprehensive loss 360 120 — 480 Actuarial gains in profit or loss — — (184 ) (184 ) Benefits paid (909 ) (2,289 ) (169 ) (3,367 ) Contributions — (100 ) — (100 ) Exchange differences 3 17 6 26 At December 31, 2021 2,997 13,019 2,448 18,464 Current service costs 61 547 546 1,154 Interest expenses 33 137 19 189 Actuarial gains in other comprehensive loss (425 ) (1,690 ) (69 ) (2,184 ) Actuarial gains in profit or loss — — (152 ) (152 ) Benefits paid (305 ) (1,565 ) (137 ) (2,007 ) Contributions — (277 ) (70 ) (347 ) Exchange difference s — 11 — 11 At December 31, 2022 2,361 10,182 2,585 15,128 The current service costs and interest expenses are recognized in the statement of profit or loss. The actuarial differences for other long-term employee benefits are also recognized in the statement of profit or loss. The breakdown of the d e At December 31, (Euro thousands) 2022 2021 Defined-benefit plan in Italy - Italian leaving indemnities 2,361 2,997 Defined-benefit plans in Austria - Severance payments 6,201 8,139 - Pensions liability 3,981 4,880 10,182 13,019 Total defined-benefit obligations 12,543 16,016 Defined-benefit plan in Italy Defined-benefit plan in Italy was Trattamento di Fine Rapporto (“TFR”), a legally required end-of-service allowance, paid regardless of the reason for the employee’s departure from the company. Defined-benefit plans in Austria These commitments include the legal requirements for entitled employees who joined the Austrian parent company before 2003 to a one-off As at December 31, 2022, the fair value of defined-benefit plans attributable to Group companies operating in the Austria is a net recognized commitment of Euro10.18 m illion (December 31, 2021: Euro million). It is detailed below: At December 31, (Euro thousands) 2022 2021 Fair value of plan liabilities 11,612 14,263 Fair value of plan assets (1,430 ) (1,244 ) Defined-benefit plans in Austria 10,182 13,019 The composition of the m a At December 31, (Euro thousands) 2022 2021 Equity investments 666 614 Real estates 423 323 Bonds 137 130 Alternative investments 108 65 Liquid funds 96 112 Total plan assets 1,430 1,244 The main actuarial assumptions used are as follows: At December 31, 2022 At December 31, 2021 Defined-benefit Italy (TFR) Defined-benefit Austria Defined-benefit Italy (TFR) Defined-benefit plans in Austria Average duration of plan (years) 8.5~17.47 7.60~11.00 9.80~14.90 9.10~13.20 Discount rate 3.01%~3.86% 4.09%~4.16% 0.44% 0.99%~1.23% Inflation rate 2.59%~4.53% N.A. 1.75% N.A. Salary increase rate 2.55% 3.00%~7.50% 2.81% 2.30% For the demographic assumptions used in measuring the defined benefit liabilities, the figure used as a benchmark for the mortality rate is the standard one for each local population, broken down by age and gender, while for the ulated based o With respect to the December 31, 2022 liability, a sensitivity analysis was performed the variables |
Other current liabilities
Other current liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Other current liabilities [Abstract] | |
Other current liabilities | 2 9 At December 31, (Euro thousands) 2022 2021 Financing fund 23,519 — Payroll and employee benefits payables 23,443 25,309 Accrued expenses 23,336 14,484 Tax payables 9,561 8,975 Warrant liabilities 9,002 — Customer advances 8,535 8,718 Due to related companies 2,020 5,059 Rental payable 1,063 1,989 Other 6,002 4,126 Total other current liabilities 106,481 68,660 Financing fund Financing fund is the investment to be made by Meritz Securities Co., Ltd. (“Meritz”) in the Company. On October 16, 2022, FFG and LGHL entered into the Meritz p p s a ordinary shares of FFG (“FFG Private Placement Subscription Shares”) at a subscription price equal to USD and the FFG preferred collateral share with par value Euro0.0001 per share (“FFG Collateral Share”) USD (collectively “ which Half of the Meritz Investment in the amount of USD USD under the Securities Act (“Rule 144”) USD events, the lapse of certain LGHL’s call option or the third USD non-voting Meritz Investment may require the Company to deliver cash or another financial asset, or otherwise to settle it in such a way that it would be a financial liability, in the event of the occurrence or non-occurrence of uncertain future events that are beyond the control of the Company. The Company does not have the unconditional right to avoid delivering cash or another financial asset. Therefore, Meritz Investment is recognized as a financial liability, and relevant shares issued by FFG were regarded as treasury shares which were converted into 4,999 thousand LGHL treasury shares on Closing Date. Warrant liabilities Breakdown for warrant liabilities: At December 31, (Euro thousands) 2022 2021 Public Warrant 5,826 — Private Placement Warrant 3,176 — Total warrant liabilities 9,002 — On December 14, 2022, as result of Reverse Recapitalization: • 20,699,969 outstanding PCAC public warrants were converted to an equivalent number of LGHL public warrants representing a right to acquire ordinary shares of LGHL which were measured at fair value by using the Euro equivalent of the closing price of PCAC warrants on December 14, 2022, amounting to a total of Euro5,261 thousand. • 11,280,000 PCAC private placement warrants were exchanged for an equivalent number of LGHL private placement warrants representing a right to acquire ordinary shares of LGHL which were measured at fair value using a Black-Scholes model, amounting to a total of Euro2,609 thousand. Each public warrant entitles the holder to purchase one Ordinary Share at a price of USD11.50 per share and may be exercised within 5 years from the completion of the Reverse Recapitalization. The public warrants may be redeemed by the Company: • at a price of USD0.01 per warrant, if, and only if, the last reported sale price of the LGHL ordinary shares equals or exceeds USD18.00 per share for any 20 trading days within a 30-trading • at a price of USD0.10 per warrant, if, and only if, the last reported sale price of the LGHL ordinary shares equals or exceeds USD10.00 per share for any 20 trading days within a 30-trading The exercise price and number of LGHL ordinary shares issuable on exercise of the public warrants, as well as the terms of redemption, may be subject to adjustments in certain circumstances, including, among other events, in the event of a share dividend, extraordinary dividend or LGHL’s recapitalization, reorganization, merger or consolidation. Private placement warrants are identical to public warrants in all material respects, except that with respect to the private placement warrants held by the Sponsor, so long as they are held by the Sponsor or its permitted transferees, such private placement warrants (i) are not redeemable subject to limited exceptions, (ii) may not, subject to certain limited exceptions, be transferred, assigned or sold by the holder until January 13, 2023, which is 30 days after the completion of the Reverse Recapitalization The warrants are listed on NYSE under the trading symbol “LANV-WT”. As at December 31, 2022, million of the warrants were registered for resale while the remaining million warrants were in the process of registration for resale. On April 3, 2023, the registration statement on Form F-1 is declared effective. At December 31, 2022, all of the public warrants and private placement warrants were outstanding and recognized as liabilities at fair value. For the year ended December 31, 2022, the Group recorded warrant liabilities of Euro9.00 million million . |
Share Capital
Share Capital | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of classes of share capital [abstract] | |
Share capital | 30 As outlined in note 1, the consolidated financial statements are prepared as a continuation of the financial statements of FFG, except for equity, which has been adjusted to reflect the legal capital structure of LGHL. Movements in FFG ordinary shares, preferred shares and FFG Collateral Share (collectively “FFG Shares”) Number of Nominal value of shares Share premium Issued and paid: As at January 1, 2020 265,731 265,731 45,882 Issuance of Ordinary Shares of Euro1.00 each 23,434 23,434 24,279 As at December 31, 2020 289,165 289,165 70,161 Issuance of s p s 50,091 50,091 67,124 Issuance of c n on-voting o s 3 32,130 3 — As at December 31, 2021 371,386 339,259 137,285 Issuance (Note 29) 18,569 18,569 6,454 Issuance of a FFG Collateral Share of * * * 389,955 357,828 143,739 Conversion from FFG Shares LGHL 105,000 * 143,739 Exchange of LGHL ordinary shares as part of (105,000 ) (* ) (143,739 ) As at Closing Date — — — * Less than 1,000 shares or Euro1,000. Ordinary shares carry the following rights: the right to vote in ordinary and extraordinary shareholders meetings; the right to a share in profits (if distributed) in proportion to the share of capital held; the right to repayment of capital in the event of liquidation; pre-emptive Each series B preferred share has the same voting rights as the ordinary share. The holder of series B preferred shares prior and in preference to any distribution of the Company to holders of ordinary shares upon the occurrence of a liquidation event. Moreover, series B preferred shares are convertible into ordinary shares at a conversation ratio of 1:1 according to Company’s bylaws. Pursuant to the Company’s Memorandum of Association, the Company does not hold an unavoidable obligation to i) deliver cash or other financial assets to series B preferred shareholders; ii) to exchange financial assets or financial liabilities with series B preferred shareholders that are unfavorable to the Company; and iii) to deliver a variable number of the Company’s own ordinary share. Hence, such contribution is recognized as equity in accordance with the relevant IFRS. On December 14, 2022 the outstanding FFG ordinary shares and outstanding FFG Collateral Share was canceled in or right to receive one LGHL convertible preference share. Movements in LGHL ordinary shares and convertible preference share (collectively “LGHL Shares”): Number of ordinary Nominal value of shares Share premium Issued and paid: As at Closing Date — — 143,739 Issuance of LGHL shares as part of Reverse Recapitalization - Exchange of ordinary shares 105,000 * 357,825 - Exchange of convertible preference share * * * - Merger with PCAC 10,644 * 99,204 - Ordinary shares of USD0.000001 each to third s 15,327 * 142,733 As at December 31, 2022 130,971 * 743,501 * Less than 1,000 shares or Euro As of December 31, 2022, the share capital amounted to Euro110, comprising 117,319,824 fully paid-up ordinary shares and one convertible preference share with a par value of USD0.000001. Excluding the 13,651,246 treasury shares, there were 117,319,825 shares issued and outstanding as of December 31, 2022. Ordinary share LGHL ordinary shares have a par value of USD Convertible preference share T of the Company has a USD non-voting USD |
Other Reserve
Other Reserve | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Other Reserve [Abstract] | |
Other reserve | 31. Other reserve Other comprehensive income reserve Other reserves Total (Euro thousands) Share premium Cumulative translation adjustment Re-measurement of defined benefit plans Balance at January 1, 2020 45,882 1,757 — (3,032 ) 44,607 Capital injection from shareholders 24,279 — — — 24,279 Employee share-based compensation — — — 5,389 5,389 Debt forgiveness by shareholder — — — 3,176 3,176 Capital contribution from non-controlling interests — — — 119 119 Changes in ownership interest in a subsidiary without change of control — — — (1,084 ) (1,084 ) Currency translation differences — 4,893 — — 4,893 Actuarial reserve relating to employee benefit — — (181 ) — (181 ) Balance at January 1, 2021 70,161 6,650 (181 ) 4,568 81,198 Capital injection from shareholders 67,124 — — — 67,124 Employee share-based compensation — — — 7,208 7,208 Capital contribution from non-controlling — — — 566 566 Changes in ownership interest in a subsidiary without change of control — — — 124 124 Currency translation differences — (6,355 ) — — (6,355 ) Actuarial reserve relating to employee benefit — — (405 ) — (405 ) Balance at December 31, 2021 137,285 295 (586 ) 12,466 149,460 Capital injection from shareholders 6,454 — — — 6,454 Employee share-based compensation — — — 7,431 7,431 Changes in ownership interest in a subsidiary without change of control — — — (396 ) (396 ) Currency translation differences — (1,011 ) — — (1,011 ) Actuarial reserve relating to employee benefit — — 1,261 — 1,261 Issuance of ordinary shares upon Reverse Recapitalization, net of 599,762 — — — 599,762 Balance at December 31, 2022 743,501 (716 ) 675 19,501 762,961 At December 31, 2022, other reserve amounted to Euro599.76 million was net of Euro601.33 million as a result of shares issued as part of the Reverse Recapitalization and transaction costs of Euro1.57 million. Other comprehensive income reserve includes the following: • a translation reserve for the translation differences arising from the consolidation of subsidiaries with a functional • gains and losses on the re-measurement |
Non-Controlling Interests
Non-Controlling Interests | 12 Months Ended |
Dec. 31, 2022 | |
Non controlling Interests [Abstract] | |
Non-controlling interests | 3 2 Non-controlling The following table shows the financial information of consolidated companies not entirely controlled by the Group, as required by IFRS 12. The amounts disclosed for each subsidiary are before intercompany eliminations and at and for the year ended December 31, 2022. (Functional currency thousand) Company Group’s Non- controlling interest percentage Functional Total Total (deficits) Net Net profit/ (loss) Arpège SAS 94 % 6 % Euro 228,869 104,639 119,847 (54,834 ) Wolford AG 58 % 42 % Euro 165,196 8,072 125,514 (34,867 ) St. John Knits International, Incorporated 97 % 3 % USD 93,023 (96,838 ) 85,884 (34,971 ) St. John China Holdings Limited 78 % 22 % HKD 4,967 13,402 3,762 3,771 Sergio Rossi S.p.A 99 % 1 % Euro 73,479 20,609 61,929 (18,124 ) Fosun Fashion Brands Management Co., 80 % 20 % CNY 6,840 1,076 2,844 (2,534 ) |
Share-Based Payment
Share-Based Payment | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share-based payment | 3 3 Prior to consummation of the Reverse Recapitalization, FFG Group had in place equity-settled share-based payment arrangements as follows: • On September 23, 2020, a restricted share units scheme (“the RSUs Scheme”) was adopted for the purpose of recognizing the contribution of participants including its senior management members and consultants. The RSUs Scheme will remain in force for the period of 10 years up to September 22, 2030 and the maximum number of shares to be granted will not exceed 32,129,493 shares. • On September 23, 2020, restricted share units (“RSUs”) to subscribe for an aggregate of 17,051,419 ordinary shares were granted to nine senior management members and consultants. The exercise price of granted restricted share unit is Euro1.00 per share to eight of them and Euro2.04 per share to one of them. The RSUs included certain performance conditions, which required the senior management members and consultants to complete a service period and still in the same position as when granted. The vesting term of the RSUs includes a three-year vesting schedule respectively. The first twenty-five percent (25%) of RSUs immediately vested as of the grant date. The remaining portions vesting schedule consists of a cliff vesting of twenty-five percent (25%) on every anniversary of the grant date. All options shall expire in nine years from the respective grant dates. • On September 23, 2021, RSUs to subscribe for an aggregate of 12,688,696 ordinary shares were granted to 15 senior management members and consultants. The exercise price of granted restricted share unit is Euro2.04 per ordinary share. The RSUs included certain performance conditions, which required the senior management members and consultants to complete a service period and still in the same position as when granted. The vesting term of the RSUs includes a four-year vesting schedule respectively. The vesting schedule consists of a cliff vesting of twenty-five percent (25%) on every anniversary of the grant date. All options shall expire in ten years from the respective grant dates. • In December 2021, a share economic beneficial interest right scheme (the “SEBIRs Scheme”) was adopted that modifies all RSUs originally granted to senior management members and consultants according to the RSUs scheme into share economic beneficial interest rights (“SEBIRs”), in which RSUs that have met the vesting conditions will be converted the same copies of SEBIRs that can be exercised immediately, RSUs that fail to meet the vesting conditions will be converted into the same copies of SEBIRs, vesting period and conditions as those under the original grant agreement. 32,129,493 class B non-voting ordinary shares were issued with the par value of Euro0.0001 to Brilliant Fashion Holdings Limited, which has been established for the SEBIRs Scheme, as the maximum number of shares granted by Brilliant Fashion Holdings Limited to senior management members and consultants under the SEBIRs Scheme. In connection with the Reverse Recapitalization, FFG ordinary shares under SEBIRs Scheme that were outstanding at the time of consummation of the Reverse Recapitalization have been replaced by LGHL ordinary shares, based on an exchange ratio for the right to receive For the years ended December 31, 2022 and 2021, movements in the number of RSUs / copies of SEBIRs granted but not yet vested according to the SEBIRs Scheme and their related weighted average exercise prices are as follows (each copy of SEBIR corresponds to one share of the Company): For the years ended December 31, 2022 2021 Average exercise SEBIRs/RSUs (1) Average exercise SEBIRs/RSUs (1) At January 1, 1.50 8,008 1.10 4,591 Granted — — 2.04 3,417 At December 31, 1.50 8,008 1.50 8,008 (1) the number of shares have been retrospectively restated to reflect the exchange ratio to receive 0.26926188 LGHL Ordinary Shares for each FFG Share. The RSUs and SEBIRs outstanding in thousands at the end of the year have the following expiry dates and exercise prices: Expiry date Exercise price in Euro Shares/Copies (1) 2022 2021 September 22, 2029 1.00 4,168 4,168 September 22, 2029 2.04 423 423 September 22, 2031 2.04 3,417 3,417 8,008 8,008 (1) the number of shares have been retrospectively restated to reflect the exchange ratio to receive 0.26926188 LGHL Ordinary Shares for each FFG Share. The fair value of RSUs granted on September 23, 2020 was determined using the Binomial Option-Pricing Model. The significant inputs into the model included the share price of Euro1.82 per share at the grant date, exercise price shown above, expected annual risk-free interest rate of 0.61%, expected no dividend and volatility of 32.61%. The total fair value of these RSUs was Euro14,652,000. Euro2,571,000 and Euro5,820,000 was charged to administrative expenses for the years ended December 31, 2022 and 2021, respectively. The fair value of RSUs granted on September 23, 2021 was determined using Since the modification of the share-based payment scheme in 2021 does not change the vesting conditions and grant quantity of the original plan, there is no increased service expenses on the modification date. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2022 | |
Related party transactions [abstract] | |
Related party transactions | 3 4 Transactions with directors and executive board management members (key management personnel) Pursuant to IAS 24 — Related Party Disclosures, the related parties of the Group are all entities and individuals capable of exercising control, joint control or significant influence over the Group and its subsidiaries. In addition, members of the Board of Directors and executives with strategic responsibilities and their families are also considered related parties. The following tables summarize remuneration of directors, key executives with strategic responsibilities: For the years ended December 31, (Euro thousands) 2022 2021 2020 Short-term employee benefits (1) 3,320 2,218 1,425 Employee share-based compensation 4,680 4,876 3,751 Total 8,000 7,094 5,176 (1) Includes corporate bodies fees, consultancy fees and personnel compensation. Transactions with related parties In addition to the transactions and balances detailed elsewhere in these financial statements, the Group had the following material transactions with related parties during the year: For the years ended December 31, (Euro thousands) 2022 2021 2020 (i) Proceeds of shareholder loan Fosun International Limited (1) 66,531 79,684 27,238 Shanghai Fosun High Technology (Group) Co., Ltd .(2) 5,853 4,510 — Shanghai Fosun High Technology Group Finance Co., Ltd. (2) 4,053 1,518 — Total proceeds of shareholder loan 76,437 85,712 27,238 (ii) Repayments of shareholder loan Fosun International Limited 106,418 42,642 34,392 Shanghai Fosun High Technology Group Finance Co., Ltd. 1,691 77 — Shanghai Fosun High Technology (Group) Co., Ltd. 177 385 3,214 Total repayments of shareholder loan 108,286 43,104 37,606 (iii) Interest expenses Fosun International Limited 8,355 3,754 1,185 Shanghai Fosun High Technology (Group) Co., Ltd. 762 79 — Shanghai Fosun High Technology Group Finance Co., Ltd. 248 25 — Total interest expenses 9,365 3,858 1,185 (iv) Rental expenses Shanghai Fosun Bund Property Co., Ltd. (3) 1,201 371 — (v) Consulting expenses Shanghai Fosun High Technology (Group) Co., Ltd. — 263 — (vi) Payments on behalf of the Group Shanghai Fosun High Technology (Group) Co., Ltd. 139 147 — Balances with related parties At December 31, (Euro thousands) 2022 2021 (i) Borrowings Shanghai Fosun High Technology (Group) Co., Ltd. 10,363 4,687 Shanghai Fosun High Technology Group Finance Co., Ltd. 3,803 1,441 Fosun International Limited — 39,887 Total borrowings 14,166 46,015 (ii) Other current liabilities Shanghai Fosun High Technology (Group) Co., Ltd. 1,216 542 Shanghai Fosun Bund Property Co., Ltd. 770 — Fosun International Limited 26 4,514 Shanghai Fosun High Technology Group Finance Co., Ltd. 8 3 Total other current liabilities 2,020 5,059 (iii) Other current assets Fosun International Limited 263 — Notes: (1) A shareholder of the Group. (2) Subsidiaries of Fosun International Limited. (3) Joint venture of Fosun International Limited. |
Notes to Consolidated Statement
Notes to Consolidated Statements of Cash Flows | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Notes to consolidated statements of cash flows | 3 5 Major non-cash During the year, the Group had non-cash right-of-use COVID-19 estate other equipment . Proceeds from disposal of long-term assets For the years ended December 31, (Euro thousands) 2022 2021 2020 Net book valu e 1,940 1,101 32,402 Net gain on disposals (Note 11) 964 24,014 40,307 Total proceeds from disposal of long-term assets 2,904 25,115 72,709 Changes in liabilities arising from financing activities The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash (Euro thousands) Borrowings Lease liabilities Interest As at January 1, 2020 62,594 169,410 495 Changes from financing cash flows (20,741 ) (41,601 ) — Interest paid — — (3,327 ) Conversion of debt to equity (23,434 ) — — New leases — 16,594 — Contract modifications — (4,082 ) — Disposals — (593 ) — Interest expense — 7,730 3,478 COVID-19-related — (2,362 ) — Foreign exchange movement 418 (8,211 ) (47 ) As at December 31, 2020 18,837 136,885 599 Changes from financing cash flows 59,587 (40,691 ) — Interest paid — — (1,521 ) Conversion of debt to equity (25,035 ) — — Debt forgiveness by the Group’s shareholder (7,380 ) — — Business combination 13,159 13,312 — New leases — 36,607 — Contract modifications — (15,132 ) — Disposals — (1,821 ) — Interest expense — 5,586 5,357 COVID-19-related — (80 ) — Foreign exchange movement 7,603 5,393 193 As at December 31, 2021 66,771 140,059 4,628 Changes from financing cash flows (34,288 ) (41,364 ) — Interest paid — — (15,808 ) New leases — 15,606 — Contract modifications — 19,922 — Disposals — (2,516 ) — Interest expense — 6,658 11,995 Foreign exchange movement 1,002 2,226 (807 ) As at December 31, 2022 33,485 140,591 8 Total cash outflow for leases The total cash outflow for leases included in the statement of cash flows is as follows: For the years ended December 31, (Euro thousands) 2022 2021 2020 Within operating activitie s (22,614 ) (13,625 ) (5,690 ) Within investing activities (1,454 ) 22,997 (357 ) Within financing activities (41,364 ) (40,691 ) (41,601 ) Total cash outflow for leases (65,432 ) (31,319 ) (47,648 ) |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent events | 3 6 The Group has evaluated subsequent events through April 20 non-adjusting On March 30, 2023, Jeanne Lanvin S.A. (“JLSA”) as the borrower, LGHL as the Guarantor, and Meritz as the Lender entered into a Facility Agreement and JLSA submitted a utilization request to Meritz, which provide for, among other things, the following transactions: • JLSA as the borrower borrows a facility in the amount of JPY3,714,401,030 • In the Facility, JPY3,357,520,000 was transferred directly from Meritz to Itochu as the purchase price on March 30, 31, u z i p • The interest rate on the loan for each interest period relating thereto is 9.10 percent per annum. The interest period for the Facility shall be three months and not extended beyond the termination date which is 3 years after the initial utilization date, i.e. March 30, 2023. The first interest period for the Facility shall start on the initial utilization date or in the case where the loan has already been made, each subsequent interest period shall start on the last day of the preceding interest period relating to that loan. • LGHL as the Guarantor irrevocably and unconditionally provides a guarantee for JLSA in favor of the Lender. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Summary Of Significant Accounting Policies [Abstract] | |
Changes in accounting policies | 3.1 Changes in accounting policies New Standards and Amendments issued by the IASB and applicable to the Group from January 1, 2022 New IFRS Standards and Amendments to existing standards Effective date IFRS 3 References to the Conceptual Framework January 1, 2022 IAS 16 Proceeds before Intended Use January 1, 2022 IAS 37 Onerous Contracts – Cost of Fulfilling a Contract January 1, 2022 Annual Improvements to IFRS Standards 2018-2020 Cycle January 1, 2022 The introduction of these amendments did not have any effect on these Consolidated Financial Statements. New standards, amendments and interpretations not yet effective At the date of authorization of these consolidated financial statements, several new, but not yet effective, Standards and amendments to existing Standards, and Interpretations have been published by the IASB. None of these Standards or amendments to existing Standards have been adopted early by the Group. New IFRS Standards and Amendments to existing standards Effective date IFRS 17 Insurance Contracts January 1, 2023 IFRS 17 and IFRS 4 Amendments to IFRS 17 Insurance Contracts January 1, 2023 IAS 1 Classification of Liabilities as Current or Non-current January 1, 2023 IAS 1 Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) January 1, 2023 IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction’ (Amendments to IAS 12) January 1, 2023 IAS 1 Disclosure of Accounting Policies January 1, 2023 IAS 8 Definition of Accounting Estimates January 1, 2023 Management anticipates that all relevant pronouncements will be adopted for the first period beginning on or after the effective date of the pronouncement. New Standards, amendments and Interpretations not adopted in the current year have not been disclosed as they are not expected to have a material impact on the Group’s Consolidated Financial Statements. |
Basis of consolidation Subsidiaries | 3.2 Basis of consolidation Subsidiaries Subsidiaries Subsidiaries are entities over which the Group has control. Control is achieved when the Group has the power over the investee, it is exposed, or has rights to, variable returns from its involvement with the investee, and has the ability to use its power to affect its returns. Subsidiaries are consolidated on a line by line basis from the date on which the Group obtains control. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. Subsidiaries are deconsolidated from the date when control ceases. When the Group ceases to have control over a subsidiary, it derecognizes the assets (including any goodwill) and liabilities of the subsidiaries at their carrying amounts, derecognizes the carrying amount of non-controlling The Group recognizes any non-controlling acquisition-by-acquisition non-controlling non-controlling All intra-group balances and transactions and any unrealized gains and losses arising from intra-group transactions are eliminated in preparing the Consolidated Financial Statements. Business combinations The Group applies the acquisition method of accounting to account for acquisitions of businesses. The cost of an acquisition is measured as the aggregate of the fair values at the date of exchange of the assets given, liabilities incurred and equity instruments issued. Identifiable assets, liabilities and contingent liabilities acquired or assumed are measured separately at their fair value as of the acquisition date. The excess of the cost of the acquisition over the Group’s interest in the fair value of the identifiable net assets acquired is recorded as goodwill. Positive goodwill will be stated in the consolidated statements of financial position as a separate asset at cost less accumulated impairment losses. Negative goodwill is recognized in the consolidated statements of profit or loss immediately on acquisition as a bargain purchase gain. The allocation of fair values to the identifiable assets acquired and liabilities assumed is based on various assumptions requiring management judgment. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of the Group’s previously held interest in the acquiree is re-measured re-measurement Reverse acquisitions A “reverse acquisition” is a merger of entities in which, for accounting purposes, the legal acquirer is identified as the accounting acquiree and the legal acquiree is identified as the accounting acquirer. The identification of the accounting acquirer and acquiree is based on the principles of business combination accounting. If the accounting acquiree is identified as business, business combination accounting is applied. However if the accounting acquiree does not meet the definition of a business, share-based payment accounting is applied for share based consideration. |
Foreign currency transactions | 3.3 Foreign currency transactions Functional and presentation currency The Consolidated Financial Statements are presented in euros. The functional currency of the Group’s entities is the currency of their primary economic environment. Transactions in foreign currencies are recorded at the exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the foreign currency exchange rate prevailing at that date. Exchange differences arising on the settlement of monetary items or on reporting monetary items at rates different from those at which they were initially recorded during the period or in previous financial statements are recognized in the consolidated statements of profit or loss. Consolidation of foreign entities Upon consolidation, all assets and liabilities of Group entities with a functional currency other than the Euro are translated using the closing rates at the date of the consolidated statements of financial position. Income and expenses are translated into Euro at the average foreign currency exchange rate for the period. Translation differences resulting from the application of this method are recognized within other comprehensive income / (loss) until the disposal of the investment. Average foreign currency exchange rates for the period are used to translate the cash flows of foreign subsidiaries in preparing the consolidated statements of cash flows. Goodwill, assets acquired and liabilities assumed arising from the acquisition of entities with a functional currency other than the Euro are recognized in the Consolidated Financial Statements in the functional currency and translated at the foreign currency exchange rate at the acquisition date. These balances are translated at subsequent balance sheet dates at the relevant foreign currency exchange rate. The principal foreign currency exchange rates used by the Group to translate other currencies into Euro, were as follows: 2022 2021 2020 At December 31 Average At December 31 Average At December 31 Average CNY 7.4229 7.0714 7.2197 7.6372 8.0250 7.8704 CHF 0.9841 1.0036 1.0347 1.0818 1.0844 1.0706 GBP 0.8843 0.8519 0.8389 0.8603 0.9027 0.8891 HKD 8.3095 8.2390 8.8304 9.1986 9.5354 8.8482 INR 88.1789 82.5907 84.3226 87.5124 90.0633 84.4913 JPY 141.7666 137.7370 130.2725 129.8404 126.9056 121.8322 MXN 20.7529 21.0553 23.1683 24.0754 24.4650 24.3566 SEK 11.1472 10.6281 10.2407 10.1418 10.0791 10.4784 SGD 1.4321 1.4499 1.5303 1.5902 1.6273 1.5734 USD 1.0658 1.0521 1.1324 1.1835 1.2299 1.1408 |
