Lanvin Group announced on Monday that David Chan, its executive president and chief financial officer, has decided to step down from his position, effective October 27 “to pursue new professional opportunities”.

There was no clue as to what those new opportunities are.

The company added that since joining Lanvin Group at its inception, Chan “has been instrumental in strengthening the group’s strategic and financial foundation, advancing its transformation into a global luxury platform, and supporting its continued progress following the company’s NYSE listing”.

And chairman Zhen Huang thanked him on behalf of the board and the team “for his dedication and leadership over the past years. His significant contributions have been pivotal in shaping the group’s strategic direction and transformation efforts. We wish him continued success in his future endeavours. Lanvin Group remains well-positioned to continue delivering growth and creating long-term shareholder value”.

Chan himself said that it’s been a privilege to be part of the “remarkable journey” and that the group is positioned for “sustainable growth”.

Not that he appears to be cutting all ties with he business as the announcement said that the company “has implemented a structured transition plan to ensure continuity across its finance and operations functions. While Mr Chan steps down from his executive role, he may continue to support the company in an advisory capacity”.

But Chan’s departure was clearly not part of a planned succession process as the company said it will “provide further updates regarding the appointment of a successor in due course”.

Lanvin Group owns its eponymous brand as well as Wolford, Sergio Rossi, St John and Caruso, but has struggled in recent periods.

Only last month it said that for the first half of 2025, revenue fell 22% to €133 million and the Lanvin label saw its sales falling 40%. Gross profit dropped by 26.8% to €71.9 million, and gross operating losses deepened. It blamed ongoing weakness in the global luxury market, lower wholesale sales in EMEA, and the Group’s strategic pivot to direct-to-consumer sales.

Its brand story was one of declines almost across the board, although St John was relatively stable.

In its most recent full-year results reported in February, it had said total company revenue had dropped by 23% to €328.6 million. Lanvin revenue was down 26% at €82.7 million with Wolford down 30% at €87.9 million. St John fell 12% to €79 million, Sergio Rossi fell 30% to €41.9 million and Caruso dropped 7% to €37 million.

The meant gross profit decreased to €183 million, reflecting a margin of 56%, compared to €251 million in 2023 with a margin of 59%.