Scope of consolidation | 3.4 Scope of consolidation Lanvin Group Holdings Limited is the parent company of the Group and holds, directly or indirectly, interests in the Group’s subsidiaries. The Group’s scope of consolidation at December 31, 2022 and 2021 was as follows: Company Registered office Nominal value of % of Group 2022 2021 Fosun Fashion Group (Cayman) Limited Grand Cayman, Cayman Islands E uro 100.00 N.A. Fosun Fashion Investment Holdings (HK) Limited Hong Kong, P.R.C. HKD100 100.00 100.00 Fosun Fashion (Shanghai) Consulting Management Co., Ltd. Shanghai, P.R.C. USD500,000 100.00 100.00 SJK Investment Holdings Limited Grand Cayman, Cayman Islands USD1,000 100.00 100.00 FFG Investment (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 Fosun Fashion Brand Management Co., Limited Hong Kong, P.R.C. HKD31,878 100.00 100.00 Luminary Talent Limited Hong Kong, P.R.C. HKD1 100.00 100.00 FFG Lily (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 FFG Wisdom (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 Fosun Fashion Brands Management Co., Limited Shanghai, P.R.C. CNY42,393,000 80.00 80.00 Virtuoso Investment Holdings Luxembourg S.à r.l. The Grand Duchy of Luxembourg Euro12,500 100.00 100.00 FFG Lucky SAS Paris, France Euro1 100.00 100.00 Fosun Fashion (Hainan) Industry Development Co., Ltd. Hainan, P.R.C. USD2,000,000 100.00 100.00 Shanghai Fulang Brand Management (Group) Co., Ltd. Shanghai, P.R.C. USD3,000,000 100.00 100.00 Oasis Fashion Holdings Limited Hong Kong, P.R.C. HKD100 100.00 100.00 LANVIN GROUP S.R.L. Milan, Italy Euro10,000 100.00 100.00 Lanv Fashion Pte. Ltd. Singapore SGD1 100.00 — Lanvin Group Fashion (America) Inc. Newark, U.S.A. USD20 100.00 — Arpège SAS Paris, France E uro 94.28 90.61 Wolford AG Breagaz, Austria E uro 58.45 58.45 Raffaele Caruso S.p.A Soragna, Italy Euro2,937,145 100.00 100.00 St. John Knits International, Incorporated Delaware, U.S.A. USD379,547 96.95 96.95 Sergio Rossi S.p.A San Mauro Pascoli, Italy Euro44,084,197 99.03 99.00 JEANNE LANVIN Paris, France Euro16,297,330 94.28 90.61 LANVIN MONTE-CARLO Monaco, Monaco Euro150,000 94.19 90.52 Lanvin Inc. New York, U.S.A. USD12,028,400 94.28 90.61 L3F CROISETTE Paris, France Euro20,000 94.28 90.61 L1 Bal Harbour LLC Miami, U.S.A. USD1,000 94.28 90.61 L2 Crystals LLC Las Vegas, U.S.A. USD1,000 94.28 90.61 L3 Madison LLC New York, U.S.A. USD1,000 94.28 90.61 L4 Rodeo Drive LLC Beverly Hills, U.S.A. USD1,000 94.28 90.61 L5 US ECOM LLC New York, U.S.A. USD1,000 94.28 90.61 L6 MADISON, LLC New York, U.S.A. USD1,000 94.28 90.61 L7 Chicago LLC Chicago, U.S.A. USD1,000 94.28 90.61 L8 South Coast Plaza LLC Costa Mesa, U.S.A. USD1,000 94.28 90.61 L1 SPIGA Srl Milan, Italy Euro46,587 94.28 90.61 L1 Outlet Srl San Remo, Italy Euro10,000 94.28 90.61 L1 Services Srl Padova, Italy Euro10,000 N.A. 90.61 LANVIN JAPAN K.K. Tokyo, Japan JPY100,000,000 94.28 90.61 LANVIN ASIA PACIFIC LIMITED Hong Kong, P.R.C. HKD12,000,000 94.28 90.61 Lans Atelier (SHANGHAI) Trading Co., Ltd. Shanghai, P.R.C. USD50,000,000 94.28 90.61 LANVIN MACAU LIMITED Macao, P.R.C. MOP25,000 94.28 90.61 LANVIN TAIWAN Ltd. Taipei, P.R.C. TWD31,000,000 94.28 90.61 LANVIN LIMITED London, U.K. GBP1 94.28 90.61 Jeanne Lanvin GmbH München, Germany E u ro 94.28 90.61 Wolford Beteiligungs GmbH Bregenz, Austria Euro35,000 58.45 58.45 Wolford proizvodnja in trgovina d.o.o. Murska Sobota, Slovenia Euro500,000 58.45 58.45 Wolford Deutschland GmbH Bielefeld, Germany Euro260,000 58.45 58.45 Wolford (Schweiz) AG Opfikon, Switzerland CHF200,000 58.45 58.45 Wolford London Ltd. London, U.K. GBP100,000 58.45 58.45 Wolford Paris S.A.R.L. Paris, France Euro1,525,000 58.45 58.45 Wolford Italia S.r.l. Mailand, Italy Euro500,000 58.45 58.45 Wolford España S.L. Madrid, Spain Euro60,000 58.45 58.45 Wolford Scandinavia ApS Kopenhagen, Danmark DKK800,000 58.45 58.45 Wolford America, Inc. New York, U.S.A. N.A. 58.45 58.45 Wolford Nederland B.V. Amsterdam, Netherlands Euro50,000 58.45 58.45 Wolford Canada Inc. Vancouver, Canada CAD100 58.45 58.45 Wolford Asia Limited Hong Kong, P.R.C. HKD2,850,000 58.45 58.45 Wolford Belgium N.V. Antwerpen, Belgium Euro124,000 58.45 58.45 Wolford (Shanghai) Trading Co., Ltd. Shanghai, P.R.C. Euro3,000,000 58.45 58.45 Wolford Berangere Paris, France E uro 58.45 58.45 St. John Knits, Inc. California, U.S.A. US D 96.95 96.95 ST. JOHN ASIA LIMITED Hong Kong, P.R.C. HKD1,000,000 96.95 96.95 St. John Canada Corporation Nova Scotia, Canada N.A. 96.95 96.95 St. John China Limited Hong Kong, P.R.C. HKD100 96.95 96.95 St. John China Holdings Limited Hong Kong, P.R.C. USD35,000,000 77.56 77.56 St. John (Shanghai) Trading Co., Ltd. Shanghai, P.R.C. USD7,000,000 77.56 77.56 St. John de Mexico S.A. de C.V. Tijuana Baja, Mexico PES 96.95 96.95 Shanghai Caruso Trading Co., Ltd. Shanghai, P.R.C. CNY1,000,000 100.00 100.00 Sergio Rossi Retail s.r.l. San Mauro Pascoli, Italy Euro30,000 99.03 99.00 Sergio Rossi USA Inc. New York, U.S.A. USD150,000 99.03 99.00 Sergio Rossi UK Limited London, U.K. GBP2,350,000 99.03 99.00 Sergio Rossi Japan Limited Tokyo, Japan JPY100,000,000 99.03 99.00 Sergio Rossi Hong Kong Limited Hong Kong, P.R.C. HKD99,582,000 99.03 99.00 Sergio Rossi Shanghai Trading Limited Shanghai, P.R.C. E uro 99.03 99.00 Sergio Rossi Deutschland GmbH München, Germany Euro25,000 99.03 99.00 |
Property, plant and equipment | 3.5 Proper ty, Cost Property, plant and equipment is initially recognized at cost, which comprises the purchase price, any costs directly attributable to bringing the assets to the location and condition necessary to be capable of operating in the manner intended by management, capitalized borrowing costs and any initial estimate of the costs of dismantling and removing the item and restoring the site on which it is located. Self-constructed assets are initially recognized at their production cost, including labor costs. Subsequent costs are capitalized only if they increase the future economic benefits embodied in the related assets. All other expenditures are expensed as incurred. When parts are replaced, the carrying amount of the parts that are replaced are written off in the consolidated statements of profit or loss. Property, plant and equipment is presented net of accumulated depreciation, calculated on the basis of the useful lives of the assets, and any impairment losses. Depreciation Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Buildings 10 to 50 years Machinery and equipment 3 to 20 years Leasehold improvements 5 to 15 years Office equipment 2 to 10 years Other 2 to Land and assets under construction are not depreciated. If the asset being depreciated consists of separately identifiable components whose useful life differs from that of the other parts making up the asset, depreciation is charged separately for each of its component parts through the application of the “component approach”. Property, plant and equipment is tested for impairment when impairment indicators are identified, such as a scheduled closure of a store or site, a redundancy plan or a downward revision of market forecasts. When an asset’s recoverable amount is less than its net carrying amount, an impairment loss is recognized. Where the recoverable amount of an individual asset cannot be determined precisely, the Group determines the recoverable amount of the cash-generating unit (“CGU”) or group of CGUs to which the asset belongs. |
Goodwill | 3.6 Goodwill Goodwill, an asset that produces future economic benefits but which is not individually identified and separately measured, is initially recognized at cost. Goodwill is not amortized but tested for impairment every year to determine if its value has been impaired. If specific events or altered circumstances indicate the possibility that goodwill has been impaired, the impairment test is performed more frequently. For impairment test purposes, goodwill acquired in a business combination shall be, from the acquisition date, allocated to each of the acquirer’s cash generating units that are expected to benefit from the synergies of the combination. Cash Generating Units are determined based on the organizational structure of the Group and represent groups of assets that generate independent cash inflows from continuing use of the relevant assets. The Group’s Cash Generating Units include brands, sales channels and geographical areas. The CGUs to which goodwill has been allocated are tested for impairment annually and, whenever there is an indication of impairment, the carrying value of the CGU is compared with their recoverable amount. The carrying amount of CGUs tested for impairment for consolidation purposes is represented by the net invested capital, which means the net equity adjusted by the net financial position including the lease liability. Recoverable amount is the higher of fair value less costs to sell and value in use, as calculated based on an estimate of the future cash flows expected to derive from the CGU tested for impairment. Cash flow projections are based on budget, forecast and on long-term estimates prepared by the management. An impairment loss is recognized in profit or loss for the period whenever the recoverable amount of the CGU is lower than its book value. An impairment loss recognized for goodwill is never reversed in subsequent years. |
Intangible assets | 3.7 Intangible assets Only identifiable assets controlled by the Group and capable of producing future economic benefits are included in intangible assets. Intangible assets include brands, trademarks and patents and software. Brands with indefinite useful life Brands with indefinite useful lives are not amortized but are tested for impairment at least annually, or more frequently if facts or circumstances indicate that the asset may be impaired. Intangible assets with a finite useful life Identifiable non-monetary Intangible assets with a finite useful life include trademarks and patents and software. Trademarks and patents Trademarks and patents are recognized at cost or at the value attributed upon acquisition and include the cost of trademark registration in the various countries in which the Group operates, assuming there are no risks or limitations on control over their use. Software Software acquired in-house Intangible assets with a definite useful life are amortized on a straight-line basis at the following periods: Trademarks and patents 3 to 10 years Software 2 to 10 years Other 1 to 5 years |
Leases | 3.8 Leases Right-of-use right-of-use non-cancellable The lease term begins on the “commencement date” of the lease. This is defined as the date on which the lessor makes an underlying asset available for use by a lessee. It is the date on which the lessee initially recognizes and measures right-of-use right-of-use right-of-use The right-of-use right-of-use right-of-use right-of-use re-measured, In addition, options for the extension and early termination of the lease agreements are re-evaluated re-considered minimum Based on the practical expedient set by the “Amendment to IFRS16: COVID-Related Rent Concession”, a lessee is not required to assess whether the COVID-related rent reductions obtained by the lessors are lease modifications. Therefore, the lessee can record such rent reduction as if they were not lease modifications, thus recognizing the entire economic benefit of such discounts immediately through profit or loss. Rent discounts are eligible for the practical expedient if they occur as a direct consequence of the COVID-19 • any rent reduction affects only payments originally due on or before June 30, 2022; • there is no substantive change to the other terms and conditions of the lease; • the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change. A lessee is expected to make judgement about whether other changes are substantive based on its understanding of those changes and based on how they were historically managed by the Group. As a result in the Group’s view, a modification of the contract such as a renewal or the extension of the lease term is to be considered substantive only when it is not consistent with the usual practices applied by the Group and in the industry as a whole. |
Financial instruments | 3.9 Financial instruments The classification of a financial asset is based on the Group’s business model for managing the related financial assets and their contractual cash flows. The Group considers whether the contractual cash flows represent solely payments of principal and interest that are consistent with a basic lending arrangement. Where the contractual terms introduce exposure to risk or volatility that are inconsistent with a basic lending arrangement, the related financial assets are classified and measured at fair value through profit or loss. With the exception of trade receivables that do not contain a significant financing component (or for which the Group has applied the practical expedient available under IFRS 15 - Revenue from contracts with customers (“IFRS 15”)), which are measured at the transaction price (as defined in IFRS 15), all financial assets are initially measured at their fair value plus, in the case of financial assets not at fair value through profit or loss only, transaction costs that are directly attributable to the acquisition of the asset. Measurement subsequent to initial recognition is based on the classification of the financial assets into one of the following categories: • Financial assets at amortized cost; • Financial assets at fair value through other comprehensive income/(loss), with subsequent recycling of cumulative gains and losses to the statement of profit or loss (“FVOCI”); or • Financial assets at fair value through profit or loss (“FVPL”). Financial assets at amortized cost Financial assets at amortized cost are subsequently measured using the effective interest rate method and are subject to impairment testing. Gains and losses are recognized in the statement of profit or loss when the asset is derecognized, modified or impaired. The Group’s financial assets at amortized cost primarily include trade receivables, guarantee deposits and certain other non-current Financial assets at fair value through other comprehensive income/(loss) Financial assets at FVOCI are initially recognized at fair value and subsequent fair value changes are recognized within other comprehensive income/(loss). Interest income, foreign exchange revaluations and impairment losses or reversals are recognized in the consolidated statements of profit or loss. Upon de-recognition, the cumulative reserve of fair value changes recognized within other comprehensive income/(loss) is recycled to profit or loss. The Group’s financial assets at FVOCI primarily include derivative instruments fixed income and floating income securities. Financial assets at fair value through profit or loss Financial assets at FVPL are initially recognized at fair value and subsequent fair value changes are recognized in the consolidated statements of profit or loss. Financial assets at FVTPL include derivative instruments and listed equity investments for which the Group has not irrevocably elected to classify the instruments at FVOCI. Dividends from listed equity investments are recognized as other income in the consolidated statements of profit or loss when the right of payment has been established. The Group’s financial assets measured at FVPL primarily include insurance contracts, equity instruments and fixed income securities, as well as investments in hedge funds and private equity private debts, money market funds, floating income and real estate funds. Reclassification A financial asset is only reclassified when there is a change in the contractual terms that significantly affects the previously expected cash flows or when the Group changes its business model for managing financial assets. Reclassifications are only made prospectively from the reclassification date, without restating any previously recognized gains, losses or interest. Derecognition The Group derecognizes a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. If the Group neither transfers nor retains substantially all the risks and rewards of ownership and continues to control the transferred asset, the Group recognizes its retained interest in the asset and an associated liability for any obligations created or retained. If the Group retains substantially all the risks and rewards of ownership of a transferred financial asset, the Group continues to recognize the financial asset and also recognizes a collateralized borrowing for the proceeds received. On derecognition of a financial asset measured at amortized cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. In addition, on derecognition of an investment in a debt instrument classified as FVOCI, the cumulative gain or loss previously accumulated in the investment revaluation reserve within other comprehensive income/(loss) is reclassified to profit or loss. Impairment of financial assets The Group recognizes a loss allowance for expected credit losses on investments in debt instruments that are measured at amortized cost or at FVOCI, lease receivables, trade receivables and contract assets, as well as on financial guarantee contracts. The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument. The Group always recognizes lifetime expected credit losses for trade receivables, contract assets, lease receivables and securities. The expected credit losses on these financial assets are estimated using a provision matrix based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current as well as the forecast direction of conditions at the reporting date, including time value of money where appropriate. |
Financial liabilities | 3.10 Finan c Financial liabilities include loans, bonds, lease liabilities, trade payables and other liabilities. These instruments are recorded at fair value on initial recognition, net of any costs that can be ascribed to them. Subsequently, the financial liabilities are measured at amortized cost using the effective interest method. The Group derecognizes a financial liability when, and only when, it is extinguished, i.e. when the obligation in the contract is discharged, cancelled or expired. |
Warrant liabilities | 3.11 Warrant liabi li The Group accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms. For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in non-cash |
Cash and bank balances | 3.12 Cash an d Cash and bank balances comprise cash on hand and demand deposits, together with other short-term, highly liquid investments maturing within 90 days from the date of acquisition that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value. Bank overdrafts are included in liabilities. In the consolidated statements of cash flows, cash and cash equivalents are presented net of bank overdrafts. |
Trade receivables and payables | 3.13 Trade receivables and payables Trade receivables are amounts due from clients for goods sold or services provided in the ordinary course of business. Trade receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest rate method, less any loss allowances. Trade receivables are recognized at their nominal value net of the bad debt provision determined on the basis of the requirements set by IFRS 9. According to this standard, receivables are written off following the application of the “expected loss” impairment method together with, if necessary, further impairments recognized upon specific doubtful conditions on the single credit positions. Trade accounts payable are recorded at nominal amount. Transactions denominated in foreign currency are recognized at the exchange rate as at the date of the transaction. At the reporting date, transactions denominated in foreign currencies are translated using the exchange rate as at the reporting date. Gains and losses arising from the translation are reflected in the profit or loss. |
Inventories | 3.14 Invento r Inventories are recognized at the lower of cost (acquisition or production) and net realizable value. Cost includes direct production costs and indirect costs that have been incurred in bringing the inventories to the location and condition necessary to be capable for their use in the production process. Cost is determined on a weighted average basis. Net realizable value is the estimated selling price less the estimated costs of completion and the estimated costs for sale and distribution. Inventories are presented net of provisions for slow moving and obsolete inventories. |
Employee benefits | 3.15 Employee benefits Post-employment benefits The Group operates a number of defined benefit plans, the assets of which are generally held in separate trustee-managed funds. The pension plans are generally funded by payments from employees and the Group, and for defined benefit plans, taking account of the recommendations of independent actuaries. The Group maintains funded and unfunded pension plans. Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on one or more factors such as age, years of service and compensation. For defined benefit plans, the pension expenses are assessed separately for each plan using the projected unit credit method. The projected unit credit method considers each period of service as giving rise to an additional unit of benefit entitlement. Under this method, the cost of providing pensions is charged to the consolidated income statement so as to spread the regular cost over the service lives of employees in accordance with the advice of qualified actuaries who carry out a full valuation of the plans at least every three years. The amounts charged to the consolidated income statement include current service costs, net interest cost (income), past service costs and the effect of any curtailments or settlements. Past service costs are recognized at the earlier of when the amendment/curtailment occurs or when the Group recognizes related restructuring or termination costs. The pension obligations recognized in the consolidated statements of financial position are measured at the present value of the estimated future cash outflows using interest rates based on high-quality corporate bond yields, which have terms to maturity approximating the terms of the related liability, less the fair value of any plan assets. Re-measurements, Re-measurements Where the calculated amount of a defined benefit liability is negative (an asset), the Group recognizes such pension asset to the extent that economic benefits are available to the Group either from refunds or reductions in future contributions. Other long-term employee benefits The Group’s obligations represent the present value of future benefits that employees have earned in return for their service during the current and prior periods. Re-measurement |
Provisions for risks and charges | 3.16 Provisions for risks an d Provisions are recognized when the Group has a present obligation, legal or constructive, as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate of the amount of the obligation can be made. When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognized as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably. A restructuring provision is recognized when the Group has developed a detailed formal plan for the restructuring and has raised a valid expectation in those affected that it will carry out the restructuring by starting to implement the plan or announcing its main features to those affected by it. The measurement of a restructuring provision includes only the direct expenditures arising from the restructuring, which are those amounts that are both necessarily entailed by the restructuring and not associated with the ongoing activities of the entity. Present obligations arising under onerous contracts are recognized and measured as provisions. An onerous contract is considered to exist where the Group has a contract under which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits expected to be received under it. Provisions for the costs to restore leased plant assets to their original condition, as required by the terms and conditions of the lease, are recognized when the obligation is incurred, either at the commencement date or as a consequence of having used the underlying asset during a particular period of the lease, at the directors’ best estimate of the expenditure that would be required to restore the assets. Estimates are regularly reviewed and adjusted as appropriate for new circumstances. |
Share Capital | 3.17 Share Ca p Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Treasury shares, whether specifically allocated for grant to the Group’s senior managements and consultants or allocated to the liquidity agreement or in any other case, as well as directly related transaction costs, are deducted directly from equity attributable to the Group. On disposal, the consideration received for these shares, net of transaction costs and the related tax impacts, is also recognized directly in equity attributable to the Group. |
Revenue recognition | 3.18 Revenue recognition Revenue mainly comprises sales of goods, together with income from royalties and operating licenses. Revenue is measured at the transaction price which is based on the amount of consideration that the Group expects to receive in exchange for transferring the promised goods or services to the customer and excludes any sales incentives, rebates or discounts (including end-of-season Revenue from wholesale operations and direct sales to customers, through retail stores and online channels, is recognized at a point in time when control over a product is transferred to the customers. Revenue from sales of services is recognized when the Group satisfies its performance obligation. Under the Group’s standard contract terms, retail customers are entitled to a right to return unsold or outdated products within specified days, which enables them to receive a full or partial cash refund of the amount paid, a store coupon or another product in exchange. Exchanges of one product for another of the same type, quality, condition and price are not considered returns, unless product exchange occurs after specified days from the original sale. Wholesalers generally do not have a contractual right of return. Provisions for returns are presented in the consolidated statements of financial position under liabilities with a corresponding adjustment to revenue in respect of future refunds. A corresponding asset (with an offsetting adjustment to cost of sales) representing the right to recover the goods from the customer is also recognized. The Group uses its historical experience to estimate the number of returns on a portfolio level using the expected value method. Royalties received with respect to operating licenses are recognized in accordance with the contractual obligations specific to each agreement, which is generally when the sales occur for sales-based licensing agreements, otherwise over time as the performance obligations are satisfied for other types of licensing agreements. Payment for retail sales is typically required at the time of purchase or within specified days, or, on occasion, in advance. Payment terms for wholesale sales are generally longer and the Group may adopt various measures aimed at ensuring collectability of the related consideration, such as requiring customers to provide advanced payments or financial guarantees, as well as performing credit analysis of customers and obtaining insurance over receivables. |
Personnel costs | 3.19 Personnel c o Personnel expenses primarily consist of wages, salaries and payroll taxes, expenses relating to pensions and other post-employment benefits under defined benefit plans. Wages, salaries and payroll taxes include fixed remuneration, variable short-term remuneration, long-term remuneration plans, expenses related to employee profit-sharing and other incentive plans, and any associated payroll taxes. Other personnel expenses notably include severance paid to individual employees or as part of a restructuring plan, and directors’ fees paid to directors of Group entities. |
Advertising and promotion expenses | 3.20 Advertising and promotion expe n Advertising and promotion expenses include the costs of producing advertising media, purchasing media space, manufacturing samples, publishing catalogs and, in general, the cost of all activities designed to promote the Group’s brands and products. Advertising and promotion expenses are recorded within marketing and selling expenses upon receipt or production of goods or upon completion of services rendered. |
Government grants | 3.21 Government gr a Government grants are recognized at their fair value where there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the costs, for which it is intended to compensate, are expensed. Where the grant relates to an asset, the fair value is credited to a deferred income account and is released to the consolidated statements of profit or loss over the expected useful life of the relevant asset by equal annual instalments. |
Equity-settled share-based payments | 3.22 Equity-settled share-based payments The Group’s management operates an equity-settled, share-based compensation plan, under which the entity receives services from directors and employees of the Group as consideration for equity instruments of the Group. The fair value of the employee services received in exchange for the grant of the equity instruments is recognized as an expense. The total amount to be expensed is determined by reference to the fair value of the equity instrument granted: • including any market performance conditions (for example, an entity’s share price); • excluding the impact of any service and non-market • including the impact of any non-vesting At the end of each reporting period, the Group’s management revises its estimates of the number of equity instrument that are expected to vest based on the non-marketing In addition, in some circumstances employees may provide services in advance of the grant date and therefore the grant date’s fair value is estimated for the purposes of recognizing the expense during the period between service commencement period and grant date. Where there is any modification of terms and conditions which increases the fair value of the equity instruments granted, the Group includes the incremental fair value granted in the measurement of the amount recognized for the services received over the remainder of the vesting period. The incremental fair value is the difference between the fair value of the modified equity instrument and that of the original equity instrument, both estimated as at the date of the modification. An expense based on the incremental fair value is recognized over the period from the modification date to the date when the modified equity instruments vest in addition to any amount in respect of the original instrument, which should continue to be recognized over the remainder of the original vesting period. |
Income taxes | 3.23 Incom e e Income tax expense comprises the current and deferred tax expenses. Current tax The tax currently payable is based on taxable profit for the year. The Group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. A provision is recognized for those matters for which the tax determination is uncertain but it is considered probable that there will be a future outflow of funds to a tax authority. Deferred tax Deferred tax is calculated using the liability method on all temporary differences between the carrying amounts recorded in the consolidated balance sheet and the tax value of assets and liabilities, except for goodwill that is not deductible for tax purposes and certain other exceptions. The valuation of deferred tax balances depends on the way in which the Group intends to recover or settle the carrying amount of assets and liabilities, using tax rates that have been enacted or substantively enacted at the end of the reporting period. Deferred tax assets and liabilities are not discounted and are presented separately in the balance sheet within non-current |
Earnings/(loss) per share | 3.24 Earnings/(loss) per share Basic Basic earnings/(loss) per share is calculated by dividing the profit or loss attributable to shareholders of the parent company by the weighted average number of ordinary shares outstanding during the period, excluding treasury shares. Diluted Diluted earnings/(loss) per share is calculated by dividing the profit or loss attributable to holders of the parent company, excluding treasury shares, by the weighted average number of ordinary shares outstanding, taking into account all dilutive potential ordinary shares. To calculate diluted earnings/(loss) per share, the weighted average number of shares outstanding is adjusted assuming the conversion of all potential shares with dilutive effects, and the entity’s net profit is adjusted to take into account any effects, net of taxes, of the conversion. |
Segment information | 3.2 5 m Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing the performance of the operating segments, has been identified as the Group’s chief executive officer (the Chief Operating Decision Maker or “CODM”). |
Non-underlying items | 3.2 6 No n-u Non-underlying non-underlying |
Rounding of amount | 3.2 7 All amounts disclosed in the financial statements and notes have been rounded off to the nearest thousand Euro unless otherwise stated. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Summary Of Significant Accounting Policies [Abstract] | |
Summary of new standards and amendments issued by the IASB | New Standards and Amendments issued by the IASB and applicable to the Group from January 1, 2022 New IFRS Standards and Amendments to existing standards Effective date IFRS 3 References to the Conceptual Framework January 1, 2022 IAS 16 Proceeds before Intended Use January 1, 2022 IAS 37 Onerous Contracts – Cost of Fulfilling a Contract January 1, 2022 Annual Improvements to IFRS Standards 2018-2020 Cycle January 1, 2022 New standards, amendments and interpretations not yet effective At the date of authorization of these consolidated financial statements, several new, but not yet effective, Standards and amendments to existing Standards, and Interpretations have been published by the IASB. None of these Standards or amendments to existing Standards have been adopted early by the Group. New IFRS Standards and Amendments to existing standards Effective date IFRS 17 Insurance Contracts January 1, 2023 IFRS 17 and IFRS 4 Amendments to IFRS 17 Insurance Contracts January 1, 2023 IAS 1 Classification of Liabilities as Current or Non-current January 1, 2023 IAS 1 Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) January 1, 2023 IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction’ (Amendments to IAS 12) January 1, 2023 IAS 1 Disclosure of Accounting Policies January 1, 2023 IAS 8 Definition of Accounting Estimates January 1, 2023 |
Summary of principal foreign currency exchange rates used by the Group | The principal foreign currency exchange rates used by the Group to translate other currencies into Euro, were as follows: 2022 2021 2020 At December 31 Average At December 31 Average At December 31 Average CNY 7.4229 7.0714 7.2197 7.6372 8.0250 7.8704 CHF 0.9841 1.0036 1.0347 1.0818 1.0844 1.0706 GBP 0.8843 0.8519 0.8389 0.8603 0.9027 0.8891 HKD 8.3095 8.2390 8.8304 9.1986 9.5354 8.8482 INR 88.1789 82.5907 84.3226 87.5124 90.0633 84.4913 JPY 141.7666 137.7370 130.2725 129.8404 126.9056 121.8322 MXN 20.7529 21.0553 23.1683 24.0754 24.4650 24.3566 SEK 11.1472 10.6281 10.2407 10.1418 10.0791 10.4784 SGD 1.4321 1.4499 1.5303 1.5902 1.6273 1.5734 USD 1.0658 1.0521 1.1324 1.1835 1.2299 1.1408 |
Summary of scope of consolidation | The Group’s scope of consolidation at December 31, 2022 and 2021 was as follows: Company Registered office Nominal value of % of Group 2022 2021 Fosun Fashion Group (Cayman) Limited Grand Cayman, Cayman Islands E uro 100.00 N.A. Fosun Fashion Investment Holdings (HK) Limited Hong Kong, P.R.C. HKD100 100.00 100.00 Fosun Fashion (Shanghai) Consulting Management Co., Ltd. Shanghai, P.R.C. USD500,000 100.00 100.00 SJK Investment Holdings Limited Grand Cayman, Cayman Islands USD1,000 100.00 100.00 FFG Investment (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 Fosun Fashion Brand Management Co., Limited Hong Kong, P.R.C. HKD31,878 100.00 100.00 Luminary Talent Limited Hong Kong, P.R.C. HKD1 100.00 100.00 FFG Lily (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 FFG Wisdom (Luxembourg) S.à r.l. The Grand Duchy of Luxembourg Euro12,000 100.00 100.00 Fosun Fashion Brands Management Co., Limited Shanghai, P.R.C. CNY42,393,000 80.00 80.00 Virtuoso Investment Holdings Luxembourg S.à r.l. The Grand Duchy of Luxembourg Euro12,500 100.00 100.00 FFG Lucky SAS Paris, France Euro1 100.00 100.00 Fosun Fashion (Hainan) Industry Development Co., Ltd. Hainan, P.R.C. USD2,000,000 100.00 100.00 Shanghai Fulang Brand Management (Group) Co., Ltd. Shanghai, P.R.C. USD3,000,000 100.00 100.00 Oasis Fashion Holdings Limited Hong Kong, P.R.C. HKD100 100.00 100.00 LANVIN GROUP S.R.L. Milan, Italy Euro10,000 100.00 100.00 Lanv Fashion Pte. Ltd. Singapore SGD1 100.00 — Lanvin Group Fashion (America) Inc. Newark, U.S.A. USD20 100.00 — Arpège SAS Paris, France E uro 94.28 90.61 Wolford AG Breagaz, Austria E uro 58.45 58.45 Raffaele Caruso S.p.A Soragna, Italy Euro2,937,145 100.00 100.00 St. John Knits International, Incorporated Delaware, U.S.A. USD379,547 96.95 96.95 Sergio Rossi S.p.A San Mauro Pascoli, Italy Euro44,084,197 99.03 99.00 JEANNE LANVIN Paris, France Euro16,297,330 94.28 90.61 LANVIN MONTE-CARLO Monaco, Monaco Euro150,000 94.19 90.52 Lanvin Inc. New York, U.S.A. USD12,028,400 94.28 90.61 L3F CROISETTE Paris, France Euro20,000 94.28 90.61 L1 Bal Harbour LLC Miami, U.S.A. USD1,000 94.28 90.61 L2 Crystals LLC Las Vegas, U.S.A. USD1,000 94.28 90.61 L3 Madison LLC New York, U.S.A. USD1,000 94.28 90.61 L4 Rodeo Drive LLC Beverly Hills, U.S.A. USD1,000 94.28 90.61 L5 US ECOM LLC New York, U.S.A. USD1,000 94.28 90.61 L6 MADISON, LLC New York, U.S.A. USD1,000 94.28 90.61 L7 Chicago LLC Chicago, U.S.A. USD1,000 94.28 90.61 L8 South Coast Plaza LLC Costa Mesa, U.S.A. USD1,000 94.28 90.61 L1 SPIGA Srl Milan, Italy Euro46,587 94.28 90.61 L1 Outlet Srl San Remo, Italy Euro10,000 94.28 90.61 L1 Services Srl Padova, Italy Euro10,000 N.A. 90.61 LANVIN JAPAN K.K. Tokyo, Japan JPY100,000,000 94.28 90.61 LANVIN ASIA PACIFIC LIMITED Hong Kong, P.R.C. HKD12,000,000 94.28 90.61 Lans Atelier (SHANGHAI) Trading Co., Ltd. Shanghai, P.R.C. USD50,000,000 94.28 90.61 LANVIN MACAU LIMITED Macao, P.R.C. MOP25,000 94.28 90.61 LANVIN TAIWAN Ltd. Taipei, P.R.C. TWD31,000,000 94.28 90.61 LANVIN LIMITED London, U.K. GBP1 94.28 90.61 Jeanne Lanvin GmbH München, Germany E u ro 94.28 90.61 Wolford Beteiligungs GmbH Bregenz, Austria Euro35,000 58.45 58.45 Wolford proizvodnja in trgovina d.o.o. Murska Sobota, Slovenia Euro500,000 58.45 58.45 Wolford Deutschland GmbH Bielefeld, Germany Euro260,000 58.45 58.45 Wolford (Schweiz) AG Opfikon, Switzerland CHF200,000 58.45 58.45 Wolford London Ltd. London, U.K. GBP100,000 58.45 58.45 Wolford Paris S.A.R.L. Paris, France Euro1,525,000 58.45 58.45 Wolford Italia S.r.l. Mailand, Italy Euro500,000 58.45 58.45 Wolford España S.L. Madrid, Spain Euro60,000 58.45 58.45 Wolford Scandinavia ApS Kopenhagen, Danmark DKK800,000 58.45 58.45 Wolford America, Inc. New York, U.S.A. N.A. 58.45 58.45 Wolford Nederland B.V. Amsterdam, Netherlands Euro50,000 58.45 58.45 Wolford Canada Inc. Vancouver, Canada CAD100 58.45 58.45 Wolford Asia Limited Hong Kong, P.R.C. HKD2,850,000 58.45 58.45 Wolford Belgium N.V. Antwerpen, Belgium Euro124,000 58.45 58.45 Wolford (Shanghai) Trading Co., Ltd. Shanghai, P.R.C. Euro3,000,000 58.45 58.45 Wolford Berangere Paris, France E uro 58.45 58.45 St. John Knits, Inc. California, U.S.A. US D 96.95 96.95 ST. JOHN ASIA LIMITED Hong Kong, P.R.C. HKD1,000,000 96.95 96.95 St. John Canada Corporation Nova Scotia, Canada N.A. 96.95 96.95 St. John China Limited Hong Kong, P.R.C. HKD100 96.95 96.95 St. John China Holdings Limited Hong Kong, P.R.C. USD35,000,000 77.56 77.56 St. John (Shanghai) Trading Co., Ltd. Shanghai, P.R.C. USD7,000,000 77.56 77.56 St. John de Mexico S.A. de C.V. Tijuana Baja, Mexico PES 96.95 96.95 Shanghai Caruso Trading Co., Ltd. Shanghai, P.R.C. CNY1,000,000 100.00 100.00 Sergio Rossi Retail s.r.l. San Mauro Pascoli, Italy Euro30,000 99.03 99.00 Sergio Rossi USA Inc. New York, U.S.A. USD150,000 99.03 99.00 Sergio Rossi UK Limited London, U.K. GBP2,350,000 99.03 99.00 Sergio Rossi Japan Limited Tokyo, Japan JPY100,000,000 99.03 99.00 Sergio Rossi Hong Kong Limited Hong Kong, P.R.C. HKD99,582,000 99.03 99.00 Sergio Rossi Shanghai Trading Limited Shanghai, P.R.C. E uro 99.03 99.00 Sergio Rossi Deutschland GmbH München, Germany Euro25,000 99.03 99.00 |
Summary of depreciation over the estimated useful lives of the assets | Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Buildings 10 to 50 years Machinery and equipment 3 to 20 years Leasehold improvements 5 to 15 years Office equipment 2 to 10 years Other 2 to |
Summary of Intangible assets are amortised on a straight-line basis | Intangible assets with a definite useful life are amortized on a straight-line basis at the following periods: Trademarks and patents 3 to 10 years Software 2 to 10 years Other 1 to 5 years |
Financial risk management (Tabl
Financial risk management (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial risk management [Abstract] | |
Disclosure of reconciliation of the Group's cash net of debt | The following table provides a reconciliation of the Group’s cash net of debt: At December 31, (Euro thousands) 2022 2021 Cash and cash equivalents 91,897 88,672 Non-current (18,115 ) (11,212 ) Current borrowings (15,370 ) (55,559 ) Borrowings (33,485 ) (66,771 ) Bank overdrafts (148 ) (14 ) Cash net of debt 58,264 21,887 |
Disclosure of reconciliation of the group's cash net of debt to total consolidated equity | The ratio of cash net of debt to total consolidated equity was as follows: At December 31, (Euro thousands) 2022 2021 Cash net of debt (58,264 ) (21,887 ) Total equity 300,806 290,826 Total capital 242,542 268,939 Gearing ratio (24 % (8 % ) |
Disclosure of Table presents the group's assets and liabilities that are measured at fair value | The following table presents the Group’s assets and liabilities that are measured at fair value at December 31, 2022 and 2021. At December 31, (Euro thousands) 2022 2021 Assets Other non-current - Equity investments designated at fair value through profit or loss Level 1 1,028 1,259 Level 3 1,347 693 2,375 1,952 Liabilities Other current liabilities - Warrant liabilities Level 1 5,826 — Level 3 3,176 — 9,002 — |
Disclosure of Sensitivity analysis of possible change in the main foreign currencies against the Euro | The following table demonstrates the sensitivity at the end of the reporting period to a reasonably possible change in the main foreign currencies against the Euro, with all other variables held constant, of the Group’s loss before tax due to differences arising on settlement or translation of monetary assets and liabilities and the Group’s equity excluding the impact of accumulated losses due to the changes of exchange fluctuation reserve of certain overseas subsidiaries of which the functional currencies are currencies other than Euro. At December 31, 2022 At December 31, 2021 (Euro thousands) Increase / (decrease) in Increase / (decrease) Increase / (decrease) in Increase / (decrease) in USD (7,610 ) 7,610 (5,418 ) 5,418 CNY 138 (138 ) 180 (180 ) HKD 1 (1 ) 123 (123 ) GBP 108 (108 ) 78 (78 ) Total (7,363 ) 7,363 (5,037 ) 5,037 |
Disclosure of Sensitivity analysis of reasonably possible change in interest rate | The following table demonstrates the sensitivity to a reasonably possible change in interest rate, with all other variables held constant, of the Group’s loss before tax (through the impact on floating rate borrowings). (Euro thousands) Increase/(decrease) Increase/(decrease) 2022 100 253 (100 ) (253 ) 2021 100 328 (100 ) (328 ) |
Disclosure of trade receivables in financial risk management | The following table provides the aging of trade receivables: (Euro thousands) Not yet due 0-90 days 90-180 days >180 days Total Trade receivables, gross 33,279 10,616 4,618 6,566 55,079 Loss allowance — (118 ) (286 ) (5,807 ) (6,211 ) Total trade receivables at December 31, 2022 33,279 10,498 4,332 759 48,868 Trade receivables, gross 28,046 8,879 1,420 7,744 46,089 Loss allowance — (63 ) (285 ) (5,960 ) (6,308 ) Total trade receivables at December 31, 2021 28,046 8,816 1,135 1,784 39,781 |
Disclosure of Maturity analysis for derivative financial liabilities | The table below analysis the Group’s financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows. As at December 31, 2022 On demand Less than 1 1 to 3 years Over 3 Total Trade payables 34,477 38,637 — — 73,114 Other current liabilities 29,704 35,238 — — 64,942 Lease liabilities — 38,029 55,008 63,589 156,626 Bank overdrafts 148 — — — 148 Borrowings — 15,370 6,503 11,612 33,485 64,329 127,274 61,511 75,201 328,315 As at December 31, 2021 On demand Less than 1 1 to 3 years Over 3 Total Trade payables 21,993 36,158 — — 58,151 Other current liabilities 17,056 8,602 — — 25,658 Lease liabilities — 43,687 51,091 71,814 166,592 Bank overdrafts 14 — — — 14 Borrowings — 55,559 6,619 4,593 66,771 39,063 144,006 57,710 76,407 317,186 |
Reverse Recapitalization (Table
Reverse Recapitalization (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Reverse Recapitalization [Abstract] | |
Summary of detailed information about excess fair value of shares issued over fair value of identifiable net assets acquired | Details of the share listing expenses are set out below: (Euro thousands) 10.64 million of LGHL shares 99,201 Net assets of PCAC (24,661 ) IFRS 2 Expense on the Closing Date 74,540 |
Summary of Breakdown of the net cash proceeds from the Reverse Recapitalization is set out below | Breakdown of the net cash proceeds from the Reverse Recapitalization is set out below: Euro thousands) Proceeds from the Reverse Recapitalization 183,426 Payments of transaction costs related to the Reverse Recapitalization (11,217 ) Net cash proceeds from the Reverse Recapitalization 172,209 |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about business combination [line items] | |
Summary of net value of the assets | The net value of the assets acquired is detailed as follows: (Euro thousands) Fair value at acquisition date Intangible assets 6,420 Property, plant and equipment 12,621 Right-of-use 8,252 Deferred income tax assets 6,474 Inventories 15,118 Trade receivables 7,070 Other current assets 7,040 Cash and bank balances 8,357 Non-current (11,034 ) Non-current (8,925 ) Employee benefits (962 ) Deferred income tax liabilities (866 ) Trade payables (9,417 ) Current borrowings (2,125 ) Current lease liabilities (4,387 ) Current provisions (942 ) Other current liabilities (7,548 ) Net identifiable assets acquired 25,146 Consideration paid (17,250 ) Gain on acquisition 7,896 |
Summary of net cash outflows | The details of the net cash outflows related to the acquisition are shown below: (Euro thousands) At acquisition date Consideration paid 17,250 Cash and bank balances acquired (8,357 ) Net cash outflow - Investing activities 8,893 |
Segment reporting (Tables)
Segment reporting (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of operating segments [abstract] | |
Summary of Financial Information of Segment | The following tables summarize selected financial segment ended 2021 For the year ended December 31, 2022 (Euro thousands) Lanvin Wolford Caruso St. John Sergio Other and Eliminations Group Segment results Sales outside the Group 119,772 125,514 29,696 85,884 61,172 274 — 422,312 Intra-Group sales 75 — 1,123 — 757 10,673 (12,628 ) — Total revenue 119,847 125,514 30,819 85,884 61,929 10,947 (12,628 ) 422,312 Cost of sales (59,334 ) (39,286 ) (23,672 ) (33,242 ) (30,881 ) (101 ) 2,148 (184,368 ) Gross profit 60,513 86,228 7,147 52,642 31,048 10,846 (10,480 ) 237,944 Loss from operations before non-underlying (142,267 ) Non-underlying (83,057 ) Finance cost – net (14,556 ) Loss before income tax (239,880 ) Income tax benefits 129 Loss for the year (239,751 ) Other segment information Depreciation and amortization 11,734 15,671 1,045 11,060 6,082 218 — 45,810 Of which: Right-of-use 7,415 12,357 664 8,111 4,091 — — 32,638 Other 4,319 3,314 381 2,949 1,991 218 — 13,172 Provisions 7,709 5,127 (442 ) 3,257 1,103 (25 ) — 16,729 For the year ended December 31, 2021 (Euro thousands) Lanvin Wolford Caruso St. John Sergio Other and Eliminations Group Segment results Sales outside the Group 72,872 109,332 24,646 73,094 28,737 141 — 308,822 Intra-Group sales — — 49 — — 6,827 (6,876 ) — Total revenue 72,872 109,332 24,695 73,094 28,737 6,968 (6,876 ) 308,822 Cost of sales (38,844 ) (30,262 ) (20,246 ) (34,107 ) (15,418 ) (83 ) 40 (138,920 ) Gross profit 34,028 79,070 4,449 38,987 13,319 6,885 (6,836 ) 169,902 Loss from operations before non-underlying (108,014 ) Non-underlying 45,206 Finance cost – net (9,313 ) Loss before income tax (72,121 ) Income tax expenses (4,331 ) Loss for the year (76,452 ) Other segment information Depreciation and amortization 11,231 14,229 1,089 12,025 2,944 66 — 41,584 Of which: Right-of-use 9,079 11,054 683 9,424 1,914 — — 32,154 Other 2,152 3,175 406 2,601 1,030 66 — 9,430 Provisions 9,985 (440 ) (992 ) (221 ) 2,389 45 — 10,766 For the year ended December 31, 2020 (Euro thousands) Lanvin Wolford Caruso St. John Sergio Other and Eliminations Group Segment results Sales outside the Group 34,989 95,384 25,251 66,512 — 476 — 222,612 Intra-Group sales — — 1,100 — — 2,093 (3,193 ) — Total revenue 34,989 95,384 26,351 66,512 — 2,569 (3,193 ) 222,612 Cost of sales (21,416 ) (29,519 ) (21,470 ) (33,525 ) — (388 ) 1,100 (105,218 ) Gross profit 13,573 65,865 4,881 32,987 — 2,181 (2,093 ) 117,394 Loss from operations before non-underlying (167,817 ) Non-underlying 43,546 Finance cost – net (12,989 ) Loss before income tax (137,260 ) Income tax benefits 1,603 Loss for the year (135,657 ) Other segment information Depreciation and amortization 12,215 18,263 1,155 16,703 — (4 ) — 48,332 Of which: Right-of-use 9,144 13,141 686 13,507 — — — 36,478 Other 3,071 5,122 469 3,196 — (4 ) — 11,854 Provisions 3,854 10,913 5,526 2,383 — — — 22,676 |
Summary of Non-Current Assets by Geography | The following table summarizes non-current assets December (Euro thousands) At December 31, 2022 2021 EMEA (1) 305,927 314,021 North America (2) 87,571 75,703 Greater China (3) 26,919 32,466 Other Asia (4) 14,188 3,448 Total non-current 434,605 425,638 (1) EMEA includes EU countries, the United Kingdom, Switzerland, the countries of the Balkan Peninsula, Eastern Europe, Scandinavian, Azerbaijan, Kazakhstan and the Middle East. (2) North America includes the United States of America and Canada. (3) Greater China includes Mainland China, Hong Kong, Macao and Taiwan. (4) Other Asia includes Japan, South Korea, Thailand, Malaysia, Vietnam, Indonesia, Philippines, Australia, New Zealand, India and other Southeast Asian countries. |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Detailed Information About Revenue by Geographic Area [Abstract] | |
Summary of breakdown of revenue by sales channels | Breakdown of revenue by sales channel: For the years ended December 31, (Euro thousands) 2022 2021 2020 Direct To Consumer (DTC) 247,460 186,813 124,354 Wholesale 164,359 116,417 93,156 Other 10,493 5,592 5,102 Total revenue by sales channel 422,312 308,822 222,612 |
Summary of disclosure of revenue of geographical areas | Breakdown of revenue by geographic area: For the years ended December 31, (Euro thousands) 2022 2021 2020 EMEA 205,715 148,197 113,883 North America 145,519 106,701 85,601 Greater China 48,876 42,518 18,751 Other Asia 22,202 11,406 4,377 Total revenue 422,312 308,822 222,612 |
Expenses By Nature (Tables)
Expenses By Nature (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Expenses by nature [abstract] | |
Summary of detailed information about expense by nature | For the years ended December 31, (Euro thousands) 2022 2021 2020 Personnel costs 184,254 154,965 151,513 Raw materials, consumables and finished goods used 140,273 115,621 70,985 Changes in inventories of finished goods and work in progress (13,337 ) (14,997 ) 1,441 Depreciation and amortization 45,810 41,584 48,332 Professional service fees 43,614 29,562 26,629 Freight and selling expenses 40,962 19,016 11,513 Advertising and marketing expenses 32,162 26,590 22,510 Lease expenses 22,614 13,625 5,690 Provisions and impairment losses 16,729 10,766 22,676 Studies and research expenses 11,916 8,552 7,458 Office expenses 5,916 4,111 3,585 Travel expenses 4,345 1,561 2,169 Taxes and surcharges 2,946 4,006 3,972 Fair value changes on warrants 1,132 — — Net foreign exchange (gains) / losses 339 (10,489 ) 3,304 Other 24,904 12,363 8,652 Total expenses 564,579 416,836 390,429 |
Summary of detailed information about employee benefits expense | Breakdown for personnel costs: For the years ended December 31, (Euro thousands) 2022 2021 2020 Salaries and wages 134,888 117,154 109,420 Social contributions, pension plans and indemnities 26,930 19,403 22,502 Employee share-based compensation 7,431 7,208 5,389 Severance indemnities 2,613 3,260 7,816 Other benefits 12,392 7,940 6,386 Total personnel costs 184,254 154,965 151,513 |
Summary of expenses by nature of lease expenses | Breakdown for lease expenses: For the years ended December 31, (Euro thousands) 2022 2021 2020 Variable lease payments 20,830 8,433 3,533 Expenses relating to short-term leases 1,347 4,339 3,070 Expenses relating to low-value leases 437 933 1,449 Rent concessions — (80 ) (2,362 ) Total lease expenses 22,614 13,625 5,690 |
Summary of detailed information about provisions and impairment losses | Breakdown for provisions and impairment losses: For the years ended December 31, (Euro thousands) 2022 2021 2020 Allowance of obsolete inventories 11,417 8,971 4,430 Provisions for trade and other receivables 1,617 669 1,842 Other provisions 983 1,349 1,310 (Reversal)/impairment of right-of-use 2,434 (430 ) 8,720 Impairment of property, plant and equipment 278 207 1,321 Impairment of intangible assets — — 5,053 Total provisions and impairment losses 16,729 10,766 22,676 |
Non-Underlying Items (Tables)
Non-Underlying Items (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Non Underlying Items [Abstract] | |
Summary of detailed information about non underlying items | The non-underlying For the years ended December 31, (Euro thousands) 2022 2021 2020 Cost related to the Reverse Recapitalization (84,193 ) — — Net gain on disposals 964 24,014 40,307 Government grants 172 6,177 3,724 Negative goodwill from acquisition of a subsidiary — 7,896 — Gain on debt restructuring — 7,380 — Other — (261 ) (485 ) Total non-underlying (83,057 ) 45,206 43,546 |
Finance cost - net (Tables)
Finance cost - net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Finance cost - net [Abstract] | |
Summary of detailed information about net finance costs | Breakdown for finance income, finance expenses and net foreign exchange gains or losses : For the years ended December 31, (Euro thousands) 2022 2021 2020 Finance income - Net foreign exchange gains 5,354 2,379 — - Interest income 121 7 32 Total finance income 5,475 2,386 32 Finance expenses - Interest expense on lease liabilities (6,658 ) (5,586 ) (7,730 ) - Interest expense on borrowings (12,438 ) (5,357 ) (3,478 ) - Net foreign exchange losses — — (1,289 ) - Other (935 ) (756 ) (524 ) Total finance expenses (20,031 ) (11,699 ) (13,021 ) Total finance cost - net (14,556 ) (9,313 ) (12,989 ) |
Income Tax Benefits _ (Expens_2
Income Tax Benefits / (Expenses) (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Income Tax [Abstract] | |
Summary of Income Tax Benefits / (Expenses) | Income tax benefits / (expenses) For the years ended December 31, (Euro thousands) 2022 2021 2020 Current taxes (189 ) (856 ) (1,602 ) Deferred taxes 318 (3,475 ) 3,205 Income tax benefits / (expenses) 129 (4,331 ) 1,603 |
Summary of Effective Tax Rate | The effective tax rate is as follows: For the years ended December 31, (Euro thousands) 2022 2021 2020 Loss before tax (239,880 ) (72,121 ) (137,260 ) Total income tax benefits / (expenses) 129 (4,331 ) 1,603 Effective tax rate 0.05 % (6.01 %) 1.17 % |
Summary of Group's Theoretical Tax and Its Income Taxes | The reconciliation between the Group’s theoretical tax and its income taxes is presented For the years ended December 31, (Euro thousands) 2022 2021 2020 Loss before tax (239,880 ) (72,121 ) (137,260 ) Group’s weighted theoretical tax (calculated in absolute values on the basis of subsidiaries’ pre-taxable 57,651 18,420 37,964 Tax effect on: Differences between foreign tax rates and the theoretical applicable tax rate and tax holidays (2,458 ) 832 5,921 Taxes relating to prior years 111 1,629 5,117 Deferred tax assets not recognized (55,686 ) (25,462 ) (48,189 ) Other tax items 511 250 790 Total income tax benefits / (expenses) 129 (4,331 ) 1,603 |
Summary of Deferred Tax Assets and Deferred Tax Liabilities | Deferred tax assets and deferred tax liabilities Deferred taxes reflect the net tax effect of temporary differences between the book value and the taxable amount of assets . Breakdown for deferred tax tax liabilities (Euro thousands) At 31, 2021 Increase from Recognized Recognized in Exchange At 31, 2022 Deferred tax assets arising on Employee benefits 2,266 — (295 ) (371 ) — 1,600 Property plant and equipment 692 — 193 — — 885 Deferred tax assets on rental contracts; if 2,529 — 1,349 — 130 4,008 Intangible assets 3,262 — (815 ) — — 2,447 Inventories 3,945 — 1,250 — — 5,195 Provisions and accrued expenses 1,803 — 810 — — 2,613 Receivables and other assets 402 — (243 ) — — 159 Tax losses 1,940 — (1,473 ) — (276 ) 191 Other 231 — 21 — (53 ) 199 Total deferred tax assets 17,070 — 797 (371 ) (199 ) 17,297 Deferred tax liabilities arising on: Intangible assets 51,994 — 1,213 — — 53,207 Receivables and other assets 945 — (806 ) — — 139 Other 1,240 — 72 — 2 1,314 Total deferred tax liabilities 54,179 — 479 — 2 54,660 (Euro thousands) At 31, 2020 Increase from Recognized Recognized in Exchange At 31, 2021 Deferred tax assets arising on: Employee benefits 2,028 — 196 42 — 2,266 Property plant and equipment 117 — 583 — (8 ) 692 Deferred tax assets on rental contracts; if 4,711 570 (3,060 ) — 308 2,529 Intangible assets 1,213 2,049 — — — 3,262 Inventories 1,143 3,078 (276 ) — — 3,945 Provisions and accrued expenses 1,673 103 27 — — 1,803 Receivables and other assets 395 521 (514 ) — — 402 Tax losses 2,156 — (308 ) — 92 1,940 Other 172 153 (94 ) — — 231 Total deferred tax assets 13,608 6,474 (3,446 ) 42 392 17,070 Deferred tax liabilities arising on: Intangible assets 51,131 863 — — — 51,994 Receivables and other assets 1,436 — (491 ) — — 945 Other 717 3 520 — — 1,240 Total deferred tax liabilities 53,284 866 29 — — 54,179 |
Summary of Tax Losses Carried Forward | The following table provides the details of tax losses carried forward for which no deferred tax assets were recognized: At December 31, (Euro thousands) 2022 2021 Expiry within 5 years 57,616 76,457 Expiry over 5 years 154,293 141,342 No expiration 712,965 569,948 Total tax losses carried forward 924,874 787,747 |
Loss per share (Tables)
Loss per share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings per share [abstract] | |
Summary of basic and diluted net loss per share | Basic and diluted net loss per share attributable to ordinary shares for the three years ended December 31, 2022 are calculated as follows (in thousands, except share and per share amounts): For the years ended December 31, (Euro thousands) 2022 2021 2020 Net loss attributable to ordinary shares (218,290 ) (65,354 ) (110,761 ) Weighted-average shares outstanding-basic and diluted (thousand shares) 101,442 77,861 72,606 Net loss per share: Basic and diluted (in Euro) (2.15 ) (0.84 ) (1.53 ) |
Summary of outstanding shares of potentially dilutive securities | The following potentially dilutive outstanding securities were excluded from the computation of diluted loss per ordinary share because their effects would have been antidilutive for the three years ended December 31, 2022 or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period: At December 31, (Thousand shares) 2022 2021 2020 Warrants 31,980 — — Treasury shares 25,023 8,651 — Convertible preference share s 15,000 — — Total outstanding shares of potentially dilutive securities 72,003 8,651 — |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about intangible assets [abstract] | |
Summary of Intangible Assets | (Euro thousands) Brands Trademarks and patents Software Intangible Other Total Historical cost At January 1, 2021 174,086 10,738 17,165 1,238 2,216 205,443 Additions — 51 31 332 217 631 Business combination 3,301 1,811 8,313 — 4,566 17,991 Disposals — (764 ) (1,143 ) — — (1,907 ) Net foreign exchange differences — 64 19 — — 83 At December 31, 2021 177,387 11,900 24,385 1,570 6,999 222,241 Additions — 850 919 374 394 2,537 Transfer from construction in progress — 719 — (719 ) — — Disposals — — (602 ) — (690 ) (1,292 ) Net foreign exchange differences — 17 2 — — 19 At December 31, 2022 177,387 13,486 24,704 1,225 6,703 223,505 Amortization and impairment At January 1, 2021 (5,053 ) (8,830 ) (15,954 ) — (64 ) (29,901 ) Amortization — (454 ) (752 ) — (89 ) (1,295 ) Business combination — (1,158 ) (7,241 ) — (3,172 ) (11,571 ) Disposals — 695 1,143 — — 1,838 Net foreign exchange differences — (58 ) (20 ) — — (78 ) At December 31, 2021 (5,053 ) (9,805 ) (22,824 ) — (3,325 ) (41,007 ) Amortization — (804 ) (675 ) — (163 ) (1,642 ) Disposals — — 602 — 43 645 Net foreign exchange differences — (15 ) (1 ) — — (16 ) At December 31, 2022 (5,053 ) (10,624 ) (22,898 ) — (3,445 ) (42,020 ) Carrying amount At January 1, 2021 169,033 1,908 1,211 1,238 2,152 175,542 At December 31, 2021 172,334 2,095 1,561 1,570 3,674 181,234 At December 31, 2022 172,334 2,862 1,806 1,225 3,258 181,485 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Detailed Information About Goodwill [Abstract] | |
Summary of Goodwill Originated From Acquisitions | Goodwill originated from acquisitions made by the Group and is attributable to the following operating segments: At December 31, (Euro thousands) 2022 2021 Lanvin 45,931 45,931 Wolford 11,701 11,701 St. John 11,691 11,691 Total goodwill 69,323 69,323 |
Impairment testing of intangi_2
Impairment testing of intangible assets with indefinite useful lives (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of information for cash-generating units [abstract] | |
Summary of the intangible assets with indefinite useful lives | As of December 31, 2022, the intangible assets with indefinite useful lives that are the most significant in terms of their carrying amounts and the criteria used for impairment testing are as follows: Goodwill Brands Long-term December 31, 2022 (Euro thousands) Net carrying WACC (bps) Net carrying WACC (bps) Royalty rate (bps) Lanvin 45,931 1,445 100,906 1,645 518 129 Wolford 11,701 1,434 37,856 1,634 250 237 St. John 11,691 1,436 30,271 1,636 344 248 Sergio Rossi — N.A. 3,301 2,001 125 143 Total 69,323 172,334 Goodwill Brands Long-term December 31, 2021 (Euro thousands) Net carrying WACC (bps) Net carrying WACC (bps) Royalty rate (bps) Lanvin 45,931 1,370 100,906 1,570 518 97 Wolford 11,701 1,330 37,856 1,530 250 176 St. John 11,691 1,346 30,271 1,546 344 188 Sergio Rossi — N.A. 3,301 1,567 125 109 Total 69,323 172,334 |
Summary of the sensitivity of the impairment testing to reasonably possible changes in key assumptions | The following table details the sensitivity of the impairment testing to reasonably possible changes in key assumptions: At December 31, 2022 impairment loss due to At December 31, 2021 impairment loss due to Goodwill Brand Goodwill Brand (Euro thousands) WACC +10 bps Long-term - 10 bps WACC +10 bps Long-term - 10 bps Royalty -10 bps WACC +10 bps Long-term - 10 bps WACC +10 bps Long-term - 10 bps Royalty -10 bps Lanvin 3,810 1,522 1,002 310 2,236 4,002 1,563 1,035 330 2,178 Wolford 5,904 2,507 491 172 2,053 5,356 2,888 476 219 2,004 St. John 1,928 782 330 110 1,118 1,331 642 245 87 924 Sergio Rossi N.A. N.A. 23 6 334 N.A. N.A. 31 10 351 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of property, plant and equipment | (Euro thousands) Land Buildings Machinery and Leasehold Office Tangible fixed Other Total Historical cost At January 1, 2021 1,884 23,305 78,518 64,747 42,351 773 1,390 212,968 Additions — 404 403 6,543 414 410 41 8,215 Business combination 2,717 25,092 2,091 10,685 4,063 99 1,380 46,127 Disposals — (560 ) (1,906 ) (6,613 ) (1,990 ) — (136 ) (11,205 ) Transfer from tangible fixed assets in — — 33 535 38 (606 ) — — Net foreign exchange 117 1,050 3,482 3,782 1,445 43 32 9,951 At December 31, 2021 4,718 49,291 82,621 79,679 46,321 719 2,707 266,056 Additions — 3,767 1,512 8,406 1,744 3,990 85 19,504 Disposals — (685 ) (2,431 ) (11,828 ) (3,153 ) — (81 ) (18,178 ) Transfer from tangible fixed assets in progress — — 228 2,041 305 (2,574 ) — — Net foreign exchange 92 675 2,567 1,996 741 9 21 6,101 At December 31 , 2022 4,810 53,048 84,497 80,294 45,958 2,144 2,732 273,483 Depreciation and impairment At January 1, 2021 — (17,255 ) (75,257 ) (53,390 ) (38,832 ) — (1,355 ) (186,089 ) Depreciation — (1,330 ) (1,231 ) (3,471 ) (2,051 ) — (52 ) (8,135 ) Business combination — (18,144 ) (2,089 ) (8,967 ) (3,018 ) — (1,288 ) (33,506 ) Impairment losses — — (91 ) (108 ) (8 ) — — (207 ) Disposals — 346 1,905 5,955 1,754 — 136 10,096 Net foreign exchange — (494 ) (3,336 ) (2,477 ) (1,312 ) — (32 ) (7,651 ) At December 31, 2021 — (36,877 ) (80,099 ) (62,458 ) (43,467 ) — (2,591 ) (225,492 ) Depreciation — (1,777 ) (1,422 ) (6,292 ) (1,975 ) — (64 ) (11,530 ) Impairment losses — (332 ) — (283 ) 337 — — (278 ) Disposals — 593 2,389 10,276 2,747 — 51 16,056 Net foreign exchange — (510 ) (2,552 ) (1,758 ) (599 ) — (19 ) (5,438 ) At December 31 , 2022 — (38,903 ) (81,684 ) (60,515 ) (42,957 ) — (2,623 ) (226,682 ) Carrying amount At January 1, 2021 1,884 6,050 3,261 11,357 3,519 773 35 26,879 At December 31, 2021 4,718 12,414 2,522 17,221 2,854 719 116 40,564 At December 31, 2022 4,810 14,145 2,813 19,779 3,001 2,144 109 46,801 |
Right-of-use assets (Tables)
Right-of-use assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of quantitative information about right-of-use assets [abstract] | |
Summary of right-of-use assets | (Euro thousands) Real estates Other Total net carrying amount At January 1, 2021 116,845 1,072 117,917 Additions 37,066 491 37,557 Disposals (1,667 ) — (1,667 ) Business combination 8,252 — 8,252 Depreciation (31,604 ) (550 ) (32,154 ) Impairment losses 430 — 430 Contract modifications (15,189 ) (20 ) (15,209 ) Net foreign exchange differences 3,697 (48 ) 3,649 At December 31, 2021 117,830 945 118,775 Additions 17,762 506 18,268 Disposals (3,309 ) (149 ) (3,458 ) Depreciation (32,065 ) (573 ) (32,638 ) Impairment losses (2,434 ) — (2,434 ) Contract modifications 21,704 (11 ) 21,693 Net foreign exchange differences 1,514 11 1,525 At December 31, 2022 121,002 729 121,731 |
Other non-current assets (Table
Other non-current assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Other Noncurrent Assets [Abstract] | |
Summary of other non-current assets | At December 31, (Euro thousands) 2022 2021 Deposits of rental, utility and other 11,217 11,167 Equity investments designated at fair value through p ro 2,375 1,952 Other 1,673 2,623 Total other non-current 15,265 15,742 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Classes of current inventories [abstract] | |
Summary of Inventories | At December 31, (Euro thousands) 2022 2021 Raw materials, ancillary materials and consumables 18,931 16,001 Work-in-progress 13,446 12,734 Finished goods 76,713 63,386 Other 4 214 Total inventories 109,094 92,335 |
Trade receivables (Tables)
Trade receivables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Trade and other receivables [abstract] | |
Summary of Trade Receivables | At December 31, (Euro thousands) 2022 2021 Trade receivables 55,079 46,089 Loss allowance (6,211 ) (6,308 ) Total trade receivables 48,868 39,781 |
Summary of Breakdown For The Loss Allowance | The following table provides a breakdown for the loss allowance: For the years ended December 31, (Euro thousands) 2022 2021 At January 1, 6,308 5,904 Business combination — 358 Provisions 1,363 626 Write off (1,551 ) (709 ) Net foreign exchange difference s 91 129 At December 31, 6,211 6,308 |
Other current assets (Tables)
Other current assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Current Assets [Abstract] | |
Schedule Of Other Current Assets | At December 31, (Euro thousands) 2022 2021 Tax recoverable 10,164 10,449 Advances and payments on account to vendors 7,238 7,496 Prepaid expenses 6,205 5,491 Deposits of rental, utility and other 2,055 1,766 Governmental grants — 9,462 Other 4,805 7,042 Total other current assets 30,467 41,706 |
Cash and bank balances (Tables)
Cash and bank balances (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents [abstract] | |
Summary of cash and bank balances | At December 31, (Euro thousands) 2022 2021 Cash on hand 391 376 Bank balances 91,506 88,296 Total cash and cash equivalents 91,897 88,672 Restricted cash — 309 Total cash and bank balances 91,897 88,981 |
Summary of reconciliation of cash and cash equivalents | The following table provides a reconciliation of cash and cash equivalents per cash flow statement: At December 31, (Euro thousands) 2022 2021 Total cash and cash equivalent s 91,897 88,672 Bank overdrafts (148 ) (14 ) Net cash and cash equivalents per cash flow statement 91,749 88,658 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about borrowings [abstract] | |
Summary of breakdown for non-current and current borrowings | The following table provides a breakdown for non-current 2022 2021 (Euro thousands) Guaranteed Secured Unsecured Total Guaranteed Secured Unsecured Total At January 1, 12,457 7,840 46,474 66,771 1,500 1,452 15,885 18,837 Repayments (1,440 ) (112,559 ) (111,018 ) (225,017 ) (2,103 ) (93,709 ) (20,775 ) (116,587 ) Conversion of debt to equity — — — — — — (25,035 ) (25,035 ) Debt restructuring (1) — — — — — — (7,380 ) (7,380 ) Business combination — — — — 12,700 — 459 13,159 Proceeds 20 112,511 78,198 190,729 360 99,702 76,112 176,174 Net foreign exchange difference — 491 511 1,002 — 395 7,208 7,603 At December 31 , 11,037 8,283 14,165 33,485 12,457 7,840 46,474 66,771 Repayable: - Within one year 3,284 8,283 3,803 15,370 1,422 7,840 46,297 55,559 - In the second year 3,337 — — 3,337 3,282 — — 3,282 - In the third year 3,166 — — 3,166 3,337 — — 3,337 - Over three years 1,250 — 10,362 11,612 4,416 — 177 4,593 11,037 8,283 14,165 33,485 12,457 7,840 46,474 66,771 Portion classified as current liabilities (3,284 ) (8,283 ) (3,803 ) (15,370 ) (1,422 ) (7,840 ) (46,297 ) (55,559 ) Non-current 7,753 — 10,362 18,115 11,035 — 177 11,212 |
Summary of detailed information about assets pledged as security | At December 31, (Euro thousands) 2022 2021 Pledge of assets: - Property, plant and equipment 10,535 9,345 - Inventories 20,333 19,187 - Other current assets 2,786 — - Trade receivables 2,566 2,493 At December 31, 36,220 31,025 |
Summary of detailed information about main terms of borrowings | The main terms of the borrowings are detailed as follows: At December 31, 2022 Borrower Interest Terms Expiry date Of which current Of which non-current (Euro thousands) Fosun Fashion Brand Management Co.,Limited Fixed 7.50% January 2023 633 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% February 2023 75 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% March 2023 283 — St. John Knits, Inc. Variable LIBOR+7.50% April 2023 8,283 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% April 2023 296 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% May 2023 294 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% June 2023 317 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% July 2023 606 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% August 2023 269 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% September 2023 269 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% October 2023 263 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% November 2023 229 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% December 2023 269 — Sergio Rossi S.p.A Variable ECB+6.00% September 2025 784 1,502 Sergio Rossi S.p.A Variable Euribor 3m+1.90% June 2026 2,500 6,250 Fosun Fashion (Shanghai) Consulting Fixed 10.00% December 2027 — 10,363 Total 15,370 18,115 At December 31, 2021 Borrower Interest Terms Expiry date Of which current Of which non-current (Euro thousands) Sergio Rossi S.p.A Fixed 0.90% March 2022 1 — Sergio Rossi S.p.A Fixed 1.45% April 2022 458 — Fosun Fashion Group (Cayman) Limited Fixed 10.00% April 2022 16,337 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% June 2022 166 — Fosun Fashion Group (Cayman) Limited Fixed 10.00% June 2022 23,550 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% August 2022 111 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% September 2022 376 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% October 2022 103 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% November 2022 348 — Fosun Fashion Brand Management Co.,Limited Fixed 7.50% December 2022 337 — Fosun Fashion (Shanghai) Consulting Management Co., Fixed 10.00% December 2022 4,510 — St. John Knits, Inc. Variable LIBOR+7.50% April 2023 7,840 — Fosun Fashion Brand Management Co.,Limited Interest free 0.00% December 2023 — 177 Sergio Rossi S.p.A Variable ECB+6.00% September 2025 172 2,285 Sergio Rossi S.p.A Variable Euribor 3m+1.90% June 2026 1,250 8,750 Total 55,559 11,212 |
Lease liabilities (Tables)
Lease liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Maturity Analysis for Lease Liabilities by Maturity Date [Abstract] | |
Disclosure of Detailed Information About Lease liabilities Explanatory | (Euro thousands) 2022 2021 At January 1, 140,059 136,885 Additions due to new leases and store renewals 15,606 36,607 Business combination — 13,312 Decrease due to COVID-19 concessions — (80 ) Interest expense 6,658 5,586 Repayment of lease liabilities (including interest expense) (41,364 ) (40,691 ) Contract modifications 19,922 (15,132 ) Disposals (2,516 ) (1,821 ) Net foreign exchange differences 2,226 5,393 At December 31, 140,591 140,059 Of which: Non-current 105,986 102,987 Current 34,605 37,072 |
Disclosure of Maturity Analysis for Lease Liabilities by Maturity Date Explanatory | The following table summarizes the undiscounted contractual cash flows of lease liabilities by maturity date: (Euro thousands) Total contractual Year 1 Year 2 Year 3 Beyond At December 31, 2022 156,626 38,029 30,435 24,573 63,589 At December 31, 2021 166,592 43,687 29,393 21,698 71,814 |
Provision (Tables)
Provision (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Provisions [abstract] | |
Disclosure of Detailed Information about Provision Explanatory [Table Text Block] | The following tables show the movement of the provisions in 2022 and 2021: (Euro thousands) Provisions for Provisions for Other Total At January 1, 2021 798 3,676 1,302 5,776 Of which current — 1,914 576 2,490 Of which non-current 798 1,762 726 3,286 Provisions 1,036 536 133 1,705 Business combination — 942 — 942 Releases (39 ) (32 ) (285 ) (356 ) Utilizations (21 ) (956 ) — (977 ) Exchange differences — 217 — 217 At December 31, 2021 1,774 4,383 1,150 7,307 Of which current — 2,476 665 3,141 Of which non-current 1,774 1,907 485 4,166 Provisions 991 1,060 364 2,415 Releases (627 ) (786 ) (19 ) (1,432 ) Utilizations — (869 ) (457 ) (1,326 ) Exchange differences — 185 (24 ) 161 At December 31, 2022 2,138 3,973 1,014 7,125 Of which current 12 2,470 532 3,014 Of which non-current 2,126 1,503 482 4,111 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Employee Benefits [Abstract] | |
Schedule Of Employee Benefits Of The Group | The following table shows the employee benefits of the Group. At December 31, (Euro thousands) 2022 2021 Post-employee benefits 12,543 16,016 Other long-term employee benefits 2,585 2,448 Total long-term employee benefits 15,128 18,464 |
Schedule Of Changes In Long Term Employee Benefits | The following table presents the changes in long-term employee benefits: (Euro thousands) Defined-benefit plan in Italy (TFR) Defined-benefit Other long-term employee benefits Total At January 1, 2021 2,492 14,555 2,038 19,085 Business combination 962 — — 962 Current service costs 83 609 747 1,439 Interest expenses 6 107 10 123 Actuarial losses in other comprehensive loss 360 120 — 480 Actuarial gains in profit or loss — — (184 ) (184 ) Benefits paid (909 ) (2,289 ) (169 ) (3,367 ) Contributions — (100 ) — (100 ) Exchange differences 3 17 6 26 At December 31, 2021 2,997 13,019 2,448 18,464 Current service costs 61 547 546 1,154 Interest expenses 33 137 19 189 Actuarial gains in other comprehensive loss (425 ) (1,690 ) (69 ) (2,184 ) Actuarial gains in profit or loss — — (152 ) (152 ) Benefits paid (305 ) (1,565 ) (137 ) (2,007 ) Contributions — (277 ) (70 ) (347 ) Exchange difference s — 11 — 11 At December 31, 2022 2,361 10,182 2,585 15,128 |
Schedule Of Breakdown Of Defined Benefit Obligation By Type Of Defined Benefit Plan | The breakdown of the d e At December 31, (Euro thousands) 2022 2021 Defined-benefit plan in Italy - Italian leaving indemnities 2,361 2,997 Defined-benefit plans in Austria - Severance payments 6,201 8,139 - Pensions liability 3,981 4,880 10,182 13,019 Total defined-benefit obligations 12,543 16,016 |
Schedule Of Fair Value Of Defined Benefit Plans | As at December 31, 2022, the fair value of defined-benefit plans attributable to Group companies operating in the Austria is a net recognized commitment of Euro10.18 m illion (December 31, 2021: Euro million). It is detailed below: At December 31, (Euro thousands) 2022 2021 Fair value of plan liabilities 11,612 14,263 Fair value of plan assets (1,430 ) (1,244 ) Defined-benefit plans in Austria 10,182 13,019 |
Schedule Of Composition Of Main Plan Assets As On Reporting Date | The composition of the m a At December 31, (Euro thousands) 2022 2021 Equity investments 666 614 Real estates 423 323 Bonds 137 130 Alternative investments 108 65 Liquid funds 96 112 Total plan assets 1,430 1,244 |
Schedule Of Main Actuarial Assumptions Of Defined Benefit Plans | The main actuarial assumptions used are as follows: At December 31, 2022 At December 31, 2021 Defined-benefit Italy (TFR) Defined-benefit Austria Defined-benefit Italy (TFR) Defined-benefit plans in Austria Average duration of plan (years) 8.5~17.47 7.60~11.00 9.80~14.90 9.10~13.20 Discount rate 3.01%~3.86% 4.09%~4.16% 0.44% 0.99%~1.23% Inflation rate 2.59%~4.53% N.A. 1.75% N.A. Salary increase rate 2.55% 3.00%~7.50% 2.81% 2.30% |
Other current liabilities (Tabl
Other current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Detailed Information About Other current liabilities [Abstract] | |
Summary of current liabilities Explanatory | At December 31, (Euro thousands) 2022 2021 Financing fund 23,519 — Payroll and employee benefits payables 23,443 25,309 Accrued expenses 23,336 14,484 Tax payables 9,561 8,975 Warrant liabilities 9,002 — Customer advances 8,535 8,718 Due to related companies 2,020 5,059 Rental payable 1,063 1,989 Other 6,002 4,126 Total other current liabilities 106,481 68,660 |
Summary of warrant liabilities Explanatory | At December 31, (Euro thousands) 2022 2021 Public Warrant 5,826 — Private Placement Warrant 3,176 — Total warrant liabilities 9,002 — |
Share capital (Tables)
Share capital (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of classes of share capital [abstract] | |
Summary of ordinary shares | Movements in FFG ordinary shares, preferred shares and FFG Collateral Share (collectively “FFG Shares”) Number of Nominal value of shares Share premium Issued and paid: As at January 1, 2020 265,731 265,731 45,882 Issuance of Ordinary Shares of Euro1.00 each 23,434 23,434 24,279 As at December 31, 2020 289,165 289,165 70,161 Issuance of s p s 50,091 50,091 67,124 Issuance of c n on-voting o s 3 32,130 3 — As at December 31, 2021 371,386 339,259 137,285 Issuance (Note 29) 18,569 18,569 6,454 Issuance of a FFG Collateral Share of * * * 389,955 357,828 143,739 Conversion from FFG Shares LGHL 105,000 * 143,739 Exchange of LGHL ordinary shares as part of (105,000 ) (* ) (143,739 ) As at Closing Date — — — * Less than 1,000 shares or Euro1,000. |
Summary of issuance of share for reverse recapitalization | Movements in LGHL ordinary shares and convertible preference share (collectively “LGHL Shares”): Number of ordinary Nominal value of shares Share premium Issued and paid: As at Closing Date — — 143,739 Issuance of LGHL shares as part of Reverse Recapitalization - Exchange of ordinary shares 105,000 * 357,825 - Exchange of convertible preference share * * * - Merger with PCAC 10,644 * 99,204 - Ordinary shares of USD0.000001 each to third s 15,327 * 142,733 As at December 31, 2022 130,971 * 743,501 * Less than 1,000 shares or Euro |
Other Reserve (Tables)
Other Reserve (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Other Reserve [Abstract] | |
Disclosure Of Detailed Information About Other Reserve Explanatory [Table Text Block] | Other comprehensive income reserve Other reserves Total (Euro thousands) Share premium Cumulative translation adjustment Re-measurement of defined benefit plans Balance at January 1, 2020 45,882 1,757 — (3,032 ) 44,607 Capital injection from shareholders 24,279 — — — 24,279 Employee share-based compensation — — — 5,389 5,389 Debt forgiveness by shareholder — — — 3,176 3,176 Capital contribution from non-controlling interests — — — 119 119 Changes in ownership interest in a subsidiary without change of control — — — (1,084 ) (1,084 ) Currency translation differences — 4,893 — — 4,893 Actuarial reserve relating to employee benefit — — (181 ) — (181 ) Balance at January 1, 2021 70,161 6,650 (181 ) 4,568 81,198 Capital injection from shareholders 67,124 — — — 67,124 Employee share-based compensation — — — 7,208 7,208 Capital contribution from non-controlling — — — 566 566 Changes in ownership interest in a subsidiary without change of control — — — 124 124 Currency translation differences — (6,355 ) — — (6,355 ) Actuarial reserve relating to employee benefit — — (405 ) — (405 ) Balance at December 31, 2021 137,285 295 (586 ) 12,466 149,460 Capital injection from shareholders 6,454 — — — 6,454 Employee share-based compensation — — — 7,431 7,431 Changes in ownership interest in a subsidiary without change of control — — — (396 ) (396 ) Currency translation differences — (1,011 ) — — (1,011 ) Actuarial reserve relating to employee benefit — — 1,261 — 1,261 Issuance of ordinary shares upon Reverse Recapitalization, net of 599,762 — — — 599,762 Balance at December 31, 2022 743,501 (716 ) 675 19,501 762,961 |
Non-Controlling Interests (Tabl
Non-Controlling Interests (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Non controlling Interests [Abstract] | |
Summary of Non controlling Interests | The following table shows the financial information of consolidated companies not entirely controlled by the Group, as required by IFRS 12. The amounts disclosed for each subsidiary are before intercompany eliminations and at and for the year ended December 31, 2022. (Functional currency thousand) Company Group’s Non- controlling interest percentage Functional Total Total (deficits) Net Net profit/ (loss) Arpège SAS 94 % 6 % Euro 228,869 104,639 119,847 (54,834 ) Wolford AG 58 % 42 % Euro 165,196 8,072 125,514 (34,867 ) St. John Knits International, Incorporated 97 % 3 % USD 93,023 (96,838 ) 85,884 (34,971 ) St. John China Holdings Limited 78 % 22 % HKD 4,967 13,402 3,762 3,771 Sergio Rossi S.p.A 99 % 1 % Euro 73,479 20,609 61,929 (18,124 ) Fosun Fashion Brands Management Co., 80 % 20 % CNY 6,840 1,076 2,844 (2,534 ) |
Share-based payment (Tables)
Share-based payment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Summary of detailed information about number of share granted and weighted average exercise prices | For the years ended December 31, 2022 and 2021, movements in the number of RSUs / copies of SEBIRs granted but not yet vested according to the SEBIRs Scheme and their related weighted average exercise prices are as follows (each copy of SEBIR corresponds to one share of the Company): For the years ended December 31, 2022 2021 Average exercise SEBIRs/RSUs (1) Average exercise SEBIRs/RSUs (1) At January 1, 1.50 8,008 1.10 4,591 Granted — — 2.04 3,417 At December 31, 1.50 8,008 1.50 8,008 (1) the number of shares have been retrospectively restated to reflect the exchange ratio to receive 0.26926188 LGHL Ordinary Shares for each FFG Share. |
Summary of detailed information about RSUs and SEBIRs outstanding and exercise prices | The RSUs and SEBIRs outstanding in thousands at the end of the year have the following expiry dates and exercise prices: Expiry date Exercise price in Euro Shares/Copies (1) 2022 2021 September 22, 2029 1.00 4,168 4,168 September 22, 2029 2.04 423 423 September 22, 2031 2.04 3,417 3,417 8,008 8,008 (1) the number of shares have been retrospectively restated to reflect the exchange ratio to receive 0.26926188 LGHL Ordinary Shares for each FFG Share. |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Related party transactions [abstract] | |
Summary of information about key management personnel | The following tables summarize remuneration of directors, key executives with strategic responsibilities: For the years ended December 31, (Euro thousands) 2022 2021 2020 Short-term employee benefits (1) 3,320 2,218 1,425 Employee share-based compensation 4,680 4,876 3,751 Total 8,000 7,094 5,176 (1) Includes corporate bodies fees, consultancy fees and personnel compensation. |
Summary of transactions between related parties | Transactions with related parties In addition to the transactions and balances detailed elsewhere in these financial statements, the Group had the following material transactions with related parties during the year: For the years ended December 31, (Euro thousands) 2022 2021 2020 (i) Proceeds of shareholder loan Fosun International Limited (1) 66,531 79,684 27,238 Shanghai Fosun High Technology (Group) Co., Ltd .(2) 5,853 4,510 — Shanghai Fosun High Technology Group Finance Co., Ltd. (2) 4,053 1,518 — Total proceeds of shareholder loan 76,437 85,712 27,238 (ii) Repayments of shareholder loan Fosun International Limited 106,418 42,642 34,392 Shanghai Fosun High Technology Group Finance Co., Ltd. 1,691 77 — Shanghai Fosun High Technology (Group) Co., Ltd. 177 385 3,214 Total repayments of shareholder loan 108,286 43,104 37,606 (iii) Interest expenses Fosun International Limited 8,355 3,754 1,185 Shanghai Fosun High Technology (Group) Co., Ltd. 762 79 — Shanghai Fosun High Technology Group Finance Co., Ltd. 248 25 — Total interest expenses 9,365 3,858 1,185 (iv) Rental expenses Shanghai Fosun Bund Property Co., Ltd. (3) 1,201 371 — (v) Consulting expenses Shanghai Fosun High Technology (Group) Co., Ltd. — 263 — (vi) Payments on behalf of the Group Shanghai Fosun High Technology (Group) Co., Ltd. 139 147 — Balances with related parties At December 31, (Euro thousands) 2022 2021 (i) Borrowings Shanghai Fosun High Technology (Group) Co., Ltd. 10,363 4,687 Shanghai Fosun High Technology Group Finance Co., Ltd. 3,803 1,441 Fosun International Limited — 39,887 Total borrowings 14,166 46,015 (ii) Other current liabilities Shanghai Fosun High Technology (Group) Co., Ltd. 1,216 542 Shanghai Fosun Bund Property Co., Ltd. 770 — Fosun International Limited 26 4,514 Shanghai Fosun High Technology Group Finance Co., Ltd. 8 3 Total other current liabilities 2,020 5,059 (iii) Other current assets Fosun International Limited 263 — Notes: (1) A shareholder of the Group. (2) Subsidiaries of Fosun International Limited. (3) Joint venture of Fosun International Limited. |
Notes to Consolidated Stateme_2
Notes to Consolidated Statements of Cash Flows (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Cash Flow Statement [Abstract] | |
Summary of proceeds from disposal of long-term assets comprised | Proceeds from disposal of long-term assets For the years ended December 31, (Euro thousands) 2022 2021 2020 Net book valu e 1,940 1,101 32,402 Net gain on disposals (Note 11) 964 24,014 40,307 Total proceeds from disposal of long-term assets 2,904 25,115 72,709 |
Summary of changes in liabilities arising from financing activities | The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash (Euro thousands) Borrowings Lease liabilities Interest As at January 1, 2020 62,594 169,410 495 Changes from financing cash flows (20,741 ) (41,601 ) — Interest paid — — (3,327 ) Conversion of debt to equity (23,434 ) — — New leases — 16,594 — Contract modifications — (4,082 ) — Disposals — (593 ) — Interest expense — 7,730 3,478 COVID-19-related — (2,362 ) — Foreign exchange movement 418 (8,211 ) (47 ) As at December 31, 2020 18,837 136,885 599 Changes from financing cash flows 59,587 (40,691 ) — Interest paid — — (1,521 ) Conversion of debt to equity (25,035 ) — — Debt forgiveness by the Group’s shareholder (7,380 ) — — Business combination 13,159 13,312 — New leases — 36,607 — Contract modifications — (15,132 ) — Disposals — (1,821 ) — Interest expense — 5,586 5,357 COVID-19-related — (80 ) — Foreign exchange movement 7,603 5,393 193 As at December 31, 2021 66,771 140,059 4,628 Changes from financing cash flows (34,288 ) (41,364 ) — Interest paid — — (15,808 ) New leases — 15,606 — Contract modifications — 19,922 — Disposals — (2,516 ) — Interest expense — 6,658 11,995 Foreign exchange movement 1,002 2,226 (807 ) As at December 31, 2022 33,485 140,591 8 |
Summary of information about cash flow for leases | The total cash outflow for leases included in the statement of cash flows is as follows: For the years ended December 31, (Euro thousands) 2022 2021 2020 Within operating activitie s (22,614 ) (13,625 ) (5,690 ) Within investing activities (1,454 ) 22,997 (357 ) Within financing activities (41,364 ) (40,691 ) (41,601 ) Total cash outflow for leases (65,432 ) (31,319 ) (47,648 ) |
Basis of Preparation - Addition
Basis of Preparation - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Basis of preparation [Abstract] | |||
Operating losses | € (225,324) | € (62,808) | € (124,271) |
Net losses | (239,751) | (76,452) | € (135,657) |
Accumulated losses | € (442,618) | € (224,328) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Summary of New Standards and Amendments Issued by the IASB (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
IFRS 3 References to the Conceptual Framework | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2022 | |
IAS 16 Proceeds before Intended Use | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2022 | |
IAS 37 Onerous Contracts – Cost of Fulfilling a Contract | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2022 | |
Annual Improvements to IFRS Standards 2018-2020 Cycle | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2022 | |
IFRS 17 Insurance Contracts | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2023 | |
IFRS 17 and IFRS 4 Amendments to IFRS 17 Insurance Contracts | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2023 | |
IAS 1 Classification of Liabilities as Current or Non-current | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2023 | |
IAS 1 Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2) | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2023 | |
IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction' (Amendments to IAS 12) | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2023 | |
IAS 1 Disclosure of Accounting Policies | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2023 | |
IAS 8 Definition of Accounting Estimates | ||
Disclosure of expected impact of initial application of new standards or interpretations [line items] | ||
Date of Reporting Standards Adopted | Jan. 01, 2023 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Principal Foreign Currency Exchange Rates Used by the Group (Detail) | 12 Months Ended | ||
Dec. 31, 2022 USD ($) MXN ($) CNY (¥) HKD ($) SEK (kr) INR (₨) CHF (SFr) SGD ($) JPY (¥) GBP (£) | Dec. 31, 2021 CHF (SFr) SGD ($) JPY (¥) GBP (£) USD ($) MXN ($) HKD ($) CNY (¥) SEK (kr) INR (₨) | Dec. 31, 2020 MXN ($) HKD ($) CNY (¥) SEK (kr) INR (₨) CHF (SFr) SGD ($) JPY (¥) GBP (£) USD ($) | |
CNY | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | ¥ | 7.4229 | 7.2197 | 8.025 |
Average | ¥ | 7.0714 | 7.6372 | 7.8704 |
CHF | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | SFr | 0.9841 | 1.0347 | 1.0844 |
Average | SFr | 1.0036 | 1.0818 | 1.0706 |
GBP | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | £ | 0.8843 | 0.8389 | 0.9027 |
Average | £ | 0.8519 | 0.8603 | 0.8891 |
HKD | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | 8.3095 | 8.8304 | 9.5354 |
Average | 8.239 | 9.1986 | 8.8482 |
INR | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | ₨ | 88.1789 | 84.3226 | 90.0633 |
Average | ₨ | 82.5907 | 87.5124 | 84.4913 |
JPY | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | ¥ | 141.7666 | 130.2725 | 126.9056 |
Average | ¥ | 137.737 | 129.8404 | 121.8322 |
MXN | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | 20.7529 | 23.1683 | 24.465 |
Average | 21.0553 | 24.0754 | 24.3566 |
SEK | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | kr | 11.1472 | 10.2407 | 10.0791 |
Average | kr | 10.6281 | 10.1418 | 10.4784 |
SGD | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | 1.4321 | 1.5303 | 1.6273 |
Average | 1.4499 | 1.5902 | 1.5734 |
USD | |||
Fluctuation Of The Main Currencies The Group Is Using Against Euro [Line Items] | |||
Exchange rate | 1.0658 | 1.1324 | 1.2299 |
Average | 1.0521 | 1.1835 | 1.1408 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Scope of Consolidation (Detail) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | Dec. 31, 2022 HKD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 JPY (¥) | Dec. 31, 2022 MOP (MOP$) | Dec. 31, 2022 TWD ($) | Dec. 31, 2022 GBP (£) | Dec. 31, 2022 CHF (SFr) | Dec. 31, 2022 DKK (kr) | Dec. 31, 2022 CAD ($) | Dec. 31, 2022 MXN ($) | Dec. 31, 2021 HKD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2021 JPY (¥) | Dec. 31, 2021 MOP (MOP$) | Dec. 31, 2021 TWD ($) | Dec. 31, 2021 GBP (£) | Dec. 31, 2021 CHF (SFr) | Dec. 31, 2021 DKK (kr) | Dec. 31, 2021 CAD ($) | Dec. 31, 2021 MXN ($) | |
Lanvin Group S R L | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | LANVIN GROUP S.R.L. | LANVIN GROUP S.R.L. | ||||||||||||||||||||||
Registered office | Milan, Italy | Milan, Italy | ||||||||||||||||||||||
Nominal value of registered capital | € 10,000 | € 10,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Fosun Fashion Group (Cayman) Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Fosun Fashion Group (Cayman) Limited | Fosun Fashion Group (Cayman) Limited | ||||||||||||||||||||||
Registered office | Grand Cayman, Cayman Islands | Grand Cayman, Cayman Islands | ||||||||||||||||||||||
Nominal value of registered capital | € 50,000 | € 50,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | |||||||||||||||||||||||
Fosun Fashion Investment Holdings (HK) Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Fosun Fashion Investment Holdings (HK) Limited | Fosun Fashion Investment Holdings (HK) Limited | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | $ 100 | $ 100 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Fosun Fashion (Shanghai) Consulting Management Co., Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Fosun Fashion (Shanghai) Consulting Management Co., Ltd. | Fosun Fashion (Shanghai) Consulting Management Co., Ltd. | ||||||||||||||||||||||
Registered office | Shanghai, P.R.C. | Shanghai, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | $ 500,000 | $ 500,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
SJK Investment Holdings Limited. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | SJK Investment Holdings Limited | SJK Investment Holdings Limited | ||||||||||||||||||||||
Registered office | Grand Cayman, Cayman Islands | Grand Cayman, Cayman Islands | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
FFG Investment (Luxembourg) S. r.l. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | FFG Investment (Luxembourg) S.à r.l. | FFG Investment (Luxembourg) S.à r.l. | ||||||||||||||||||||||
Registered office | The Grand Duchy of Luxembourg | The Grand Duchy of Luxembourg | ||||||||||||||||||||||
Nominal value of registered capital | € 12,000 | € 12,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Fosun Fashion Brand Management Co., Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Fosun Fashion Brand Management Co., Limited | Fosun Fashion Brand Management Co., Limited | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 31,878 | 31,878 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Luminary Talent Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Luminary Talent Limited | Luminary Talent Limited | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1 | 1 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
FFG Lily (Luxembourg) S. r.l. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | FFG Lily (Luxembourg) S.à r.l. | FFG Lily (Luxembourg) S.à r.l. | ||||||||||||||||||||||
Registered office | The Grand Duchy of Luxembourg | The Grand Duchy of Luxembourg | ||||||||||||||||||||||
Nominal value of registered capital | € 12,000 | € 12,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
FFG Wisdom (Luxembourg) S. r.l. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | FFG Wisdom (Luxembourg) S.à r.l. | FFG Wisdom (Luxembourg) S.à r.l. | ||||||||||||||||||||||
Registered office | The Grand Duchy of Luxembourg | The Grand Duchy of Luxembourg | ||||||||||||||||||||||
Nominal value of registered capital | € 12,000 | € 12,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Fosun Fashion Brands Management Co., Limited | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Fosun Fashion Brands Management Co., Limited | Fosun Fashion Brands Management Co., Limited | ||||||||||||||||||||||
Registered office | Shanghai, P.R.C. | Shanghai, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | ¥ | ¥ 42,393,000 | ¥ 42,393,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 80% | 80% | ||||||||||||||||||||||
Virtuoso Investment Holdings Luxembourg S. r.l. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Virtuoso Investment Holdings Luxembourg S.à r.l. | Virtuoso Investment Holdings Luxembourg S.à r.l. | ||||||||||||||||||||||
Registered office | The Grand Duchy of Luxembourg | The Grand Duchy of Luxembourg | ||||||||||||||||||||||
Nominal value of registered capital | € 12,500 | € 12,500 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
FFG Lucky SAS [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | FFG Lucky SAS | FFG Lucky SAS | ||||||||||||||||||||||
Registered office | Paris, France | Paris, France | ||||||||||||||||||||||
Nominal value of registered capital | € 1 | € 1 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Fosun Fashion (Hainan) Industry Development Co., Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Fosun Fashion (Hainan) Industry Development Co., Ltd. | Fosun Fashion (Hainan) Industry Development Co., Ltd. | ||||||||||||||||||||||
Registered office | Hainan, P.R.C. | Hainan, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 2,000,000 | 2,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Shanghai Fulang Brand Management (Group) Co., Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Shanghai Fulang Brand Management (Group) Co., Ltd. | Shanghai Fulang Brand Management (Group) Co., Ltd. | ||||||||||||||||||||||
Registered office | Shanghai, P.R.C. | Shanghai, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 3,000,000 | 3,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Oasis Fashion Holdings Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Oasis Fashion Holdings Limited | Oasis Fashion Holdings Limited | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 100 | 100 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Lanv Fashion Pte. Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Lanv Fashion Pte. Ltd. | Lanv Fashion Pte. Ltd. | ||||||||||||||||||||||
Registered office | Singapore | Singapore | ||||||||||||||||||||||
Nominal value of registered capital | € 1 | € 1 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 0% | ||||||||||||||||||||||
Lanvin Group Fashion (America) Inc. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Lanvin Group Fashion (America) Inc. | Lanvin Group Fashion (America) Inc. | ||||||||||||||||||||||
Registered office | Newark, U.S.A. | Newark, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | € 20 | € 20 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 0% | ||||||||||||||||||||||
Arpge SAS [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Arpège SAS | Arpège SAS | ||||||||||||||||||||||
Registered office | Paris, France | Paris, France | ||||||||||||||||||||||
Nominal value of registered capital | € 91,135,692 | € 91,135,692 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
Wolford AG [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford AG | Wolford AG | ||||||||||||||||||||||
Registered office | Breagaz, Austria | Breagaz, Austria | ||||||||||||||||||||||
Nominal value of registered capital | € 46,337,596.8 | € 46,337,596.8 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Raffaele Caruso S.p.A [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Raffaele Caruso S.p.A | Raffaele Caruso S.p.A | ||||||||||||||||||||||
Registered office | Soragna, Italy | Soragna, Italy | ||||||||||||||||||||||
Nominal value of registered capital | € 2,937,145 | € 2,937,145 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
St. John Knits International, Incorporated [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | St. John Knits International, Incorporated | St. John Knits International, Incorporated | ||||||||||||||||||||||
Registered office | Delaware, U.S.A. | Delaware, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 379,547 | 379,547 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 96.95% | 96.95% | ||||||||||||||||||||||
Sergio Rossi S.p.A [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Sergio Rossi S.p.A | Sergio Rossi S.p.A | ||||||||||||||||||||||
Registered office | San Mauro Pascoli, Italy | San Mauro Pascoli, Italy | ||||||||||||||||||||||
Nominal value of registered capital | € 44,084,197 | € 44,084,197 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.03% | 99% | ||||||||||||||||||||||
JEANNE LANVIN [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | JEANNE LANVIN | JEANNE LANVIN | ||||||||||||||||||||||
Registered office | Paris, France | Paris, France | ||||||||||||||||||||||
Nominal value of registered capital | € 16,297,330 | € 16,297,330 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
LANVIN MONTECARLO [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | LANVIN MONTE-CARLO | LANVIN MONTE-CARLO | ||||||||||||||||||||||
Registered office | Monaco, Monaco | Monaco, Monaco | ||||||||||||||||||||||
Nominal value of registered capital | € 150,000 | € 150,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.19% | 90.52% | ||||||||||||||||||||||
Lanvin Inc. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Lanvin Inc. | Lanvin Inc. | ||||||||||||||||||||||
Registered office | New York, U.S.A. | New York, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 12,028,400 | 12,028,400 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L3F CROISETTE [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L3F CROISETTE | L3F CROISETTE | ||||||||||||||||||||||
Registered office | Paris, France | Paris, France | ||||||||||||||||||||||
Nominal value of registered capital | € 20,000 | € 20,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L1 Bal Harbour LLC [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L1 Bal Harbour LLC | L1 Bal Harbour LLC | ||||||||||||||||||||||
Registered office | Miami, U.S.A. | Miami, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L2 Crystals LLC [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L2 Crystals LLC | L2 Crystals LLC | ||||||||||||||||||||||
Registered office | Las Vegas, U.S.A. | Las Vegas, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L3 Madison LLC [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L3 Madison LLC | L3 Madison LLC | ||||||||||||||||||||||
Registered office | New York, U.S.A. | New York, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L4 Rodeo Drive LLC [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L4 Rodeo Drive LLC | L4 Rodeo Drive LLC | ||||||||||||||||||||||
Registered office | Beverly Hills, U.S.A. | Beverly Hills, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L5 US ECOM LLC [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L5 US ECOM LLC | L5 US ECOM LLC | ||||||||||||||||||||||
Registered office | New York, U.S.A. | New York, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L6 MADISON, LLC [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L6 MADISON, LLC | L6 MADISON, LLC | ||||||||||||||||||||||
Registered office | New York, U.S.A. | New York, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L7 Chicago LLC [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L7 Chicago LLC | L7 Chicago LLC | ||||||||||||||||||||||
Registered office | Chicago, U.S.A. | Chicago, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L8 South Coast Plaza LLC [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L8 South Coast Plaza LLC | L8 South Coast Plaza LLC | ||||||||||||||||||||||
Registered office | Costa Mesa, U.S.A. | Costa Mesa, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000 | 1,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L1 SPIGA Srl [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L1 SPIGA Srl | L1 SPIGA Srl | ||||||||||||||||||||||
Registered office | Milan, Italy | Milan, Italy | ||||||||||||||||||||||
Nominal value of registered capital | € 46,587 | € 46,587 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L1 Outlet Srl [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L1 Outlet Srl | L1 Outlet Srl | ||||||||||||||||||||||
Registered office | San Remo, Italy | San Remo, Italy | ||||||||||||||||||||||
Nominal value of registered capital | € 10,000 | € 10,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
L1 Services Srl [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | L1 Services Srl | L1 Services Srl | ||||||||||||||||||||||
Registered office | Padova, Italy | Padova, Italy | ||||||||||||||||||||||
Nominal value of registered capital | € 10,000 | € 10,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 90.61% | |||||||||||||||||||||||
LANVIN JAPAN K.K. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | LANVIN JAPAN K.K. | LANVIN JAPAN K.K. | ||||||||||||||||||||||
Registered office | Tokyo, Japan | Tokyo, Japan | ||||||||||||||||||||||
Nominal value of registered capital | ¥ | ¥ 100,000,000 | ¥ 100,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
LANVIN ASIA PACIFIC Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | LANVIN ASIA PACIFIC LIMITED | LANVIN ASIA PACIFIC LIMITED | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 12,000,000 | 12,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
Lans Atelier (SHANGHAI) Trading Co., Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Lans Atelier (SHANGHAI) Trading Co., Ltd. | Lans Atelier (SHANGHAI) Trading Co., Ltd. | ||||||||||||||||||||||
Registered office | Shanghai, P.R.C. | Shanghai, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 50,000,000 | 50,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
LANVIN MACAU LIMITED [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | LANVIN MACAU LIMITED | LANVIN MACAU LIMITED | ||||||||||||||||||||||
Registered office | Macao, P.R.C. | Macao, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | MOP$ | MOP$ 25000 | MOP$ 25000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
LANVIN TAIWAN Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | LANVIN TAIWAN Ltd. | LANVIN TAIWAN Ltd. | ||||||||||||||||||||||
Registered office | Taipei, P.R.C. | Taipei, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | $ 31,000,000 | $ 31,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
LANVIN LIMITED [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | LANVIN LIMITED | LANVIN LIMITED | ||||||||||||||||||||||
Registered office | London, U.K. | London, U.K. | ||||||||||||||||||||||
Nominal value of registered capital | £ | £ 1 | £ 1 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
Jeanne Lanvin GmbH [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Jeanne Lanvin GmbH | Jeanne Lanvin GmbH | ||||||||||||||||||||||
Registered office | München, Germany | München, Germany | ||||||||||||||||||||||
Nominal value of registered capital | € 675,000 | € 675,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 94.28% | 90.61% | ||||||||||||||||||||||
Wolford Beteiligungs GmbH [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Beteiligungs GmbH | Wolford Beteiligungs GmbH | ||||||||||||||||||||||
Registered office | Bregenz, Austria | Bregenz, Austria | ||||||||||||||||||||||
Nominal value of registered capital | € 35,000 | € 35,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford proizvodnja in trgovina d.o.o. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford proizvodnja in trgovina d.o.o. | Wolford proizvodnja in trgovina d.o.o. | ||||||||||||||||||||||
Registered office | Murska Sobota, Slovenia | Murska Sobota, Slovenia | ||||||||||||||||||||||
Nominal value of registered capital | € 500,000 | € 500,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Deutschland GmbH [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Deutschland GmbH | Wolford Deutschland GmbH | ||||||||||||||||||||||
Registered office | Bielefeld, Germany | Bielefeld, Germany | ||||||||||||||||||||||
Nominal value of registered capital | € 260,000 | € 260,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford (Schweiz) AG [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford (Schweiz) AG | Wolford (Schweiz) AG | ||||||||||||||||||||||
Registered office | Opfikon, Switzerland | Opfikon, Switzerland | ||||||||||||||||||||||
Nominal value of registered capital | SFr | SFr 200,000 | SFr 200,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford London Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford London Ltd. | Wolford London Ltd. | ||||||||||||||||||||||
Registered office | London, U.K. | London, U.K. | ||||||||||||||||||||||
Nominal value of registered capital | £ | 100,000 | 100,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Paris S.A.R.L. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Paris S.A.R.L. | Wolford Paris S.A.R.L. | ||||||||||||||||||||||
Registered office | Paris, France | Paris, France | ||||||||||||||||||||||
Nominal value of registered capital | € 1,525,000 | € 1,525,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Italia S.r.l. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Italia S.r.l. | Wolford Italia S.r.l. | ||||||||||||||||||||||
Registered office | Mailand, Italy | Mailand, Italy | ||||||||||||||||||||||
Nominal value of registered capital | € 500,000 | € 500,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Espaa S.L. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford España S.L. | Wolford España S.L. | ||||||||||||||||||||||
Registered office | Madrid, Spain | Madrid, Spain | ||||||||||||||||||||||
Nominal value of registered capital | € 60,000 | € 60,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Scandinavia ApS [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Scandinavia ApS | Wolford Scandinavia ApS | ||||||||||||||||||||||
Registered office | Kopenhagen, Danmark | Kopenhagen, Danmark | ||||||||||||||||||||||
Nominal value of registered capital | kr | kr 800,000 | kr 800,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford America, Inc. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford America, Inc. | Wolford America, Inc. | ||||||||||||||||||||||
Registered office | New York, U.S.A. | New York, U.S.A. | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Nederland B.V. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Nederland B.V. | Wolford Nederland B.V. | ||||||||||||||||||||||
Registered office | Amsterdam, Netherlands | Amsterdam, Netherlands | ||||||||||||||||||||||
Nominal value of registered capital | € 50,000 | € 50,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Canada Inc. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Canada Inc. | Wolford Canada Inc. | ||||||||||||||||||||||
Registered office | Vancouver, Canada | Vancouver, Canada | ||||||||||||||||||||||
Nominal value of registered capital | $ | $ 100 | $ 100 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Asia Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Asia Limited | Wolford Asia Limited | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 2,850,000 | 2,850,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Belgium N.V. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Belgium N.V. | Wolford Belgium N.V. | ||||||||||||||||||||||
Registered office | Antwerpen, Belgium | Antwerpen, Belgium | ||||||||||||||||||||||
Nominal value of registered capital | € 124,000 | € 124,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford (Shanghai) Trading Co., Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford (Shanghai) Trading Co., Ltd. | Wolford (Shanghai) Trading Co., Ltd. | ||||||||||||||||||||||
Registered office | Shanghai, P.R.C. | Shanghai, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | € 3,000,000 | € 3,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
Wolford Berangere [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Wolford Berangere | Wolford Berangere | ||||||||||||||||||||||
Registered office | Paris, France | Paris, France | ||||||||||||||||||||||
Nominal value of registered capital | € 7,622 | € 7,622 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 58.45% | 58.45% | ||||||||||||||||||||||
St. John Knits, Inc. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | St. John Knits, Inc. | St. John Knits, Inc. | ||||||||||||||||||||||
Registered office | California, U.S.A. | California, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 379,547.46 | 379,547.46 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 96.95% | 96.95% | ||||||||||||||||||||||
ST. JOHN ASIA LIMITED [Member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | ST. JOHN ASIA LIMITED | ST. JOHN ASIA LIMITED | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 1,000,000 | 1,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 96.95% | 96.95% | ||||||||||||||||||||||
St. John Canada Corporation [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | St. John Canada Corporation | St. John Canada Corporation | ||||||||||||||||||||||
Registered office | Nova Scotia, Canada | Nova Scotia, Canada | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 96.95% | 96.95% | ||||||||||||||||||||||
St. John China Limited [Member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | St. John China Limited | St. John China Limited | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 100 | 100 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 96.95% | 96.95% | ||||||||||||||||||||||
St. John China Holdings Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | St. John China Holdings Limited | St. John China Holdings Limited | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 35,000,000 | 35,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 77.56% | 77.56% | ||||||||||||||||||||||
St. John (Shanghai) Trading Co., Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | St. John (Shanghai) Trading Co., Ltd. | St. John (Shanghai) Trading Co., Ltd. | ||||||||||||||||||||||
Registered office | Shanghai, P.R.C. | Shanghai, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | 7,000,000 | 7,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 77.56% | 77.56% | ||||||||||||||||||||||
St. John de Mexico S.A. de C.V. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | St. John de Mexico S.A. de C.V. | St. John de Mexico S.A. de C.V. | ||||||||||||||||||||||
Registered office | Tijuana Baja, Mexico | Tijuana Baja, Mexico | ||||||||||||||||||||||
Nominal value of registered capital | $ | $ 50,000 | $ 50,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 96.95% | 96.95% | ||||||||||||||||||||||
Shanghai Caruso Trading Co., Ltd. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Shanghai Caruso Trading Co., Ltd. | Shanghai Caruso Trading Co., Ltd. | ||||||||||||||||||||||
Registered office | Shanghai, P.R.C. | Shanghai, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | ¥ | ¥ 1,000,000 | ¥ 1,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 100% | 100% | ||||||||||||||||||||||
Sergio Rossi Retail s.r.l. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Sergio Rossi Retail s.r.l. | Sergio Rossi Retail s.r.l. | ||||||||||||||||||||||
Registered office | San Mauro Pascoli, Italy | San Mauro Pascoli, Italy | ||||||||||||||||||||||
Nominal value of registered capital | € 30,000 | € 30,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.03% | 99% | ||||||||||||||||||||||
Sergio Rossi USA Inc. [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Sergio Rossi USA Inc. | Sergio Rossi USA Inc. | ||||||||||||||||||||||
Registered office | New York, U.S.A. | New York, U.S.A. | ||||||||||||||||||||||
Nominal value of registered capital | $ | $ 150,000 | $ 150,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.03% | 99% | ||||||||||||||||||||||
Sergio Rossi UK Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Sergio Rossi UK Limited | Sergio Rossi UK Limited | ||||||||||||||||||||||
Registered office | London, U.K. | London, U.K. | ||||||||||||||||||||||
Nominal value of registered capital | £ | £ 2,350,000 | £ 2,350,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.03% | 99% | ||||||||||||||||||||||
Sergio Rossi Japan Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Sergio Rossi Japan Limited | Sergio Rossi Japan Limited | ||||||||||||||||||||||
Registered office | Tokyo, Japan | Tokyo, Japan | ||||||||||||||||||||||
Nominal value of registered capital | ¥ | ¥ 100,000,000 | ¥ 100,000,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.03% | 99% | ||||||||||||||||||||||
Sergio Rossi Hong Kong Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Sergio Rossi Hong Kong Limited | Sergio Rossi Hong Kong Limited | ||||||||||||||||||||||
Registered office | Hong Kong, P.R.C. | Hong Kong, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | $ | $ 99,582,000 | $ 99,582,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.03% | 99% | ||||||||||||||||||||||
Sergio Rossi Shanghai Trading Limited [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Sergio Rossi Shanghai Trading Limited | Sergio Rossi Shanghai Trading Limited | ||||||||||||||||||||||
Registered office | Shanghai, P.R.C. | Shanghai, P.R.C. | ||||||||||||||||||||||
Nominal value of registered capital | € 10,600,000 | € 10,600,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.03% | 99% | ||||||||||||||||||||||
Sergio Rossi Deutschland GmbH [member] | ||||||||||||||||||||||||
Disclosure of subsidiaries [line items] | ||||||||||||||||||||||||
Company | Sergio Rossi Deutschland GmbH | Sergio Rossi Deutschland GmbH | ||||||||||||||||||||||
Registered office | München, Germany | München, Germany | ||||||||||||||||||||||
Nominal value of registered capital | € 25,000 | € 25,000 | ||||||||||||||||||||||
Proportion of ownership interest in subsidiary | 99.03% | 99% |
Summary of Significant Accoun_7
Summary of Significant Accounting Policies - Summary of Depreciation Over the Estimate Useful Lives of the Assets (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Buildings [member] | Bottom of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 10 years |
Buildings [member] | Top of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 50 years |
Machinery and equipment [member] | Bottom of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 3 years |
Machinery and equipment [member] | Top of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 20 years |
Leasehold improvements [member] | Bottom of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 5 years |
Leasehold improvements [member] | Top of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 15 years |
Office equipment [member] | Bottom of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 2 years |
Office equipment [member] | Top of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 10 years |
Other property, plant and equipment [member] | Bottom of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 2 years |
Other property, plant and equipment [member] | Top of range [member] | |
Depreciation is calculated on a straightline basis over the estimated useful lives of the assets [Line Items] | |
Useful life property, plant and equipment | 10 years |
Summary of Significant Accoun_8
Summary of Significant Accounting Policies - Summary of Intangible Assets are Amortized on a Straight-line Basis (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Trademarks and patents [Member] | Bottom of range [member] | |
Summary of Intangible assets are amortised on a straightline basis [Line Items] | |
Useful life, intangible assets other than goodwill | 3 years |
Trademarks and patents [Member] | Top of range [member] | |
Summary of Intangible assets are amortised on a straightline basis [Line Items] | |
Useful life, intangible assets other than goodwill | 10 years |
Computer software [member] | Bottom of range [member] | |
Summary of Intangible assets are amortised on a straightline basis [Line Items] | |
Useful life, intangible assets other than goodwill | 2 years |
Computer software [member] | Top of range [member] | |
Summary of Intangible assets are amortised on a straightline basis [Line Items] | |
Useful life, intangible assets other than goodwill | 10 years |
Other intangible assets [member] | Bottom of range [member] | |
Summary of Intangible assets are amortised on a straightline basis [Line Items] | |
Useful life, intangible assets other than goodwill | 1 year |
Other intangible assets [member] | Top of range [member] | |
Summary of Intangible assets are amortised on a straightline basis [Line Items] | |
Useful life, intangible assets other than goodwill | 5 years |
Summary of significant accoun_9
Summary of significant accounting policies - Additional information (Detail) | Dec. 31, 2022 EUR (€) |
Disclosure of expected impact of initial application of new standards or interpretations [line items] | |
Lease commitments for short-term leases | € (5,000) |
Financial risk management - Dis
Financial risk management - Disclosure of reconciliation of the Group's cash net of debt (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Summary of reconciliation of the Groups cash net of debt [Line Items] | |||
Cash and cash equivalents | € 91,897 | € 88,672 | |
Non-current borrowings | (18,115) | (11,212) | |
Current borrowings | (15,370) | (55,559) | |
Borrowings | (33,485) | (66,771) | € (18,837) |
Bank overdrafts | (148) | (14) | |
Cash net of debt | € 58,264 | € 21,887 |
Financial risk management - D_2
Financial risk management - Disclosure of reconciliation of the group's cash net of debt to total consolidated equity (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Summary of reconciliation of the Groups cash net of debt to total consolidated equity [Line Items] | ||||
Cash net of debt | € (58,264) | € (21,887) | ||
Total equity | 300,806 | 290,826 | € 250,395 | € 323,467 |
Total capital | € 242,542 | € 268,939 | ||
Gearing ratio | (24.00%) | (8.00%) |
Financial risk management - Sum
Financial risk management - Summary of Table presents the group's assets and liabilities that are measured at fair value (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other non-current assets | ||
Table presents The Groups Assets And Liabilities That Are Measured At Fair Value [Line Items] | ||
Financial assets at fair value through profit or loss, designated upon initial recognition or subsequently | € 9,002 | € 0 |
Level 1 of fair value hierarchy [member] | Other non-current assets | ||
Table presents The Groups Assets And Liabilities That Are Measured At Fair Value [Line Items] | ||
Financial assets at fair value through profit or loss, designated upon initial recognition or subsequently | 5,826 | 0 |
Level 3 of fair value hierarchy [member] | Other non-current assets | ||
Table presents The Groups Assets And Liabilities That Are Measured At Fair Value [Line Items] | ||
Financial assets at fair value through profit or loss, designated upon initial recognition or subsequently | 3,176 | 0 |
Other Current Liabilities [Member] | ||
Table presents The Groups Assets And Liabilities That Are Measured At Fair Value [Line Items] | ||
Financial assets at fair value through profit or loss, designated upon initial recognition or subsequently | 2,375 | 1,952 |
Other Current Liabilities [Member] | Level 1 of fair value hierarchy [member] | ||
Table presents The Groups Assets And Liabilities That Are Measured At Fair Value [Line Items] | ||
Financial assets at fair value through profit or loss, designated upon initial recognition or subsequently | 1,028 | 1,259 |
Other Current Liabilities [Member] | Level 3 of fair value hierarchy [member] | ||
Table presents The Groups Assets And Liabilities That Are Measured At Fair Value [Line Items] | ||
Financial assets at fair value through profit or loss, designated upon initial recognition or subsequently | € 1,347 | € 693 |
Financial risk management - D_3
Financial risk management - Disclosure of sensitivity Analysis of possible change in the main foreign currencies against the Euro (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Sensitivity analysis of possible change in the main foreign currencies against the Euro [Line Items] | ||
Increase /(decrease) in loss before tax if Euro strengthens by 5% | € (7,363) | € (5,037) |
Increase /(decrease) in loss before tax if Euro weakens by 5% | 7,363 | 5,037 |
USD | ||
Sensitivity analysis of possible change in the main foreign currencies against the Euro [Line Items] | ||
Increase /(decrease) in loss before tax if Euro strengthens by 5% | (7,610) | (5,418) |
Increase /(decrease) in loss before tax if Euro weakens by 5% | 7,610 | 5,418 |
CNY | ||
Sensitivity analysis of possible change in the main foreign currencies against the Euro [Line Items] | ||
Increase /(decrease) in loss before tax if Euro strengthens by 5% | 138 | 180 |
Increase /(decrease) in loss before tax if Euro weakens by 5% | (138) | (180) |
HKD | ||
Sensitivity analysis of possible change in the main foreign currencies against the Euro [Line Items] | ||
Increase /(decrease) in loss before tax if Euro strengthens by 5% | 1 | 123 |
Increase /(decrease) in loss before tax if Euro weakens by 5% | (1) | (123) |
GBP | ||
Sensitivity analysis of possible change in the main foreign currencies against the Euro [Line Items] | ||
Increase /(decrease) in loss before tax if Euro strengthens by 5% | 108 | 78 |
Increase /(decrease) in loss before tax if Euro weakens by 5% | € (108) | € (78) |
Financial risk management - D_4
Financial risk management - Disclosure of Sensitivity analysis of reasonably possible change in interest rate (Detail) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) | |
Sensitivity Analysis Of Reasonably Possible Change In Interest Rate [Line Items] | ||
Increase In Basis Points | 0.0100 | 0.0100 |
Decrease In Basis Points | (0.0100) | (0.0100) |
Increase In Loss Before Tax | € 253 | € 328 |
Decrease In Loss Before Tax | € (253) | € (328) |
Financial risk management - D_5
Financial risk management - Disclosure of trade receivables (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | € 48,868 | € 39,781 | |
Loss allowance | (6,211) | (6,308) | € (5,904) |
Not yet due | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 33,279 | 28,046 | |
0-90 days overdue | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 10,498 | 8,816 | |
Loss allowance | (63) | ||
90-180 days overdue | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 4,332 | 1,135 | |
Loss allowance | (285) | ||
>180 days overdue | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 759 | 1,784 | |
Loss allowance | (5,960) | ||
Gross carrying amount [member] | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 55,079 | 46,089 | |
Loss allowance | (6,211) | ||
Gross carrying amount [member] | Not yet due | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 33,279 | 28,046 | |
Gross carrying amount [member] | 0-90 days overdue | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 10,616 | 8,879 | |
Loss allowance | (118) | ||
Gross carrying amount [member] | 90-180 days overdue | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 4,618 | 1,420 | |
Loss allowance | (286) | ||
Gross carrying amount [member] | >180 days overdue | |||
Disclosure of financial assets that are either past due or impaired [line items] | |||
Trade receivables | 6,566 | € 7,744 | |
Loss allowance | € (5,807) |
Financial risk management - D_6
Financial risk management - Disclosure of Maturity analysis for derivative financial liabilities (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | € 328,315 | € 317,186 |
On demand | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 64,329 | 39,063 |
Less than 1 year | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 127,274 | 144,006 |
1 to 3 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 61,511 | 57,710 |
Over 3 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 75,201 | 76,407 |
Trade payables | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 73,114 | 58,151 |
Trade payables | On demand | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 34,477 | 21,993 |
Trade payables | Less than 1 year | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 38,637 | 36,158 |
Other current liabilities | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 64,942 | 25,658 |
Other current liabilities | On demand | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 29,704 | 17,056 |
Other current liabilities | Less than 1 year | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 35,238 | 8,602 |
Lease liabilities | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 156,626 | 166,592 |
Lease liabilities | Less than 1 year | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 38,029 | 43,687 |
Lease liabilities | 1 to 3 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 55,008 | 51,091 |
Lease liabilities | Over 3 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 63,589 | 71,814 |
Bank overdrafts | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 148 | 14 |
Bank overdrafts | On demand | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 148 | 14 |
Borrowings | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 33,485 | 66,771 |
Borrowings | Less than 1 year | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 15,370 | 55,559 |
Borrowings | 1 to 3 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | 6,503 | 6,619 |
Borrowings | Over 3 years | ||
Disclosure of maturity analysis for derivative financial liabilities [line items] | ||
Financial liabilities, undiscounted cash flows | € 11,612 | € 4,593 |
Financial risk management -Addi
Financial risk management -Additional information (Detail) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Financial Risk Management [Line Items] | ||
Borrowings With Floating Interest Rates | 42% | 69% |
Undrawn Borrowing Facilities | $ 13 | $ 13 |
Use of estimates - Additional i
Use of estimates - Additional information (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Use Of Estimates [Abstract] | |
Percentage Of Total Credit Exposure Less Than Consolidated Revenues | 1% |
Reverse Recapitalization - Summ
Reverse Recapitalization - Summary of Detailed Information About Excess Fair Value of Shares Issued Over Fair Value of Identifiable Net Assets Acquired (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 14, 2022 | Dec. 31, 2022 | |
Disclosure of Reverse Recapitalization [Line Items] | ||
IFRS 2 Expense on the Closing Date | € 74,540 | |
PCAC [Member] | ||
Disclosure of Reverse Recapitalization [Line Items] | ||
Identifiable Assets Acquired Liabilities Assumed under share based payment transactions | 24,661 | |
IFRS 2 Expense on the Closing Date | 74,540 | € 74,540 |
PCAC [Member] | LGHL ordinary shares [Member] | ||
Disclosure of Reverse Recapitalization [Line Items] | ||
Value of shares issued under share based payments transactions | € 99,201 |
Reverse Recapitalization - Su_2
Reverse Recapitalization - Summary of Detailed Information About Excess Fair Value of Shares Issued Over Fair Value of Identifiable Net Assets Acquired (Parenthetical) (Detail) shares in Thousands | Dec. 14, 2022 shares |
PCAC [Member] | |
Disclosure of Reverse Recapitalization [Line Items] | |
Number of shares issued under share based payments transactions | 10,640 |
Reverse Recapitalization - Su_3
Reverse Recapitalization - Summary of Breakdown of the Net Cash Proceeds From the Reverse Recapitalization is Set Out Below (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Breakdown Of Net Cash Proceeds From Reverse Recapitalization [Line Items] | |||
Proceeds from the Reverse Recapitalization | € 183,426 | € 0 | € 0 |
Payments of transaction costs related to the Reverse Recapitalization | (11,217) | € 0 | € 0 |
Net cash proceeds from the Reverse Recapitalization | € 172,209 |
Reverse Recapitalization - Addi
Reverse Recapitalization - Additional Information (Detail) $ / shares in Units, € in Thousands | 12 Months Ended | |||||
Dec. 14, 2022 EUR (€) | Dec. 14, 2022 USD ($) $ / shares shares | Dec. 31, 2022 EUR (€) shares | Dec. 31, 2021 EUR (€) | Dec. 31, 2020 EUR (€) | Dec. 31, 2022 USD ($) $ / shares | |
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Par value per share of shares issued under share based payments transactions | $ 9.9 | |||||
Listing and associate expenses recognised in profit or loss | € | € 1,570 | |||||
Listing And Associate Expenses Netted Against Equity | € | 9,650 | |||||
Par value per share | $ 0.000001 | |||||
Issue of equity | € | € 117,215 | € 47,713 | ||||
Expense from share based payment transactions | € | € 74,540 | |||||
LGHL ordinary shares [Member] | ||||||
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Par value per share | 1 | |||||
PCAC [Member] | ||||||
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Par value per share of shares issued under share based payments transactions | $ 9.9 | |||||
Listing And Associate Expenses Netted Against Equity | € | 11,220 | |||||
Reverse recapitalization costs | € | 85,760 | |||||
Expense from share based payment transactions | € | € 74,540 | € 74,540 | ||||
PCAC [Member] | LGHL ordinary shares [Member] | ||||||
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Number of shares issued | shares | 15,327,225 | |||||
Issue of equity | $ | $ 153,270,000 | |||||
Effect of share subdivision as part of reverse recapitalization [Member] | LGHL ordinary shares [Member] | ||||||
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Par value per share | $ 0.000001 | |||||
Stockholders' equity note stock split, conversion ratio | 1,000,000:1 basis | |||||
Stock issued during period shares, stock splits | shares | 1,000,000 | |||||
Effect of share redesignation as part of reverse recapitalization [Member] | ||||||
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Share capital authorized | $ | $ 50,000 | |||||
Effect of share redesignation as part of reverse recapitalization [Member] | LGHL convertible preference shares [Member] | ||||||
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Par value per share | $ 0.000001 | |||||
Stock issued during period shares, stock splits | shares | 1 | |||||
Effect of share redesignation as part of reverse recapitalization [Member] | LGHL ordinary shares [Member] | ||||||
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Par value per share | 0.000001 | |||||
Stock issued during period shares, stock splits | shares | 49,984,999,999 | |||||
Non voting shares [Member] | Effect of share redesignation as part of reverse recapitalization [Member] | ||||||
Disclosure of Reverse Recapitalization [Line Items] | ||||||
Par value per share | $ 0.000001 | |||||
Stock issued during period shares, stock splits | shares | 15,000,000 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Jul. 31, 2021 | |
Disclosure of detailed information about business combination [line items] | |||
Gain on acquisition | € 0 | € 7,896 | |
Sergio Rossi Acquisition [member] | |||
Disclosure of detailed information about business combination [line items] | |||
Percentage of voting equity interests acquired | 100% | ||
Cash transferred | € 17,250 | ||
Acquisition-related costs for transaction recognised separately from acquisition of assets and assumption of liabilities in business combination | 688 | ||
Revenue of acquiree since acquisition date | 28,737 | ||
Profit (loss) of acquiree since acquisition date | 4,274 | ||
Revenue of combined entity as if combination occurred at beginning of period | 339,290 | ||
Profit (loss) of combined entity as if combination occurred at beginning of period | € 84,290 | ||
Gain on acquisition | € 7,896 |
Business Combinations - Summary
Business Combinations - Summary of Net Value of the Assets (Detail) - Sergio Rossi Acquisition [member] € in Thousands | Jul. 31, 2021 EUR (€) |
Disclosure of detailed information about business combination [line items] | |
Intangible assets | € 6,420 |
Property, plant and equipment | 12,621 |
Right-of-use assets | 8,252 |
Deferred income tax assets | 6,474 |
Inventories | 15,118 |
Trade receivables | 7,070 |
Other current assets | 7,040 |
Cash and bank balances | 8,357 |
Non-current borrowings | (11,034) |
Non-current lease liabilities | (8,925) |
Employee benefits | (962) |
Deferred income tax liabilities | (866) |
Trade payables | (9,417) |
Current borrowings | (2,125) |
Current lease liabilities | (4,387) |
Current provisions | (942) |
Other current liabilities | (7,548) |
Net identifiable assets acquired | 25,146 |
Consideration paid | (17,250) |
Gain on acquisition | € 7,896 |
Business Combinations - Summa_2
Business Combinations - Summary of Net Cash Outflows (Detail) - Sergio Rossi Acquisition [member] € in Thousands | Jul. 31, 2021 EUR (€) |
Disclosure of detailed information about business combination [line items] | |
Consideration paid | € 17,250 |
Cash and bank balances acquired | (8,357) |
Net cash outflow - Investing activities | € 8,893 |
Segment reporting - Summary of
Segment reporting - Summary of Financial Information of Segment (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of operating segments [line items] | |||
Revenue | € 422,312 | € 308,822 | € 222,612 |
Cost of sales | (184,368) | (138,920) | (105,218) |
Gross profit | 237,944 | 169,902 | 117,394 |
Loss from operations before non-underlying items | (142,267) | (108,014) | (167,817) |
Non-underlying items | (83,057) | 45,206 | 43,546 |
Finance cost – net | (14,556) | (9,313) | (12,989) |
Loss before income tax | (239,880) | (72,121) | (137,260) |
Income tax benefits / (expenses) | 129 | (4,331) | 1,603 |
Loss for the year | (239,751) | (76,452) | (135,657) |
Depreciation and amortization | 45,810 | 41,584 | 48,332 |
Of which: Right-of-use assets | 32,638 | 32,154 | 36,478 |
Other | 13,172 | 9,430 | 11,854 |
Provisions and impairment losses | 16,729 | 10,766 | 22,676 |
Sales outside the Group [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 422,312 | 308,822 | 222,612 |
Intra-Group sales [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | ||
Operating segments [member] | Lanvin [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 119,847 | 72,872 | 34,989 |
Cost of sales | (59,334) | (38,844) | (21,416) |
Gross profit | 60,513 | 34,028 | 13,573 |
Depreciation and amortization | 11,734 | 11,231 | 12,215 |
Of which: Right-of-use assets | 7,415 | 9,079 | 9,144 |
Other | 4,319 | 2,152 | 3,071 |
Provisions and impairment losses | 7,709 | 9,985 | 3,854 |
Operating segments [member] | Lanvin [member] | Sales outside the Group [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 119,772 | 72,872 | 34,989 |
Operating segments [member] | Lanvin [member] | Intra-Group sales [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 75 | ||
Operating segments [member] | Wolford [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 125,514 | 109,332 | 95,384 |
Cost of sales | (39,286) | (30,262) | (29,519) |
Gross profit | 86,228 | 79,070 | 65,865 |
Depreciation and amortization | 15,671 | 14,229 | 18,263 |
Of which: Right-of-use assets | 12,357 | 11,054 | 13,141 |
Other | 3,314 | 3,175 | 5,122 |
Provisions and impairment losses | 5,127 | (440) | 10,913 |
Operating segments [member] | Wolford [member] | Sales outside the Group [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 125,514 | 109,332 | 95,384 |
Operating segments [member] | Wolford [member] | Intra-Group sales [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | ||
Operating segments [member] | Caruso [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 30,819 | 24,695 | 26,351 |
Cost of sales | (23,672) | (20,246) | (21,470) |
Gross profit | 7,147 | 4,449 | 4,881 |
Depreciation and amortization | 1,045 | 1,089 | 1,155 |
Of which: Right-of-use assets | 664 | 683 | 686 |
Other | 381 | 406 | 469 |
Provisions and impairment losses | (442) | (992) | 5,526 |
Operating segments [member] | Caruso [member] | Sales outside the Group [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 29,696 | 24,646 | 25,251 |
Operating segments [member] | Caruso [member] | Intra-Group sales [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 1,123 | 49 | 1,100 |
Operating segments [member] | St. John [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 85,884 | 73,094 | 66,512 |
Cost of sales | (33,242) | (34,107) | (33,525) |
Gross profit | 52,642 | 38,987 | 32,987 |
Depreciation and amortization | 11,060 | 12,025 | 16,703 |
Of which: Right-of-use assets | 8,111 | 9,424 | 13,507 |
Other | 2,949 | 2,601 | 3,196 |
Provisions and impairment losses | 3,257 | (221) | 2,383 |
Operating segments [member] | St. John [member] | Sales outside the Group [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 85,884 | 73,094 | 66,512 |
Operating segments [member] | St. John [member] | Intra-Group sales [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | ||
Operating segments [member] | Sergio Rossi [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 61,929 | 28,737 | |
Cost of sales | (30,881) | (15,418) | |
Gross profit | 31,048 | 13,319 | |
Depreciation and amortization | 6,082 | 2,944 | |
Of which: Right-of-use assets | 4,091 | 1,914 | |
Other | 1,991 | 1,030 | |
Provisions and impairment losses | 1,103 | 2,389 | |
Operating segments [member] | Sergio Rossi [member] | Sales outside the Group [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 61,172 | 28,737 | |
Operating segments [member] | Sergio Rossi [member] | Intra-Group sales [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 757 | ||
Operating segments [member] | Other and holding companies [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 10,947 | 6,968 | 2,569 |
Cost of sales | (101) | (83) | (388) |
Gross profit | 10,846 | 6,885 | 2,181 |
Depreciation and amortization | 218 | 66 | (4) |
Of which: Right-of-use assets | 0 | ||
Other | 218 | 66 | (4) |
Provisions and impairment losses | (25) | 45 | |
Operating segments [member] | Other and holding companies [member] | Sales outside the Group [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 274 | 141 | 476 |
Operating segments [member] | Other and holding companies [member] | Intra-Group sales [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 10,673 | 6,827 | 2,093 |
Material reconciling items [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | (12,628) | (6,876) | (3,193) |
Cost of sales | 2,148 | 40 | 1,100 |
Gross profit | (10,480) | (6,836) | (2,093) |
Material reconciling items [member] | Sales outside the Group [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 0 | ||
Material reconciling items [member] | Intra-Group sales [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | € (12,628) | € (6,876) | € (3,193) |
Segment reporting -Summary of N
Segment reporting -Summary of Non-Current Assets by Geography (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of geographical areas [line items] | ||
Non-current assets | € 434,605 | € 425,638 |
EMEA [member] | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 305,927 | 314,021 |
North America [member] | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 87,571 | 75,703 |
Greater China [member] | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | 26,919 | 32,466 |
Other Asia [member] | ||
Disclosure of geographical areas [line items] | ||
Non-current assets | € 14,188 | € 3,448 |
Revenue - Summary of Breakdown
Revenue - Summary of Breakdown of Revenue by Sales Channels (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | € 422,312 | € 308,822 | € 222,612 |
Direct To Consumer (DTC) [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 247,460 | 186,813 | 124,354 |
Wholesale [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 164,359 | 116,417 | 93,156 |
Other [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | € 10,493 | € 5,592 | € 5,102 |
Revenue - Summary of Revenue of
Revenue - Summary of Revenue of Geographical Areas (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Detailed Information About Revenue by Geographic Area [Line Items] | |||
Revenue | € 422,312 | € 308,822 | € 222,612 |
EMEA [member] | |||
Disclosure of Detailed Information About Revenue by Geographic Area [Line Items] | |||
Revenue | 205,715 | 148,197 | 113,883 |
North America [member] | |||
Disclosure of Detailed Information About Revenue by Geographic Area [Line Items] | |||
Revenue | 145,519 | 106,701 | 85,601 |
Greater China [member] | |||
Disclosure of Detailed Information About Revenue by Geographic Area [Line Items] | |||
Revenue | 48,876 | 42,518 | 18,751 |
Other Asia [member] | |||
Disclosure of Detailed Information About Revenue by Geographic Area [Line Items] | |||
Revenue | € 22,202 | € 11,406 | € 4,377 |
Expenses By Nature - Summary of
Expenses By Nature - Summary of Expense by Nature (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses by nature [abstract] | |||
Personnel costs | € 184,254 | € 154,965 | € 151,513 |
Raw materials, consumables and finished goods used | 140,273 | 115,621 | 70,985 |
Changes in inventories of finished goods and work in progress | (13,337) | (14,997) | 1,441 |
Depreciation and amortization | 45,810 | 41,584 | 48,332 |
Professional service fees | 43,614 | 29,562 | 26,629 |
Freight and selling expenses | 40,962 | 19,016 | 11,513 |
Advertising and marketing expenses | 32,162 | 26,590 | 22,510 |
Lease expenses | 22,614 | 13,625 | 5,690 |
Provisions and impairment losses | 16,729 | 10,766 | 22,676 |
Studies and research expenses | 11,916 | 8,552 | 7,458 |
Office expenses | 5,916 | 4,111 | 3,585 |
Travel expenses | 4,345 | 1,561 | 2,169 |
Taxes and surcharges | 2,946 | 4,006 | 3,972 |
Fair value changes on warrants | 1,132 | 0 | 0 |
Net foreign exchange (gains) / losses | 339 | (10,489) | 3,304 |
Other | 24,904 | 12,363 | 8,652 |
Total expenses | € 564,579 | € 416,836 | € 390,429 |
Expenses By Nature - Summary _2
Expenses By Nature - Summary of Employee Benefits Expense (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses by nature [abstract] | |||
Salaries and wages | € 134,888 | € 117,154 | € 109,420 |
Social contributions, pension plans and indemnities | 26,930 | 19,403 | 22,502 |
Employee share-based compensation | 7,431 | 7,208 | 5,389 |
Severance indemnities | 2,613 | 3,260 | 7,816 |
Other benefits | 12,392 | 7,940 | 6,386 |
Total personnel costs | € 184,254 | € 154,965 | € 151,513 |
Expenses By Nature - Summary _3
Expenses By Nature - Summary of Lease Expenses (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses by nature [abstract] | |||
Variable lease payments | € 20,830 | € 8,433 | € 3,533 |
Expenses relating to short-term leases | 1,347 | 4,339 | 3,070 |
Expenses relating to low-value leases | 437 | 933 | 1,449 |
Rent concessions | 0 | (80) | (2,362) |
Total lease expenses | € 22,614 | € 13,625 | € 5,690 |
Expenses By Nature - Summary _4
Expenses By Nature - Summary of Provisions and Impairment Losses (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses by nature [abstract] | |||
Allowance of obsolete inventories | € 11,417 | € 8,971 | € 4,430 |
Provisions for trade and other receivables | 1,617 | 669 | 1,842 |
Other provisions | 983 | 1,349 | 1,310 |
(Reversal)/impairment of right-of-use assets | 2,434 | (430) | 8,720 |
Impairment of property, plant and equipment | 278 | 207 | 1,321 |
Impairment of intangible assets | 0 | 0 | 5,053 |
Total provisions and impairment losses | € 16,729 | € 10,766 | € 22,676 |
Non-Underlying Items - Summary
Non-Underlying Items - Summary of Detailed Information About Non Underlying Items (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Non Underlying Items [Abstract] | |||
Cost related to the Reverse Recapitalization | € (84,193) | ||
Net gain on disposals | 964 | € 24,014 | € 40,307 |
Government grants | 172 | 6,177 | 3,724 |
Negative goodwill from acquisition of a subsidiary | 0 | 7,896 | |
Gain on debt restructuring | 0 | 7,380 | |
Other | 0 | (261) | (485) |
Total non-underlying items | € (83,057) | € 45,206 | € 43,546 |
Non-Underlying Items - Addition
Non-Underlying Items - Additional information (Detail) | Dec. 14, 2022 $ / shares |
Disclosure of Non Underlying Items [Line Items] | |
Par value per share of shares issued under share based payments transactions | $ 9.9 |
PCAC [Member] | |
Disclosure of Non Underlying Items [Line Items] | |
Par value per share of shares issued under share based payments transactions | $ 9.9 |
Finance cost - net - Summary of
Finance cost - net - Summary of Detailed Information about Net Finance Cost (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Finance income | |||
- Net foreign exchange gains | € 5,354 | € 2,379 | |
- Interest income | 121 | 7 | € 32 |
Total finance income | 5,475 | 2,386 | 32 |
Finance expenses | |||
- Interest expense on lease liabilities | (6,658) | (5,586) | (7,730) |
- Interest expense on borrowings | (12,438) | (5,357) | (3,478) |
- Net foreign exchange losses | 0 | (1,289) | |
- Other | (935) | (756) | (524) |
Total finance expenses | (20,031) | (11,699) | (13,021) |
Total finance cost - net | € (14,556) | € (9,313) | € (12,989) |
Income Tax Benefits _ (Expens_3
Income Tax Benefits / (Expenses) - Summary of Income Tax Benefits / (Expenses) (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Deferred Taxes [line Items] | |||
Current taxes | € (189) | € (856) | € (1,602) |
Deferred taxes | 318 | (3,475) | 3,205 |
Income tax benefits / (expenses) | € 129 | € (4,331) | € 1,603 |
Income Tax Benefits _ (Expens_4
Income Tax Benefits / (Expenses) - Summary of Effective Tax Rate (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Effective Income Tax Rate [line Items] | |||
Loss before tax | € (239,880) | € (72,121) | € (137,260) |
Total income tax benefits / (expenses) | € 129 | € (4,331) | € 1,603 |
Effective tax rate | 0.05% | (6.01%) | 1.17% |
Income Tax Benefits _ (Expens_5
Income Tax Benefits / (Expenses) - Summary of Group's Theoretical Tax and Its Income Taxes (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Effective Income Tax Rate Reconciliation [line Items] | |||
Loss before tax | € (239,880) | € (72,121) | € (137,260) |
Group's weighted theoretical tax (calculated in absolute values on the basis of subsidiaries' pre-taxable income/loss) | 57,651 | 18,420 | 37,964 |
Tax effect on: | |||
Differences between foreign tax rates and the theoretical applicable tax rate and tax holidays | (2,458) | 832 | 5,921 |
Taxes relating to prior years | 111 | 1,629 | 5,117 |
Deferred tax assets not recognized | (55,686) | (25,462) | (48,189) |
Other tax items | 511 | 250 | 790 |
Total income tax benefits / (expenses) | € 129 | € (4,331) | € 1,603 |
Income Tax Benefits _ (Expens_6
Income Tax Benefits / (Expenses) - Summary of Deferred Tax Assets and Deferred Tax Liabilities (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Deferred tax assets [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | € 17,070 | € 13,608 |
Increase from business combination | 0 | 6,474 |
Recognized in profit or loss | 797 | (3,446) |
Recognized in other comprehensive loss | (371) | 42 |
Exchange difference and other | (199) | 392 |
Ending balance | 17,297 | 17,070 |
Deferred tax assets [member] | Employee benefits [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 2,266 | 2,028 |
Increase from business combination | 0 | |
Recognized in profit or loss | (295) | 196 |
Recognized in other comprehensive loss | (371) | 42 |
Exchange difference and other | 0 | |
Ending balance | 1,600 | 2,266 |
Deferred tax assets [member] | Property plant and equipment [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 692 | 117 |
Increase from business combination | 0 | |
Recognized in profit or loss | 193 | 583 |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 0 | (8) |
Ending balance | 885 | 692 |
Deferred tax assets [member] | Deferred tax assets on rental contracts; if any [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 2,529 | 4,711 |
Increase from business combination | 0 | 570 |
Recognized in profit or loss | 1,349 | (3,060) |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 130 | 308 |
Ending balance | 4,008 | 2,529 |
Deferred tax assets [member] | Intangible assets [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 3,262 | 1,213 |
Increase from business combination | 0 | 2,049 |
Recognized in profit or loss | (815) | |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 0 | |
Ending balance | 2,447 | 3,262 |
Deferred tax assets [member] | Inventories [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 3,945 | 1,143 |
Increase from business combination | 0 | 3,078 |
Recognized in profit or loss | 1,250 | (276) |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 0 | |
Ending balance | 5,195 | 3,945 |
Deferred tax assets [member] | Provisions and accrued expenses [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 1,803 | 1,673 |
Increase from business combination | 0 | 103 |
Recognized in profit or loss | 810 | 27 |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 0 | |
Ending balance | 2,613 | 1,803 |
Deferred tax assets [member] | Receivables and other assets [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 402 | 395 |
Increase from business combination | 0 | 521 |
Recognized in profit or loss | (243) | (514) |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 0 | |
Ending balance | 159 | 402 |
Deferred tax assets [member] | Tax losses [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 1,940 | 2,156 |
Increase from business combination | 0 | |
Recognized in profit or loss | (1,473) | (308) |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | (276) | 92 |
Ending balance | 191 | 1,940 |
Deferred tax assets [member] | Other [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 231 | 172 |
Increase from business combination | 0 | 153 |
Recognized in profit or loss | 21 | (94) |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | (53) | |
Ending balance | 199 | 231 |
Deferred tax liabilities [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 54,179 | 53,284 |
Increase from business combination | 0 | 866 |
Recognized in profit or loss | 479 | 29 |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 2 | |
Ending balance | 54,660 | 54,179 |
Deferred tax liabilities [member] | Intangible assets [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 51,994 | 51,131 |
Increase from business combination | 0 | 863 |
Recognized in profit or loss | 1,213 | |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 0 | |
Ending balance | 53,207 | 51,994 |
Deferred tax liabilities [member] | Receivables and other assets [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 945 | 1,436 |
Increase from business combination | 0 | |
Recognized in profit or loss | (806) | (491) |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 0 | |
Ending balance | 139 | 945 |
Deferred tax liabilities [member] | Other [member] | ||
Disclosure of Deferred Tax Assets And Liabilities [line Items] | ||
Beginning balance | 1,240 | 717 |
Increase from business combination | 0 | 3 |
Recognized in profit or loss | 72 | 520 |
Recognized in other comprehensive loss | 0 | |
Exchange difference and other | 2 | |
Ending balance | € 1,314 | € 1,240 |
Income Tax Benefits _ (Expens_7
Income Tax Benefits / (Expenses) - Summary of Tax Losses Carried Forward (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Details of Tax Losses Carried Forward For Which No Deferred Tax Assets Were Recognized [line Items] | ||
Unused tax losses for which no deferred tax asset recognised | € 924,874 | € 787,747 |
Expiry within 5 years [member] | ||
Disclosure of Details of Tax Losses Carried Forward For Which No Deferred Tax Assets Were Recognized [line Items] | ||
Unused tax losses for which no deferred tax asset recognised | 57,616 | 76,457 |
Expiry over 5 years [member] | ||
Disclosure of Details of Tax Losses Carried Forward For Which No Deferred Tax Assets Were Recognized [line Items] | ||
Unused tax losses for which no deferred tax asset recognised | 154,293 | 141,342 |
No expiration [member] | ||
Disclosure of Details of Tax Losses Carried Forward For Which No Deferred Tax Assets Were Recognized [line Items] | ||
Unused tax losses for which no deferred tax asset recognised | € 712,965 | € 569,948 |
Loss Per Share - Summary Of Bas
Loss Per Share - Summary Of Basic And Diluted Net Loss Per Share (Detail) - EUR (€) € / shares in Units, € in Thousands, shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings per share [abstract] | |||
Net loss attributable to ordinary shares | € (218,290) | € (65,354) | € (110,761) |
Weighted-average shares outstanding-basic and diluted | 101,442 | 77,861 | 72,606 |
Basic earnings (loss) per share | € (2.15) | € (0.84) | € (1.53) |
Diluted earnings (loss) per share | € (2.15) | € (0.84) | € (1.53) |
Loss Per Share - Additional inf
Loss Per Share - Additional information (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
FFG shares [Member] | |
Earnings per share [line items] | |
Ordinary shares converion basis | 0.26926188 |
Loss Per Share - Summary Of Out
Loss Per Share - Summary Of Outstanding Shares Of Potentially Dilutive Securities (Detail) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings per share [line items] | |||
Outstanding shares of potentially dilutive securities | 72,003 | 8,651 | 0 |
Warrants [Member] | |||
Earnings per share [line items] | |||
Antidilutive securities excluded from computation of earnings per share amount of warrants portion | 31,980 | 0 | 0 |
Treasury Shares [Member] | |||
Earnings per share [line items] | |||
Antidilutive securities excluded from computation of earnings per share amount of treasury share portion | 25,023 | 8,651 | 0 |
Convertible Preference Shares [Member] | |||
Earnings per share [line items] | |||
Antidilutive securities excluded from computation of earnings per share amount of convertible preference shares portion | 15,000 | 0 | 0 |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible assets (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | € 181,234 | € 175,542 |
Intangible assets other than goodwill | 181,485 | 181,234 |
Ending Balance | 181,485 | 181,234 |
Gross carrying amount [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 222,241 | 205,443 |
Additions | 2,537 | 631 |
Business combination | 17,991 | |
Disposals | (1,292) | (1,907) |
Net foreign exchange differences | 19 | 83 |
Intangible assets other than goodwill | 223,505 | 222,241 |
Ending Balance | 223,505 | 222,241 |
Accumulated impairment [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (41,007) | (29,901) |
Amortization | (1,642) | (1,295) |
Business combination | (11,571) | |
Disposals | 645 | 1,838 |
Net foreign exchange differences | (16) | (78) |
Intangible assets other than goodwill | (42,020) | (41,007) |
Ending Balance | (42,020) | (41,007) |
Brands | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 172,334 | 169,033 |
Intangible assets other than goodwill | 172,334 | 172,334 |
Ending Balance | 172,334 | 172,334 |
Brands | Gross carrying amount [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 177,387 | 174,086 |
Business combination | 3,301 | |
Intangible assets other than goodwill | 177,387 | 177,387 |
Ending Balance | 177,387 | 177,387 |
Brands | Accumulated impairment [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (5,053) | (5,053) |
Intangible assets other than goodwill | (5,053) | (5,053) |
Ending Balance | (5,053) | (5,053) |
Trademarks and patents | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 2,095 | 1,908 |
Intangible assets other than goodwill | 2,862 | 2,095 |
Ending Balance | 2,862 | 2,095 |
Trademarks and patents | Gross carrying amount [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 11,900 | 10,738 |
Additions | 850 | 51 |
Transfer from construction in progress | 719 | |
Business combination | 1,811 | |
Disposals | 0 | (764) |
Net foreign exchange differences | 17 | 64 |
Intangible assets other than goodwill | 13,486 | 11,900 |
Ending Balance | 13,486 | 11,900 |
Trademarks and patents | Accumulated impairment [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (9,805) | (8,830) |
Amortization | (804) | (454) |
Business combination | (1,158) | |
Disposals | 0 | 695 |
Net foreign exchange differences | (15) | (58) |
Intangible assets other than goodwill | (10,624) | (9,805) |
Ending Balance | (10,624) | (9,805) |
Software | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 1,561 | 1,211 |
Intangible assets other than goodwill | 1,806 | 1,561 |
Ending Balance | 1,806 | 1,561 |
Software | Gross carrying amount [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 24,385 | 17,165 |
Additions | 919 | 31 |
Business combination | 8,313 | |
Disposals | (602) | (1,143) |
Net foreign exchange differences | 2 | 19 |
Intangible assets other than goodwill | 24,704 | 24,385 |
Ending Balance | 24,704 | 24,385 |
Software | Accumulated impairment [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (22,824) | (15,954) |
Amortization | (675) | (752) |
Business combination | (7,241) | |
Disposals | 602 | 1,143 |
Net foreign exchange differences | (1) | (20) |
Intangible assets other than goodwill | (22,898) | (22,824) |
Ending Balance | (22,898) | (22,824) |
Intangible assets in progress | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 1,570 | 1,238 |
Intangible assets other than goodwill | 1,225 | 1,570 |
Ending Balance | 1,225 | 1,570 |
Intangible assets in progress | Gross carrying amount [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 1,570 | 1,238 |
Additions | 374 | 332 |
Transfer from construction in progress | (719) | |
Disposals | 0 | |
Net foreign exchange differences | 0 | |
Intangible assets other than goodwill | 1,225 | 1,570 |
Ending Balance | 1,225 | 1,570 |
Intangible assets in progress | Accumulated impairment [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 0 | |
Amortization | 0 | |
Intangible assets other than goodwill | 0 | 0 |
Ending Balance | 0 | 0 |
Other | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 3,674 | 2,152 |
Intangible assets other than goodwill | 3,258 | 3,674 |
Ending Balance | 3,258 | 3,674 |
Other | Gross carrying amount [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | 6,999 | 2,216 |
Additions | 394 | 217 |
Business combination | 4,566 | |
Disposals | (690) | 0 |
Intangible assets other than goodwill | 6,703 | 6,999 |
Ending Balance | 6,703 | 6,999 |
Other | Accumulated impairment [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Beginning Balance | (3,325) | (64) |
Amortization | (163) | (89) |
Business combination | (3,172) | |
Disposals | 43 | 0 |
Intangible assets other than goodwill | (3,445) | (3,325) |
Ending Balance | € (3,445) | € (3,325) |
Goodwill - Summary of Goodwill
Goodwill - Summary of Goodwill Originated From Acquisitions (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Detailed Information About Goodwill [Line Items] | ||
Goodwill | € 69,323 | € 69,323 |
Lanvin [member] | ||
Disclosure of Detailed Information About Goodwill [Line Items] | ||
Goodwill | 45,931 | 45,931 |
Wolford [member] | ||
Disclosure of Detailed Information About Goodwill [Line Items] | ||
Goodwill | 11,701 | 11,701 |
St. John [member] | ||
Disclosure of Detailed Information About Goodwill [Line Items] | ||
Goodwill | € 11,691 | € 11,691 |
Impairment Testing Of Intangi_3
Impairment Testing Of Intangible Assets With Indefinite Useful Lives - Summary Of The Intangible Assets With Indefinite Useful Lives (Detail) € in Thousands | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) |
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount, Goodwill | € 69,323 | € 69,323 |
Long Term Growth Rate [Member] | Lanvin [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.0129 | 0.0097 |
Long Term Growth Rate [Member] | Wolford [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.0237 | 0.0176 |
Long Term Growth Rate [Member] | St. John [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.0248 | 0.0188 |
Long Term Growth Rate [Member] | Sergio Rossi [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.0143 | 0.0109 |
Goodwill [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount, Goodwill | € 69,323 | € 69,323 |
Goodwill [member] | Lanvin [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount, Goodwill | 45,931 | 45,931 |
Goodwill [member] | Wolford [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount, Goodwill | 11,701 | 11,701 |
Goodwill [member] | St. John [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount, Goodwill | € 11,691 | € 11,691 |
Goodwill [member] | WACC [member] | Lanvin [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.1445 | 0.1370 |
Goodwill [member] | WACC [member] | Wolford [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.1434 | 0.1330 |
Goodwill [member] | WACC [member] | St. John [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.1436 | 0.1346 |
Brands [member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount | € 172,334 | € 172,334 |
Brands [member] | Lanvin [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount | 100,906 | 100,906 |
Brands [member] | Wolford [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount | 37,856 | 37,856 |
Brands [member] | St. John [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount | 30,271 | 30,271 |
Brands [member] | Sergio Rossi [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Net carrying amount | € 3,301 | € 3,301 |
Brands [member] | WACC [member] | Lanvin [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.1645 | 0.1570 |
Brands [member] | WACC [member] | Wolford [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.1634 | 0.1530 |
Brands [member] | WACC [member] | St. John [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.1636 | 0.1546 |
Brands [member] | WACC [member] | Sergio Rossi [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.2001 | 0.1567 |
Brands [member] | Royalty Rate [Member] | Lanvin [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.0518 | 0.0518 |
Brands [member] | Royalty Rate [Member] | Wolford [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.0250 | 0.0250 |
Brands [member] | Royalty Rate [Member] | St. John [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.0344 | 0.0344 |
Brands [member] | Royalty Rate [Member] | Sergio Rossi [Member] | ||
Disclosure of information for cash-generating units [line items] | ||
Significant unobservable input, assets | 0.0125 | 0.0125 |
Impairment Testing Of Intangi_4
Impairment Testing Of Intangible Assets With Indefinite Useful Lives - Summary Of The Sensitivity Of The Impairment Testing To Reasonably Possible Changes In Key Assumptions (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill [member] | WACC [member] | Lanvin [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Increase in unobservable input, assets | € 3,810 | € 4,002 |
Goodwill [member] | WACC [member] | Wolford [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Increase in unobservable input, assets | 5,904 | 5,356 |
Goodwill [member] | WACC [member] | St. John [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Increase in unobservable input, assets | 1,928 | 1,331 |
Goodwill [member] | Long Term Growth Rate [Member] | Lanvin [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 1,522 | 1,563 |
Goodwill [member] | Long Term Growth Rate [Member] | Wolford [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 2,507 | 2,888 |
Goodwill [member] | Long Term Growth Rate [Member] | St. John [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 782 | 642 |
Brand [member] | WACC [member] | Lanvin [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Increase in unobservable input, assets | 1,002 | 1,035 |
Brand [member] | WACC [member] | Wolford [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Increase in unobservable input, assets | 491 | 476 |
Brand [member] | WACC [member] | St. John [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Increase in unobservable input, assets | 330 | 245 |
Brand [member] | WACC [member] | Sergio Rossi [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Increase in unobservable input, assets | 23 | 31 |
Brand [member] | Long Term Growth Rate [Member] | Lanvin [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 310 | 330 |
Brand [member] | Long Term Growth Rate [Member] | Wolford [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 172 | 219 |
Brand [member] | Long Term Growth Rate [Member] | St. John [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 110 | 87 |
Brand [member] | Long Term Growth Rate [Member] | Sergio Rossi [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 6 | 10 |
Brand [member] | Royalty Rate [Member] | Lanvin [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 2,236 | 2,178 |
Brand [member] | Royalty Rate [Member] | Wolford [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 2,053 | 2,004 |
Brand [member] | Royalty Rate [Member] | St. John [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | 1,118 | 924 |
Brand [member] | Royalty Rate [Member] | Sergio Rossi [Member] | ||
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | ||
Decrease in unobservable input, assets | € 334 | € 351 |
Impairment Testing Of Intangi_5
Impairment Testing Of Intangible Assets With Indefinite Useful Lives - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | |
Description of key assumptions on which management has based cash flow projections | 10-year cash flow model |
Property, Plant And Equipment -
Property, Plant And Equipment - Summary Of Property, Plant And Equipment (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | € 40,564 | € 26,879 | |
Impairment losses | 278 | 207 | € 1,321 |
Ending balance | 46,801 | 40,564 | 26,879 |
Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 4,718 | 1,884 | |
Ending balance | 4,810 | 4,718 | 1,884 |
Buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 12,414 | 6,050 | |
Ending balance | 14,145 | 12,414 | 6,050 |
Machinery And Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,522 | 3,261 | |
Ending balance | 2,813 | 2,522 | 3,261 |
Leasehold Improvements [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 17,221 | 11,357 | |
Ending balance | 19,779 | 17,221 | 11,357 |
Office Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,854 | 3,519 | |
Ending balance | 3,001 | 2,854 | 3,519 |
Tangible Fixed Assets in Progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 719 | 773 | |
Ending balance | 2,144 | 719 | 773 |
Other [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 116 | 35 | |
Ending balance | 109 | 116 | 35 |
Historical Cost [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 266,056 | 212,968 | |
Additions | 19,504 | 8,215 | |
Disposals | (18,178) | (11,205) | |
Net foreign exchange differences | 6,101 | 9,951 | |
Business combination | 46,127 | ||
Ending balance | 273,483 | 266,056 | 212,968 |
Historical Cost [Member] | Land [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 4,718 | 1,884 | |
Net foreign exchange differences | 92 | 117 | |
Business combination | 2,717 | ||
Ending balance | 4,810 | 4,718 | 1,884 |
Historical Cost [Member] | Buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 49,291 | 23,305 | |
Additions | 3,767 | 404 | |
Disposals | (685) | (560) | |
Net foreign exchange differences | 675 | 1,050 | |
Business combination | 25,092 | ||
Ending balance | 53,048 | 49,291 | 23,305 |
Historical Cost [Member] | Machinery And Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 82,621 | 78,518 | |
Additions | 1,512 | 403 | |
Disposals | (2,431) | (1,906) | |
Transfer from tangible fixed assets in progress | 228 | 33 | |
Net foreign exchange differences | 2,567 | 3,482 | |
Business combination | 2,091 | ||
Ending balance | 84,497 | 82,621 | 78,518 |
Historical Cost [Member] | Leasehold Improvements [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 79,679 | 64,747 | |
Additions | 8,406 | 6,543 | |
Disposals | (11,828) | (6,613) | |
Transfer from tangible fixed assets in progress | 2,041 | 535 | |
Net foreign exchange differences | 1,996 | 3,782 | |
Business combination | 10,685 | ||
Ending balance | 80,294 | 79,679 | 64,747 |
Historical Cost [Member] | Office Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 46,321 | 42,351 | |
Additions | 1,744 | 414 | |
Disposals | (3,153) | (1,990) | |
Transfer from tangible fixed assets in progress | 305 | 38 | |
Net foreign exchange differences | 741 | 1,445 | |
Business combination | 4,063 | ||
Ending balance | 45,958 | 46,321 | 42,351 |
Historical Cost [Member] | Tangible Fixed Assets in Progress [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 719 | 773 | |
Additions | 3,990 | 410 | |
Transfer from tangible fixed assets in progress | (2,574) | (606) | |
Net foreign exchange differences | 9 | 43 | |
Business combination | 99 | ||
Ending balance | 2,144 | 719 | 773 |
Historical Cost [Member] | Other [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 2,707 | 1,390 | |
Additions | 85 | 41 | |
Disposals | (81) | (136) | |
Net foreign exchange differences | 21 | 32 | |
Business combination | 1,380 | ||
Ending balance | 2,732 | 2,707 | 1,390 |
Depreciation And Impairment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (225,492) | (186,089) | |
Disposals | 16,056 | 10,096 | |
Net foreign exchange differences | (5,438) | (7,651) | |
Business combination | (33,506) | ||
Depreciation | (11,530) | (8,135) | |
Impairment losses | (278) | (207) | |
Ending balance | (226,682) | (225,492) | (186,089) |
Depreciation And Impairment [Member] | Buildings [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (36,877) | (17,255) | |
Disposals | 593 | 346 | |
Net foreign exchange differences | (510) | (494) | |
Business combination | (18,144) | ||
Depreciation | (1,777) | (1,330) | |
Impairment losses | (332) | 0 | |
Ending balance | (38,903) | (36,877) | (17,255) |
Depreciation And Impairment [Member] | Machinery And Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (80,099) | (75,257) | |
Disposals | 2,389 | 1,905 | |
Net foreign exchange differences | (2,552) | (3,336) | |
Business combination | (2,089) | ||
Depreciation | (1,422) | (1,231) | |
Impairment losses | (91) | ||
Ending balance | (81,684) | (80,099) | (75,257) |
Depreciation And Impairment [Member] | Leasehold Improvements [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (62,458) | (53,390) | |
Disposals | 10,276 | 5,955 | |
Net foreign exchange differences | (1,758) | (2,477) | |
Business combination | (8,967) | ||
Depreciation | (6,292) | (3,471) | |
Impairment losses | (283) | (108) | |
Ending balance | (60,515) | (62,458) | (53,390) |
Depreciation And Impairment [Member] | Office Equipment [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (43,467) | (38,832) | |
Disposals | 2,747 | 1,754 | |
Net foreign exchange differences | (599) | (1,312) | |
Business combination | (3,018) | ||
Depreciation | (1,975) | (2,051) | |
Impairment losses | 337 | (8) | |
Ending balance | (42,957) | (43,467) | (38,832) |
Depreciation And Impairment [Member] | Other [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (2,591) | (1,355) | |
Disposals | 51 | 136 | |
Net foreign exchange differences | (19) | (32) | |
Business combination | (1,288) | ||
Depreciation | (64) | (52) | |
Ending balance | € (2,623) | € (2,591) | € (1,355) |
Right-of-use Assets - Summary o
Right-of-use Assets - Summary of Right-of-use Assets (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | € 118,775 | € 117,917 | |
Additions | 18,268 | 37,557 | € 7,872 |
Disposals | (3,458) | (1,667) | |
Business combination | 8,252 | ||
Depreciation | (32,638) | (32,154) | |
Impairment losses | (2,434) | 430 | |
Contract modifications | 21,693 | (15,209) | |
Net foreign exchange differences | 1,525 | 3,649 | |
Ending balance | 121,731 | 118,775 | 117,917 |
Real Estates [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 117,830 | 116,845 | |
Additions | 17,762 | 37,066 | |
Disposals | (3,309) | (1,667) | |
Business combination | 8,252 | ||
Depreciation | (32,065) | (31,604) | |
Impairment losses | (2,434) | 430 | |
Contract modifications | 21,704 | (15,189) | |
Net foreign exchange differences | 1,514 | 3,697 | |
Ending balance | 121,002 | 117,830 | 116,845 |
Other [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Beginning balance | 945 | 1,072 | |
Additions | 506 | 491 | |
Disposals | (149) | ||
Depreciation | (573) | (550) | |
Contract modifications | (11) | (20) | |
Net foreign exchange differences | 11 | (48) | |
Ending balance | € 729 | € 945 | € 1,072 |
Other Non-current Assets - Summ
Other Non-current Assets - Summary of Other Non-current Assets (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Other Noncurrent Assets [Abstract] | ||
Deposits of rental, utility and other | € 11,217 | € 11,167 |
Equity investments designated at fair value through profit or loss | 2,375 | 1,952 |
Other | 1,673 | 2,623 |
Total other non-current assets | € 15,265 | € 15,742 |
Other Non-current Assets - Addi
Other Non-current Assets - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Other Noncurrent Assets [Abstract] | ||
Change in fair value recognized through profit or loss | € 250 | € 64 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Classes of current inventories [abstract] | ||
Raw materials, ancillary materials and consumables | € 18,931 | € 16,001 |
Work-in-progress and semi-finished products | 13,446 | 12,734 |
Finished goods | 76,713 | 63,386 |
Other | 4 | 214 |
Total inventories | € 109,094 | € 92,335 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Inventory [Abstract] | ||
Cost of inventories | € 184,368 | € 138,920 |
Impairment losses recognized on inventories | € 11,417 | € 8,971 |
Trade Receivables - Summary of
Trade Receivables - Summary of Trade Receivables (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Trade And Other Receivables [Line Items] | ||
Trade receivables | € 55,079 | € 46,089 |
Loss allowance | (6,211) | (6,308) |
Total trade receivables | € 48,868 | € 39,781 |
Trade Receivables - Summary o_2
Trade Receivables - Summary of Breakdown For The Loss Allowance (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Detailed Information about Trade Receivables Allowance Account For Credit Losses [Line Items] | ||
Beginning Balance | € 6,308 | € 5,904 |
Business combination | 358 | |
Provisions | 1,363 | 626 |
Write off | (1,551) | (709) |
Net foreign exchange differences | 91 | 129 |
Ending Balance | € 6,211 | € 6,308 |
Trade Receivables - Additional
Trade Receivables - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
No Major Customer [Member] | |
Disclosure of Trade And Other Receivables [Line Items] | |
Percentage of revenue | 5% |
Other current assets - Schedule
Other current assets - Schedule Of Other Current Assets (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Detailed Information About Other Current Assets [Line Items] | ||
Tax recoverable | € 10,164 | € 10,449 |
Advances and payments on account to vendors | 7,238 | 7,496 |
Prepaid expenses | 6,205 | 5,491 |
Other | 4,805 | 7,042 |
Deposits of rental, utility and other | 2,055 | 1,766 |
Governmental grants | 9,462 | |
Total other current assets | € 30,467 | € 41,706 |
Cash and bank balances - Summar
Cash and bank balances - Summary of Cash and Bank Balances (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [abstract] | ||
Cash on hand | € 391 | € 376 |
Bank balances | 91,506 | 88,296 |
Total cash and cash equivalents | 91,897 | 88,672 |
Restricted cash | 0 | 309 |
Total cash and bank balances | € 91,897 | € 88,981 |
Cash and bank balances - Summ_2
Cash and bank balances - Summary of Reconciliation of Cash and Cash Equivalents (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [abstract] | ||
Total cash and cash equivalents | € 91,897 | € 88,672 |
Bank overdrafts | (148) | (14) |
Net cash and cash equivalents per cash flow statement | € 91,749 | € 88,658 |
Cash and bank balances - Additi
Cash and bank balances - Additional Information (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [abstract] | ||
Restricted cash | € 0 | € 309 |
Borrowings - Summary of Breakdo
Borrowings - Summary of Breakdown for Non-Current and Current Borrowings (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | € 66,771 | € 18,837 | |
Repayments | (225,017) | (116,587) | € (113,149) |
Conversion of debt to equity | (25,035) | ||
Debt restructuring | (7,380) | ||
Business combination | 13,159 | ||
Proceeds | 190,729 | 176,174 | 92,408 |
Net foreign exchange difference | 1,002 | 7,603 | |
Ending balance | 33,485 | 66,771 | 18,837 |
Portion classified as current liabilities | (15,370) | (55,559) | |
Non-current portion | 18,115 | 11,212 | |
Within one year [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 55,559 | ||
Ending balance | 15,370 | 55,559 | |
In the second year [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 3,282 | ||
Ending balance | 3,337 | 3,282 | |
In the third year [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 3,337 | ||
Ending balance | 3,166 | 3,337 | |
Over three years [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 4,593 | ||
Ending balance | 11,612 | 4,593 | |
Guaranteed [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 12,457 | 1,500 | |
Repayments | (1,440) | (2,103) | |
Business combination | 12,700 | ||
Proceeds | 20 | 360 | |
Ending balance | 11,037 | 12,457 | 1,500 |
Portion classified as current liabilities | (3,284) | (1,422) | |
Non-current portion | 7,753 | 11,035 | |
Guaranteed [member] | Within one year [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 1,422 | ||
Ending balance | 3,284 | 1,422 | |
Guaranteed [member] | In the second year [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 3,282 | ||
Ending balance | 3,337 | 3,282 | |
Guaranteed [member] | In the third year [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 3,337 | ||
Ending balance | 3,166 | 3,337 | |
Guaranteed [member] | Over three years [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 4,416 | ||
Ending balance | 1,250 | 4,416 | |
Secured [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 7,840 | 1,452 | |
Repayments | (112,559) | (93,709) | |
Proceeds | 112,511 | 99,702 | |
Net foreign exchange difference | 491 | 395 | |
Ending balance | 8,283 | 7,840 | 1,452 |
Portion classified as current liabilities | (8,283) | (7,840) | |
Secured [member] | Within one year [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 7,840 | ||
Ending balance | 8,283 | 7,840 | |
Unsecured [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 46,474 | 15,885 | |
Repayments | (111,018) | (20,775) | |
Conversion of debt to equity | (25,035) | ||
Debt restructuring | (7,380) | ||
Business combination | 459 | ||
Proceeds | 78,198 | 76,112 | |
Net foreign exchange difference | 511 | 7,208 | |
Ending balance | 14,165 | 46,474 | € 15,885 |
Portion classified as current liabilities | (3,803) | (46,297) | |
Non-current portion | 10,362 | 177 | |
Unsecured [member] | Within one year [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 46,297 | ||
Ending balance | 3,803 | 46,297 | |
Unsecured [member] | Over three years [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Beginning balance | 177 | ||
Ending balance | € 10,362 | € 177 |
Borrowings - Additional informa
Borrowings - Additional information (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Jul. 21, 2021 |
Disclosure of detailed information about borrowings [line items] | |||
Debt Restructured Principal Amount | € 15,609 | ||
Consideration Paid for Debt Restructuring | € 8,013 | ||
Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings rates | 3.06% | 0% | |
Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings rates | 12.31% | 10% | |
Asset pledged as collateral [member] | Secured [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | € 8,283 | € 7,840 | |
SACE S.p.A. [member] | Guaranteed [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | € 11,037 | € 12,457 |
Borrowings - Summary of Detaile
Borrowings - Summary of Detailed Information About Assets Pledged as Security (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Pledge of assets: | ||
- Other current asset | € 2,786 | |
- Property, plant and equipment | 10,535 | € 9,345 |
- Inventories | 20,333 | 19,187 |
- Trade receivables | 2,566 | 2,493 |
At December 31, | € 36,220 | € 31,025 |
Borrowings - Summary of Detai_2
Borrowings - Summary of Detailed Information About Main Terms of Borrowings (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of detailed information about borrowings [line items] | ||
Of which current portion | € 15,370 | € 55,559 |
Of which non-current portion | € 18,115 | € 11,212 |
Sergio Rossi S.p.A [member] | Fixed [member] | March 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 0.90% | |
Expiry date | March 2022 | |
Of which current portion | € 1 | |
Sergio Rossi S.p.A [member] | Fixed [member] | April 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 1.45% | |
Expiry date | April 2022 | |
Of which current portion | € 458 | |
Sergio Rossi S.p.A [member] | Variable [member] | September 2025 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate basis | ECB+6.00% | ECB+6.00% |
Expiry date | September 2025 | September 2025 |
Of which current portion | € 784 | € 172 |
Of which non-current portion | € 1,502 | € 2,285 |
Sergio Rossi S.p.A [member] | Variable [member] | June 2026 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate basis | Euribor 3m+1.90% | Euribor 3m+1.90% |
Expiry date | June 2026 | June 2026 |
Of which current portion | € 2,500 | € 1,250 |
Of which non-current portion | € 6,250 | € 8,750 |
Fosun Fashion Group (Cayman) Limited [member] | Fixed [member] | April 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 10% | |
Expiry date | April 2022 | |
Of which current portion | € 16,337 | |
Fosun Fashion Group (Cayman) Limited [member] | Fixed [member] | June 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 10% | |
Expiry date | June 2022 | |
Of which current portion | € 23,550 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | June 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | June 2022 | |
Of which current portion | € 166 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | August 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | August 2022 | |
Of which current portion | € 111 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | September 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | September 2022 | |
Of which current portion | € 376 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | October 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | October 2022 | |
Of which current portion | € 103 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | November 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | November 2022 | |
Of which current portion | € 348 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | December 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | December 2022 | |
Of which current portion | € 337 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | January 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | January 2023 | |
Of which current portion | € 633 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | February 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | February 2023 | |
Of which current portion | € 75 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | March 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | March 2023 | |
Of which current portion | € 283 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | April 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | April 2023 | |
Of which current portion | € 296 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | May 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | May 2023 | |
Of which current portion | € 294 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | June 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | June 2023 | |
Of which current portion | € 317 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | July 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | July 2023 | |
Of which current portion | € 606 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | August 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | August 2023 | |
Of which current portion | € 269 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | September 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | September 2023 | |
Of which current portion | € 269 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | October 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | October 2023 | |
Of which current portion | € 263 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | November 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | November 2023 | |
Of which current portion | € 229 | |
Fosun Fashion Brand Management Co.,Limited [member] | Fixed [member] | December 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 7.50% | |
Expiry date | December 2023 | |
Of which current portion | € 269 | |
Fosun Fashion Brand Management Co.,Limited [member] | Interest free [member] | December 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 0% | |
Expiry date | December 2023 | |
Of which non-current portion | € 177 | |
Fosun Fashion (Shanghai) Consulting Management Co., Ltd. [member] | Fixed [member] | December 2022 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 10% | |
Expiry date | December 2022 | |
Of which current portion | € 4,510 | |
Fosun Fashion (Shanghai) Consulting Management Co., Ltd. [member] | Fixed [member] | December 2027 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate | 10% | |
Expiry date | December 2027 | |
Of which non-current portion | € 10,363 | |
St. John Knits, Inc. [member] | Variable [member] | April 2023 [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest rate basis | LIBOR+7.50% | LIBOR+7.50% |
Expiry date | April 2023 | April 2023 |
Of which current portion | € 8,283 | € 7,840 |
Lease liabilities - Disclosure
Lease liabilities - Disclosure of Lease liabilities Explanatory (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Lease liabilities [abstract] | |||
Beginning balance | € 140,059 | € 136,885 | |
Additions due to new leases and store renewals | 15,606 | 36,607 | |
Business combination | 13,312 | ||
Decrease due to COVID19 concessions | (80) | ||
Interest expenses | 6,658 | 5,586 | € 7,730 |
Repayment of lease liabilities (including interest expense) | (41,364) | (40,691) | |
Contract modifications | 19,922 | (15,132) | |
Disposals | (2,516) | (1,821) | |
Net foreign exchange differences | 2,226 | 5,393 | |
Ending balance | 140,591 | 140,059 | € 136,885 |
Non-current lease liabilities | 105,986 | 102,987 | |
Current | € 34,605 | € 37,072 |
Lease liabilities - Disclosur_2
Lease liabilities - Disclosure of maturity analysis of operating lease payments (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Maturity Analysis for Lease Liabilities by Maturity Date [Line Items] | ||
Gross lease liabilities | € 156,626 | € 166,592 |
Not later than one year [member] | ||
Disclosure of Maturity Analysis for Lease Liabilities by Maturity Date [Line Items] | ||
Gross lease liabilities | 38,029 | 43,687 |
Later than one year and not later than two years [member] | ||
Disclosure of Maturity Analysis for Lease Liabilities by Maturity Date [Line Items] | ||
Gross lease liabilities | 30,435 | 29,393 |
Later than two years and not later than three years [member] | ||
Disclosure of Maturity Analysis for Lease Liabilities by Maturity Date [Line Items] | ||
Gross lease liabilities | 24,573 | 21,698 |
Beyond three years [Member] | ||
Disclosure of Maturity Analysis for Lease Liabilities by Maturity Date [Line Items] | ||
Gross lease liabilities | € 63,589 | € 71,814 |
Provision - Summary of Detailed
Provision - Summary of Detailed Information about Provision (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Provision [Line Items] | |||
Beginning Balance | € 7,307 | € 5,776 | |
Of which current | 3,014 | 3,141 | € 2,490 |
Of which non-current | 4,111 | 4,166 | 3,286 |
Provisions | 2,415 | 1,705 | |
Releases | (1,432) | (356) | |
Utilizations | (1,326) | (977) | |
Exchange differences | 161 | 217 | |
Business combination | 942 | ||
Ending Balance | 7,125 | 7,307 | |
Provisions For Litigation [Member] | |||
Disclosure Of Detailed Information About Provision [Line Items] | |||
Beginning Balance | 1,774 | 798 | |
Of which current | 12 | ||
Of which non-current | 2,126 | 1,774 | 798 |
Provisions | 991 | 1,036 | |
Releases | (627) | (39) | |
Utilizations | (21) | ||
Ending Balance | 2,138 | 1,774 | |
Provisions For Contingencies And Losses [Member] | |||
Disclosure Of Detailed Information About Provision [Line Items] | |||
Beginning Balance | 4,383 | 3,676 | |
Of which current | 2,470 | 2,476 | 1,914 |
Of which non-current | 1,503 | 1,907 | 1,762 |
Provisions | 1,060 | 536 | |
Releases | (786) | (32) | |
Utilizations | (869) | (956) | |
Exchange differences | 185 | 217 | |
Business combination | 942 | ||
Ending Balance | 3,973 | 4,383 | |
Other provisions [member] | |||
Disclosure Of Detailed Information About Provision [Line Items] | |||
Beginning Balance | 1,150 | 1,302 | |
Of which current | 532 | 665 | 576 |
Of which non-current | 482 | 485 | € 726 |
Provisions | 364 | 133 | |
Releases | (19) | (285) | |
Utilizations | (457) | ||
Exchange differences | (24) | ||
Ending Balance | € 1,014 | € 1,150 |
Provision - Additional Informat
Provision - Additional Information (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Provisions [abstract] | ||
Provisions | € 7,125 | € 7,307 |
Employee Benefits - Schedule Of
Employee Benefits - Schedule Of Employee Benefits Of The Group (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Net defined benefit liability (asset) | € 15,128 | € 18,464 |
Post-employee benefits [Member] | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Net defined benefit liability (asset) | 12,543 | 16,016 |
Other long-term employee benefits [Member] | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Net defined benefit liability (asset) | € 2,585 | € 2,448 |
Employee Benefits - Schedule _2
Employee Benefits - Schedule Of Changes In Long Term Employee Benefits (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Beginning balance | € 18,464 | € 19,085 |
Business combination | 962 | |
Current service costs | 1,154 | 1,439 |
Interest expenses | 189 | 123 |
Actuarial gains/losses in other comprehensive loss | (2,184) | 480 |
Actuarial gains in profit or loss | (152) | (184) |
Benefits paid | (2,007) | (3,367) |
Contributions | (347) | (100) |
Exchange differences | 11 | 26 |
Ending balance | 15,128 | 18,464 |
Defined benefit plans | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Beginning balance | 16,016 | |
Ending balance | 12,543 | 16,016 |
Other Long Term Employee Benefits Defined Benefits Plan | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Beginning balance | 2,448 | 2,038 |
Current service costs | 546 | 747 |
Interest expenses | 19 | 10 |
Actuarial gains/losses in other comprehensive loss | (69) | |
Actuarial gains in profit or loss | (152) | (184) |
Benefits paid | (137) | (169) |
Contributions | (70) | |
Exchange differences | 6 | |
Ending balance | 2,585 | 2,448 |
ITALY | Defined benefit plans | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Beginning balance | 2,997 | 2,492 |
Business combination | 962 | |
Current service costs | 61 | 83 |
Interest expenses | 33 | 6 |
Actuarial gains/losses in other comprehensive loss | (425) | 360 |
Benefits paid | (305) | (909) |
Exchange differences | 3 | |
Ending balance | 2,361 | 2,997 |
AUSTRIA | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Beginning balance | 13,019 | |
Ending balance | 10,182 | 13,019 |
AUSTRIA | Defined benefit plans | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Beginning balance | 13,019 | 14,555 |
Current service costs | 547 | 609 |
Interest expenses | 137 | 107 |
Actuarial gains/losses in other comprehensive loss | (1,690) | 120 |
Benefits paid | (1,565) | (2,289) |
Contributions | (277) | (100) |
Exchange differences | 11 | 17 |
Ending balance | € 10,182 | € 13,019 |
Employee Benefits - Schedule _3
Employee Benefits - Schedule Of Breakdown Of Defined Benefit Obligation By Type Of Defined Benefit Plan (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Net defined benefit liability (asset) | € 15,128 | € 18,464 | € 19,085 |
Defined benefit plans | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Net defined benefit liability (asset) | 12,543 | 16,016 | |
ITALY | Defined benefit plans | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Net defined benefit liability (asset) | 2,361 | 2,997 | 2,492 |
AUSTRIA | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Net defined benefit liability (asset) | 10,182 | 13,019 | |
AUSTRIA | Defined benefit plans | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Net defined benefit liability (asset) | 10,182 | 13,019 | € 14,555 |
Italian Leaving Indemnities | ITALY | Defined benefit plans | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Net defined benefit liability (asset) | 2,361 | 2,997 | |
Severance Payments | AUSTRIA | Defined benefit plans | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Net defined benefit liability (asset) | 6,201 | 8,139 | |
Pension Liability | AUSTRIA | Defined benefit plans | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Net defined benefit liability (asset) | € 3,981 | € 4,880 |
Employee Benefits - Schedule _4
Employee Benefits - Schedule Of Fair Value Of Defined Benefit Plans (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Fair value of plan assets | € (1,430) | € (1,244) | |
Defined-benefit plans in Austria | 15,128 | 18,464 | € 19,085 |
AUSTRIA | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Fair value of plan liabilities | 11,612 | 14,263 | |
Fair value of plan assets | (1,430) | (1,244) | |
Defined-benefit plans in Austria | € 10,182 | € 13,019 |
Employee Benefits - Schedule _5
Employee Benefits - Schedule Of Composition Of Main Plan Assets As On Reporting Date (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Plan assets, at fair value | € 1,430 | € 1,244 |
Equity investments | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Plan assets, at fair value | 666 | 614 |
Real estates | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Plan assets, at fair value | 423 | 323 |
Bonds | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Plan assets, at fair value | 137 | 130 |
Alternative investments | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Plan assets, at fair value | 108 | 65 |
Liquid funds | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Plan assets, at fair value | € 96 | € 112 |
Employee Benefits - Schedule _6
Employee Benefits - Schedule Of Main Actuarial Assumptions Of Defined Benefit Plans (Detail) - Defined benefit plans | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
ITALY | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Discount rate | 0.44% | |
Inflation rate | 1.75% | |
Salary increase rate | 2.55% | 2.81% |
ITALY | Top of range | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Average duration of plan (years) | 17 years 5 months 19 days | 14 years 10 months 24 days |
Discount rate | 3.86% | |
Inflation rate | 4.53% | |
ITALY | Bottom of range | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Average duration of plan (years) | 8 years 6 months | 9 years 9 months 18 days |
Discount rate | 3.01% | |
Inflation rate | 2.59% | |
AUSTRIA | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Salary increase rate | 2.30% | |
AUSTRIA | Top of range | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Average duration of plan (years) | 11 years | 13 years 2 months 12 days |
Discount rate | 4.16% | 1.23% |
Salary increase rate | 7.50% | |
AUSTRIA | Bottom of range | ||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | ||
Average duration of plan (years) | 7 years 7 months 6 days | 9 years 1 month 6 days |
Discount rate | 4.09% | 0.99% |
Salary increase rate | 3% |
Employee Benefits - Additional
Employee Benefits - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Long-term employee benefits | € 15,128 | € 18,464 | € 19,085 |
Description of decrease in actuarial assumption leading to changes in defined benefit obligation | A 100-basis-point decrease in the discount rate would result in a Euro1.20 million increase in the amount of the defined-benefit obligation as of December 31, 2021 (December 31, 2021: Euro1.80 million). | ||
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | € 1,200 | ||
Actuarial assumption of discount rates [member] | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Increase (decrease) in defined benefit obligation due to reasonably possible decrease in actuarial assumption | € 1,800 | ||
Percentage of reasonably possible decrease in actuarial assumption | 100% | ||
AUSTRIA | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Long-term employee benefits | 10,182 | € 13,019 | |
Post Employment Benefits Defined Benefits Plan [Member] | |||
Disclosure Of Detailed Information About Employee Benefits [Line Items] | |||
Long-term employee benefits | € 12,543 | € 16,016 |
Other Current Liabilities - Sum
Other Current Liabilities - Summary of Current Liabilities (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Other current liabilities [Abstract] | ||
Financing fund | € 23,519 | |
Payroll and employee benefits payables | 23,443 | € 25,309 |
Accrued expenses | 23,336 | 14,484 |
Tax payables | 9,561 | 8,975 |
Warrant liabilities | 9,002 | |
Customer advances | 8,535 | 8,718 |
Due to related companies | 2,020 | 5,059 |
Rental payable | 1,063 | 1,989 |
Other | 6,002 | 4,126 |
Total other current liabilities | € 106,481 | € 68,660 |
Other Current Liabilities - S_2
Other Current Liabilities - Summary of Warrant Liabilities (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 14, 2022 | Dec. 31, 2021 |
Disclosure Of Warrant Liabilities [Line Items] | |||
Total warrant liabilities | € 9,002 | ||
Public Warrant [Member] | |||
Disclosure Of Warrant Liabilities [Line Items] | |||
Total warrant liabilities | 5,826 | € 0 | |
Private Placement Warrant [Member] | |||
Disclosure Of Warrant Liabilities [Line Items] | |||
Total warrant liabilities | 3,176 | 0 | |
Warrant [Member] | |||
Disclosure Of Warrant Liabilities [Line Items] | |||
Total warrant liabilities | € 9,002 | € 5,261 | € 0 |
Other Current Liabilities - Add
Other Current Liabilities - Additional Information (Detail) | 12 Months Ended | |||||||
Dec. 14, 2022 EUR (€) shares | Oct. 20, 2022 USD ($) shares | Oct. 16, 2022 USD ($) $ / shares shares | Dec. 31, 2022 EUR (€) € / shares shares | Dec. 31, 2021 EUR (€) | Dec. 31, 2020 EUR (€) € / shares | Dec. 31, 2022 $ / shares | Dec. 14, 2022 $ / shares | |
Other Liabilities Current [Line Items] | ||||||||
Issue of equity | € 117,215,000 | € 47,713,000 | ||||||
Par value per share | $ / shares | $ 0.000001 | |||||||
Proceeds from issuance of shares | € 0 | 92,180,000 | € 24,279,000 | |||||
Warrant liabilities | 9,002,000 | |||||||
Warrants exercised term | 5 years | |||||||
Value of warrants registered for resale | 20,700,000 | |||||||
Value of warrants outstanding | € 11,280,000 | |||||||
Meritz [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Cash consideration received | $ | $ 25,000,000 | |||||||
Partial amount of consideration withheld | $ | 25,000,000 | |||||||
Dividend payables | $ | $ 2,000,000 | |||||||
Dividends payable date to be paid | 3 years | |||||||
Return on investment rate | 11.50% | |||||||
Return on investment basis | 1.115 | |||||||
Proceeds from issuance of shares | $ | $ 50,000,000 | |||||||
FFG Private Placement Subscription Shares [Member] | Meritz [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Number of shares issued | shares | 18,569,282 | |||||||
Issue of equity | $ | $ 49,999,999 | |||||||
Par value per share | $ / shares | $ 1 | |||||||
Ordinary shares [member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Par value per share | (per share) | € 1 | € 1 | $ 11.5 | |||||
Warrants, conversion basis | shares | 1 | |||||||
Ordinary shares [member] | Meritz [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Par value per share | $ / shares | 0.000001 | |||||||
Convertible preferred stock, shares issued upon conversion | shares | 15,000,000 | |||||||
LGHL Public Warrants [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Conversion of warrants | shares | 20,699,969 | |||||||
Warrants [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Warrant liabilities | € 5,261,000 | € 9,002,000 | € 0 | |||||
Revaluation surplus | € 1.13 | |||||||
LGH Private Placement Warrants [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Conversion of warrants | shares | 11,280,000 | |||||||
Warrant liabilities | € 2,609,000 | |||||||
Eighteen USD Dollar Per Share [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Par value per share | $ / shares | 18 | |||||||
Exercise price of warrants | $ / shares | 0.01 | |||||||
Number of trading days for determining the share price | 20 days | |||||||
Number of consecutive trading days for determining the share price | 30 days | |||||||
Ten USD Dollar Per Share [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Par value per share | $ / shares | 10 | |||||||
Exercise price of warrants | $ / shares | $ 0.1 | |||||||
Number of trading days for determining the share price | 20 days | |||||||
Number of consecutive trading days for determining the share price | 30 days | |||||||
Treasury shares [member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Number of shares converted | shares | 4,999,000 | |||||||
Issue of equity | € (25,023,000) | |||||||
FFG Collateral Share [Member] | ||||||||
Other Liabilities Current [Line Items] | ||||||||
Par value per share | $ / shares | $ 0.0001 |
Share Capital - Summary of Ordi
Share Capital - Summary of Ordinary Shares (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of classes of share capital [line items] | |||
Opening Balance | € 290,826 | € 250,395 | € 323,467 |
Issue of equity | 117,215 | 47,713 | |
Closing Balance | 300,806 | 290,826 | 250,395 |
Share premium [member] | |||
Disclosure of classes of share capital [line items] | |||
Opening Balance | 137,285 | 70,161 | 45,882 |
Closing Balance | € 0 | € 137,285 | € 70,161 |
Ordinary shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Opening Balance Issued and paid (Shares) | 371,386,000 | 289,165 | 265,731 |
Opening Balance | € 339,259 | € 289,165 | € 265,731 |
Ending Balance Issued and paid (Shares) | 0 | 371,386,000 | 289,165 |
Closing Balance | € 339,259 | € 289,165 | |
Series B Preferred Stock [Member] | Share premium [member] | |||
Disclosure of classes of share capital [line items] | |||
Opening Balance | € 143,739 | ||
Issue of equity | 67,124 | ||
Closing Balance | € 143,739 | ||
Series B Preferred Stock [Member] | Ordinary shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Opening Balance Issued and paid (Shares) | 389,955 | ||
Opening Balance | € 357,828 | ||
Increase (decrease) in number of shares outstanding | 18,569,000 | 50,091,000 | |
Issue of equity | € 18,569 | € 50,091 | |
Ending Balance Issued and paid (Shares) | 389,955 | ||
Closing Balance | € 357,828 | ||
Series B Preferred Stock [Member] | Ordinary shares [member] | Share premium [member] | |||
Disclosure of classes of share capital [line items] | |||
Issue of equity | € 6,454 | ||
Class B Nonvoting [Member] | Share premium [member] | |||
Disclosure of classes of share capital [line items] | |||
Issue of equity | € 0 | ||
Class B Nonvoting [Member] | Ordinary shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Increase (decrease) in number of shares outstanding | 32,130,000 | ||
Issue of equity | € 3 | ||
Conversion from FFG Shares to LGHL ordinary shares at 0.26926188 [Member] | LGHL ordinary shares [Member] | |||
Disclosure of classes of share capital [line items] | |||
Increase (decrease) in number of shares outstanding | 105,000,000 | ||
Conversion from FFG Shares to LGHL ordinary shares at 0.26926188 [Member] | LGHL ordinary shares [Member] | Share premium [member] | |||
Disclosure of classes of share capital [line items] | |||
Issue of equity | € 143,739 | ||
Ordinary Shares To Third Party Investors [Member] | Ordinary shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Increase (decrease) in number of shares outstanding | 23,434 | ||
Issue of equity | € 23,434 | ||
Ordinary Shares To Third Party Investors [Member] | Ordinary shares [member] | Share premium [member] | |||
Disclosure of classes of share capital [line items] | |||
Issue of equity | € 24,279 | ||
Exchange of LGHL ordinary shares as part of Reverse Recapitalization [Member] | Share premium [member] | |||
Disclosure of classes of share capital [line items] | |||
Issue of equity | € (143,739) | ||
Exchange of LGHL ordinary shares as part of Reverse Recapitalization [Member] | Ordinary shares [member] | |||
Disclosure of classes of share capital [line items] | |||
Increase (decrease) in number of shares outstanding | (105,000,000) |
Share Capital - Summary of Or_2
Share Capital - Summary of Ordinary Shares (Parenthetical) (Detail) | 12 Months Ended | ||||
Dec. 31, 2022 $ / shares | Dec. 31, 2022 € / shares | Dec. 14, 2022 $ / shares | Dec. 31, 2021 € / shares | Dec. 31, 2020 € / shares | |
Disclosure of classes of share capital [line items] | |||||
Par value per share | $ / shares | $ 0.000001 | ||||
Shares restated to reflect the exchange ratio | 0.26926188 | ||||
Ordinary shares [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Par value per share | (per share) | € 1 | $ 11.5 | € 1 | ||
Series B Preferred Stock [Member] | |||||
Disclosure of classes of share capital [line items] | |||||
Par value per share | € 1 | ||||
Class B Nonvoting [Member] | Ordinary shares [member] | |||||
Disclosure of classes of share capital [line items] | |||||
Par value per share | € 0.0001 | ||||
FFG Collateral Share [Member] | |||||
Disclosure of classes of share capital [line items] | |||||
Par value per share | $ / shares | $ 0.0001 | ||||
Issuance Of FFG Collateral Share [Member] | FFG Collateral Share [Member] | |||||
Disclosure of classes of share capital [line items] | |||||
Par value per share | € 0.0001 |
Share Capital - Summary of Reve
Share Capital - Summary of Reverse Recapitalization (Detail) - EUR (€) € in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Issuance Of Share For Reverse Recapitalization [Line Items] | ||
Number of ordinary shares issued and paid | 130,971,000 | |
Share premium issued and paid | € 743,501 | € 143,739 |
Convertible Preference Shares [Member] | ||
Disclosure Of Issuance Of Share For Reverse Recapitalization [Line Items] | ||
Number of ordinary shares issued and paid | 1 | |
Ordinary shares [member] | ||
Disclosure Of Issuance Of Share For Reverse Recapitalization [Line Items] | ||
Number of ordinary shares issued and paid | 117,319,824 | |
Ordinary Shares To Third Party Investors [Member] | Ordinary shares [member] | ||
Disclosure Of Issuance Of Share For Reverse Recapitalization [Line Items] | ||
Number of ordinary shares issued and paid | 15,327,000 | |
Share premium issued and paid | € 142,733 | |
Exchange Of Convertible Preference Shares [Member] | Convertible Preference Shares [Member] | ||
Disclosure Of Issuance Of Share For Reverse Recapitalization [Line Items] | ||
Number of ordinary shares issued and paid | 10,644,000 | |
Share premium issued and paid | € 99,204 | |
Exchange Of Ordinary Shares [Member] | Ordinary shares [member] | ||
Disclosure Of Issuance Of Share For Reverse Recapitalization [Line Items] | ||
Number of ordinary shares issued and paid | 105,000,000 | |
Share premium issued and paid | € 357,825 |
Share capital - Additional Info
Share capital - Additional Information (Detail) | Dec. 31, 2022 EUR (€) € / shares shares | Dec. 31, 2022 $ / shares | Dec. 14, 2022 $ / shares | Oct. 20, 2022 shares | Dec. 31, 2021 EUR (€) shares | Dec. 31, 2020 € / shares shares | Dec. 31, 2019 shares |
Disclosure of classes of share capital [line items] | |||||||
Treasury shares | € | € 25,023,000 | € 3,000 | |||||
Shares cancelled in exchange ratio | 0.26926188 | ||||||
Issued capital | € | € 339,259,000 | ||||||
Number of shares issued and fully paid | 130,971,000 | ||||||
Par value per share | $ / shares | $ 0.000001 | ||||||
LGHL Shares [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Treasury shares | € | € 13,651,246,000 | ||||||
Issued capital | € | € 110,000 | ||||||
Par value per share | $ / shares | 0.000001 | ||||||
Number of shares issued | 117,319,825 | ||||||
Number of shares outstanding | 117,319,825 | ||||||
Convertible Preference Shares [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of shares issued and fully paid | 1 | ||||||
Ordinary shares [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Number of shares issued and fully paid | 117,319,824 | ||||||
Par value per share | (per share) | € 1 | $ 11.5 | € 1 | ||||
Number of shares outstanding | 0 | 371,386,000 | 289,165 | 265,731 | |||
Meritz [Member] | Convertible Preference Shares [Member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Par value per share | $ / shares | 0.000001 | ||||||
Meritz [Member] | Ordinary shares [member] | |||||||
Disclosure of classes of share capital [line items] | |||||||
Convertible Preferred Stock Shares Issued Upon Conversion | 15,000,000 | ||||||
Par value per share | $ / shares | $ 0.000001 |
Other Reserve - Summary of Deta
Other Reserve - Summary of Detailed Information About Other Reserve (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Other Reserve [Line Items] | |||
Beginning Balance | € 149,460 | ||
Employee share-based compensation | 7,431 | € 7,208 | € 5,389 |
Debt forgiveness by shareholder | 3,176 | ||
Issuance of ordinary shares upon Reverse Recapitalization, net of issuance costs | 241,937 | ||
Ending Balance | 762,961 | 149,460 | |
Other Reserves [member] | |||
Disclosure Of Detailed Information About Other Reserve [Line Items] | |||
Beginning Balance | 149,460 | 81,198 | 44,607 |
Capital injection from shareholders | 6,454 | 67,124 | 24,279 |
Employee share-based compensation | 7,431 | 7,208 | 5,389 |
Debt forgiveness by shareholder | 3,176 | ||
Capital contribution from non-controlling interests | 566 | 119 | |
Changes in ownership interest in a subsidiary without change of control | (396) | 124 | (1,084) |
Currency translation differences | (1,011) | (6,355) | 4,893 |
Actuarial reserve relating to employee benefit | 1,261 | (405) | (181) |
Issuance of ordinary shares upon Reverse Recapitalization, net of issuance costs | 599,762 | ||
Ending Balance | 762,961 | 149,460 | 81,198 |
Share premium [member] | Other Reserves [member] | |||
Disclosure Of Detailed Information About Other Reserve [Line Items] | |||
Beginning Balance | 137,285 | 70,161 | 45,882 |
Capital injection from shareholders | 6,454 | 67,124 | 24,279 |
Employee share-based compensation | 0 | ||
Debt forgiveness by shareholder | 0 | ||
Capital contribution from non-controlling interests | 0 | ||
Changes in ownership interest in a subsidiary without change of control | 0 | ||
Currency translation differences | 0 | ||
Actuarial reserve relating to employee benefit | 0 | ||
Issuance of ordinary shares upon Reverse Recapitalization, net of issuance costs | 599,762 | ||
Ending Balance | 743,501 | 137,285 | 70,161 |
Cumulative translation adjustment [member] | Other Reserves [member] | |||
Disclosure Of Detailed Information About Other Reserve [Line Items] | |||
Beginning Balance | 295 | 6,650 | 1,757 |
Capital injection from shareholders | 0 | ||
Employee share-based compensation | 0 | ||
Debt forgiveness by shareholder | 0 | ||
Capital contribution from non-controlling interests | 0 | ||
Changes in ownership interest in a subsidiary without change of control | 0 | ||
Currency translation differences | (1,011) | (6,355) | 4,893 |
Actuarial reserve relating to employee benefit | 0 | ||
Ending Balance | (716) | 295 | 6,650 |
Re-measurement of defined benefit plans [member] | Other Reserves [member] | |||
Disclosure Of Detailed Information About Other Reserve [Line Items] | |||
Beginning Balance | (586) | (181) | 0 |
Capital injection from shareholders | 0 | ||
Employee share-based compensation | 0 | ||
Debt forgiveness by shareholder | 0 | ||
Capital contribution from non-controlling interests | 0 | ||
Changes in ownership interest in a subsidiary without change of control | 0 | ||
Currency translation differences | 0 | ||
Actuarial reserve relating to employee benefit | 1,261 | (405) | (181) |
Ending Balance | 675 | (586) | (181) |
Other Reserves [member] | Other Reserves [member] | |||
Disclosure Of Detailed Information About Other Reserve [Line Items] | |||
Beginning Balance | 12,466 | 4,568 | (3,032) |
Capital injection from shareholders | 0 | ||
Employee share-based compensation | 7,431 | 7,208 | 5,389 |
Debt forgiveness by shareholder | 3,176 | ||
Capital contribution from non-controlling interests | 566 | 119 | |
Changes in ownership interest in a subsidiary without change of control | (396) | 124 | (1,084) |
Currency translation differences | 0 | ||
Actuarial reserve relating to employee benefit | 0 | ||
Ending Balance | € 19,501 | € 12,466 | € 4,568 |
Other Reserves - Additional Inf
Other Reserves - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Detailed Information About Other Reserve [Line Items] | ||
Reverse recapitalization | € 601,330 | |
Transaction costs | € 1,570 | |
Other reserves [member] | ||
Disclosure Of Detailed Information About Other Reserve [Line Items] | ||
Issuance of ordinary shares upon Reverse Recapitalization, net of issuance costs | € 599,760 |
Non-Controlling Interests - Sum
Non-Controlling Interests - Summary of Non Controlling Interests (Detail) € in Thousands, ¥ in Thousands, $ in Thousands | 12 Months Ended | |||||||
Dec. 31, 2022 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 EUR (€) | Dec. 31, 2020 EUR (€) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2019 EUR (€) | |
Disclosure Of Non Controlling Interests [Line Items] | ||||||||
Total assets | € 732,228 | € 705,511 | ||||||
Total equity/ (deficits) | 300,806 | 290,826 | € 250,395 | € 323,467 | ||||
Net revenues | 422,312 | 308,822 | 222,612 | |||||
Net loss | € (239,751) | € (76,452) | € (135,657) | |||||
Arpège SAS [member] | ||||||||
Disclosure Of Non Controlling Interests [Line Items] | ||||||||
Group's percentage interest | 94.28% | 94.28% | 94.28% | 90.61% | ||||
Non-controlling interest percentage | 6% | 6% | 6% | |||||
Functional currency | Euro | Euro | Euro | |||||
Total assets | € 228,869 | |||||||
Total equity/ (deficits) | 104,639 | |||||||
Net revenues | 119,847 | |||||||
Net loss | € (54,834) | |||||||
Wolford AG [member] | ||||||||
Disclosure Of Non Controlling Interests [Line Items] | ||||||||
Group's percentage interest | 58.45% | 58.45% | 58.45% | 58.45% | ||||
Non-controlling interest percentage | 42% | 42% | 42% | |||||
Functional currency | Euro | Euro | Euro | |||||
Total assets | € 165,196 | |||||||
Total equity/ (deficits) | 8,072 | |||||||
Net revenues | 125,514 | |||||||
Net loss | € (34,867) | |||||||
St. John Knits International, Incorporated [member] | ||||||||
Disclosure Of Non Controlling Interests [Line Items] | ||||||||
Group's percentage interest | 96.95% | 96.95% | 96.95% | 96.95% | ||||
Non-controlling interest percentage | 3% | 3% | 3% | |||||
Functional currency | USD | USD | USD | |||||
Total assets | $ | $ 93,023 | |||||||
Total equity/ (deficits) | $ | $ (96,838) | |||||||
Net revenues | $ | $ 85,884 | |||||||
Net loss | $ | $ (34,971) | |||||||
St. John China Holdings Limited [member] | ||||||||
Disclosure Of Non Controlling Interests [Line Items] | ||||||||
Group's percentage interest | 77.56% | 77.56% | 77.56% | 77.56% | ||||
Non-controlling interest percentage | 22% | 22% | 22% | |||||
Functional currency | HKD | HKD | HKD | |||||
Total assets | € 4,967 | |||||||
Total equity/ (deficits) | 13,402 | |||||||
Net revenues | 3,762 | |||||||
Net loss | € 3,771 | |||||||
Sergio Rossi S.p.A [member] | ||||||||
Disclosure Of Non Controlling Interests [Line Items] | ||||||||
Group's percentage interest | 99.03% | 99.03% | 99.03% | 99% | ||||
Non-controlling interest percentage | 1% | 1% | 1% | |||||
Functional currency | Euro | Euro | Euro | |||||
Total assets | € 73,479 | |||||||
Total equity/ (deficits) | 20,609 | |||||||
Net revenues | 61,929 | |||||||
Net loss | € (18,124) | |||||||
Fosun Fashion Brands Management Co., Limited [member] | ||||||||
Disclosure Of Non Controlling Interests [Line Items] | ||||||||
Group's percentage interest | 80% | 80% | 80% | 80% | ||||
Non-controlling interest percentage | 20% | 20% | 20% | |||||
Functional currency | CNY | CNY | CNY | |||||
Total assets | ¥ | ¥ 6,840 | |||||||
Total equity/ (deficits) | ¥ | ¥ 1,076 | |||||||
Net revenues | ¥ | ¥ 2,844 | |||||||
Net loss | ¥ | ¥ (2,534) |
Share-Based Payment - Summary o
Share-Based Payment - Summary of Detailed Information About Number of Share Granted and Weighted Average Exercise Prices (Detail) - SEBIRs/RSU [member] shares in Thousands | 12 Months Ended | |
Dec. 31, 2022 shares € / shares | Dec. 31, 2021 shares € / shares | |
Disclosure of detailed information about Number Of Share Granted And weighted Average Exercise Prices [Line Items] | ||
Beginning balance | € / shares | € 1.5 | € 1.1 |
Granted | € / shares | 0 | 2.04 |
Ending balance | € / shares | € 1.5 | € 1.5 |
Beginning balance | shares | 8,008 | 4,591 |
Granted | shares | 0 | 3,417 |
Ending balance | shares | 8,008 | 8,008 |
Share-Based Payment - Summary_2
Share-Based Payment - Summary of Detailed Information About RSUs and SEBIRs Outstanding and Exercise Prices (Detail) - SEBIRs/RSU [member] shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 shares € / shares | Dec. 31, 2021 shares | Dec. 31, 2020 shares | |
Disclosure of detailed information about RSUs and SEBIRs outstanding and exercise prices [Line Items] | |||
Number of other equity instruments outstanding in share-based payment arrangement | 8,008 | 8,008 | 4,591 |
September 22, 2029 [member] | |||
Disclosure of detailed information about RSUs and SEBIRs outstanding and exercise prices [Line Items] | |||
Exercise price, share options granted | € / shares | € 1 | ||
Number of other equity instruments outstanding in share-based payment arrangement | 4,168 | 4,168 | |
September 22, 2029 [member] | |||
Disclosure of detailed information about RSUs and SEBIRs outstanding and exercise prices [Line Items] | |||
Exercise price, share options granted | € / shares | € 2.04 | ||
Number of other equity instruments outstanding in share-based payment arrangement | 423 | 423 | |
September 22, 2031 [member] | |||
Disclosure of detailed information about RSUs and SEBIRs outstanding and exercise prices [Line Items] | |||
Exercise price, share options granted | € / shares | € 2.04 | ||
Number of other equity instruments outstanding in share-based payment arrangement | 3,417 | 3,417 |
Share-Based Payment - Additiona
Share-Based Payment - Additional Information (Detail) | 12 Months Ended | |||||
Dec. 14, 2022 EUR (€) | Sep. 23, 2021 EUR (€) shares € / shares | Sep. 23, 2020 EUR (€) shares € / shares | Dec. 31, 2022 EUR (€) | Dec. 31, 2021 EUR (€) € / shares shares | Dec. 31, 2022 $ / shares shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Par value per share | $ / shares | $ 0.000001 | |||||
Share based compensation expenses recognized | € 74,540,000 | |||||
Brilliant fashion holdings limited [member] | Class b nonvoting ordinary shares [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Par value per share | € / shares | € 0.0001 | |||||
Number of shares issued during the period | shares | 32,129,493 | |||||
Restricted Stock Units RSU [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation by share based award number of other equity instruments granted in a share based payment arrangement | shares | 12,688,696 | 17,051,419 | ||||
Share based compensation by share based award description of maximum term equity instruments other than options | 10 years | |||||
Share based compensation by share based award maximum number of shares available for grant in a share based arrangement | shares | 32,129,493 | |||||
Share based compensation by share based award expiry date of instruments granted under share based arrangement | Sep. 22, 2030 | |||||
Share based compensation by share based award number of other equity instruments granted in a share based payment arrangement exercise price per share | € / shares | € 2.04 | |||||
Share based compensation by share based award vesting period of equity instruments granted | 4 years | 3 years | ||||
Share based compensation by share based award expiration of term of equity instruments granted | 10 years | 9 years | ||||
Restricted Stock Units RSU [Member] | September two thousand and twenty [member] | Administration expenses [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation expenses recognized | € 2,571,000 | € 5,820,000 | ||||
Restricted Stock Units RSU [Member] | September two thousand and twenty one [member] | Administration expenses [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation expenses recognized | € 4,860,000 | 1,388,000 | ||||
Restricted Stock Units RSU [Member] | Option pricing model [member] | September two thousand and twenty [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Annual risk-free interest rate | 0.61% | |||||
Fair Value of restricted stock units | 14,652,000,000 | |||||
Weighted average share price of equity instruments other than options granted during the period | € / shares | € 1.82 | |||||
Expected dividend equity instruments other than options granted during the period | € 0 | |||||
Expected volatility equity instruments other than options granted during the period | 32.61% | |||||
Restricted Stock Units RSU [Member] | Option pricing model [member] | September two thousand and twenty one [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Fair Value of restricted stock units | € 10,492,000,000 | |||||
Weighted average share price of equity instruments other than options granted during the period | € / shares | € 2.23 | |||||
Risk free interest rate equity instruments other than options granted during the period | 1.35% | |||||
Expected dividend equity instruments other than options granted during the period | € 0 | |||||
Expected volatility equity instruments other than options granted during the period | 32.52% | |||||
Restricted Stock Units RSU [Member] | Immediate vesting [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation by share based award vesting percentage of equity instruments granted | 25% | 25% | ||||
Restricted Stock Units RSU [Member] | Vesting year one [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation by share based award vesting percentage of equity instruments granted | 25% | 25% | ||||
Restricted Stock Units RSU [Member] | Vesting year two [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation by share based award vesting percentage of equity instruments granted | 25% | 25% | ||||
Restricted Stock Units RSU [Member] | Vesting year three [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation by share based award vesting percentage of equity instruments granted | 25% | 25% | ||||
Restricted Stock Units RSU [Member] | Eight senior management [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation by share based award number of other equity instruments granted in a share based payment arrangement exercise price per share | € / shares | € 1 | |||||
Restricted Stock Units RSU [Member] | One Senior Management [member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Share based compensation by share based award number of other equity instruments granted in a share based payment arrangement exercise price per share | € / shares | € 2.04 | |||||
LGHL Ordinary Share [Member] | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Stockholders Equity Note, Stock Split, Exchange Ratio | 0.26926% |
Related Party Transactions - Su
Related Party Transactions - Summary of Information About Key Management Personnel (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Related party transactions [abstract] | |||
Short-term employee benefits | € 3,320 | € 2,218 | € 1,425 |
Employee share-based compensation | 4,680 | 4,876 | 3,751 |
Total | € 8,000 | € 7,094 | € 5,176 |
Related Party Transactions - _2
Related Party Transactions - Summary of Transactions Between Related Parties (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of transactions between related parties [line items] | |||
Proceeds of shareholder loan | € 76,437 | € 85,712 | € 27,238 |
Repayments of shareholder loan | 108,286 | 43,104 | 37,606 |
Interest expenses | 9,365 | 3,858 | 1,185 |
Borrowings | 14,166 | 46,015 | |
Other current liabilities | 2,020 | 5,059 | |
Fosun International Limited [member] | |||
Disclosure of transactions between related parties [line items] | |||
Proceeds of shareholder loan | 66,531 | 79,684 | 27,238 |
Repayments of shareholder loan | 106,418 | 42,642 | 34,392 |
Interest expenses | 8,355 | 3,754 | 1,185 |
Borrowings | 39,887 | ||
Other current liabilities | 26 | 4,514 | |
Other current assets | 263 | ||
Shanghai Fosun High Technology (Group) Co., Ltd. [member] | |||
Disclosure of transactions between related parties [line items] | |||
Proceeds of shareholder loan | 5,853 | 4,510 | |
Repayments of shareholder loan | 177 | 385 | € 3,214 |
Interest expenses | 762 | 79 | |
Consulting expenses | 263 | ||
Payments on behalf of the Group | 139 | 147 | |
Borrowings | 10,363 | 4,687 | |
Other current liabilities | 1,216 | 542 | |
Shanghai Fosun High Technology Group Finance Co., Ltd. [member] | |||
Disclosure of transactions between related parties [line items] | |||
Proceeds of shareholder loan | 4,053 | 1,518 | |
Repayments of shareholder loan | 1,691 | 77 | |
Interest expenses | 248 | 25 | |
Borrowings | 3,803 | 1,441 | |
Other current liabilities | 8 | 3 | |
Shanghai Fosun Bund Property Co., Ltd. [member] | |||
Disclosure of transactions between related parties [line items] | |||
Rental expenses | 1,201 | € 371 | |
Other current liabilities | € 770 |
Notes to Consolidated Stateme_3
Notes to Consolidated Statements of Cash Flows - Additional Information (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Cash Flow Statement [Abstract] | |||
Additions to right-of-use assets | € 18,268 | € 37,557 | € 7,872 |
Lease liabilities additions | € 15,606 | € 36,527 | € 14,232 |
Notes to Consolidated Stateme_4
Notes to Consolidated Statements of Cash Flows - Summary of Proceeds From Disposal of Long Term Assets Comprised (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Detailed Information About Proceeds from Disposal of Long Term Assets [Abstract] | |||
Net book value | € 1,940 | € 1,101 | € 32,402 |
Net gain on disposals | 964 | 24,014 | 40,307 |
Total proceeds from disposal of long-term assets | € 2,904 | € 25,115 | € 72,709 |
Notes to Consolidated Stateme_5
Notes to Consolidated Statements of Cash Flows - Summary of Changes in Liabilities Arising From Financing Activities (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Changes from financing cash flows | € (41,364) | € (40,691) | |
Conversion of debt to equity | (25,035) | ||
New leases | 15,606 | 36,607 | |
Foreign exchange movement | 1,002 | 7,603 | |
Borrowings [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 66,771 | 18,837 | € 62,594 |
Changes from financing cash flows | (34,288) | 59,587 | (20,741) |
Interest paid | 0 | ||
Conversion of debt to equity | (25,035) | (23,434) | |
Business combination | 13,159 | ||
Debt forgiveness by the Group's shareholder | (7,380) | ||
New leases | 0 | ||
Contract modifications | 0 | ||
Disposals | 0 | ||
Interest expense | 0 | ||
Foreign exchange movement | 1,002 | 7,603 | 418 |
Ending balance | 33,485 | 66,771 | 18,837 |
Lease liabilities [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 140,059 | 136,885 | 169,410 |
Changes from financing cash flows | (41,364) | (40,691) | (41,601) |
Interest paid | 0 | ||
Business combination | 13,312 | ||
New leases | 15,606 | 36,607 | 16,594 |
Contract modifications | 19,922 | (15,132) | (4,082) |
Disposals | (2,516) | (1,821) | (593) |
Interest expense | 6,658 | 5,586 | 7,730 |
COVID-19-related rent concessions from lessors | (80) | (2,362) | |
Foreign exchange movement | 2,226 | 5,393 | (8,211) |
Ending balance | 140,591 | 140,059 | 136,885 |
Interest Payable [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 4,628 | 599 | 495 |
Changes from financing cash flows | 0 | ||
Interest paid | (15,808) | (1,521) | (3,327) |
New leases | 0 | ||
Contract modifications | 0 | ||
Disposals | 0 | ||
Interest expense | 11,995 | 5,357 | 3,478 |
Foreign exchange movement | (807) | 193 | (47) |
Ending balance | € 8 | € 4,628 | € 599 |
Notes to Consolidated Stateme_6
Notes to Consolidated Statements of Cash Flows - Summary of Information About Cash Flow for Leases (Detail) - EUR (€) € in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Detailed Information About Cash Outflow for Leases [Abstract] | |||
Within operating activities | € (22,614) | € (13,625) | € (5,690) |
Within investing activities | (1,454) | 22,997 | (357) |
Within financing activities | (41,364) | (40,691) | (41,601) |
Total cash outflow for leases | € (65,432) | € (31,319) | € (47,648) |
Subsequent events - Additional
Subsequent events - Additional Information (Detail) - Major purchases of assets [member] - Brand names [member] - JeanneLanvinS.a [Member] - JPY (¥) | Mar. 30, 2023 | Jun. 30, 2023 |
Disclosure of non-adjusting events after reporting period [line items] | ||
Borrowings rates | 9.10% | |
Interest payable | ¥ 84,502,623 | |
Percentage of upfront fee | 2.50% | |
Upfront fee amount | ¥ 92,860,026 | |
Purchase of intangible assets, trademarks | 3,357,520,000 | |
Meritz [Member] | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Notional amount | ¥ 3,714,401,030 |