Siddhartha Shukla is set to leave his position as deputy CEO of the high-end fashion label Lanvin after a four-year tenure. Shukla, who has extensive experience in the luxury industry, joined Lanvin towards the end of 2021 with a vision to assist in the brand’s transition.
Prior to his role at Lanvin, Shukla held the position of chief brand officer at the prestigious US label, Theory. His expansive career also includes over ten years at notable fashion houses such as Gucci and Saint Laurent.
In the wake of Shukla’s departure, Lanvin Group, the parent company of the fashion brand, announced that Andy Lew, the group’s executive president and Lanvin’s chairman and CEO, will continue to maintain control of the brand and its strategic aspirations.
The exit of Shukla is the latest in a series of leadership changes within the group. Recently, Mandy West was designated as CEO of women’s clothing brand St John Knits, and Marco Pozzo took on the role of CEO at Wolford.
Additionally, the group has taken significant strategic steps towards focusing on its central brands, primarily due to the ongoing fluctuations in the luxury market. This includes the divestment of the Italian menswear label Caruso, which was sold to MondeVita Italy, a subsidiary of the Mondevo Group.
In terms of fiscal performance, the group experienced a downturn in the first half, noting a 22% decline in revenue. The Lanvin brand, in particular, witnessed the most considerable decrease, with a fall of 42%.
Why is Siddhartha Shukla leaving Lanvin?
The specific reasons for Siddhartha Shukla’s departure from Lanvin have not been disclosed.
Who will take over Shukla’s responsibilities at Lanvin?
Andy Lew, the group’s executive president and Lanvin’s chairman and CEO, will continue to oversee the brand and its strategic ambitions.
How has Lanvin’s financial performance been recently?
In the first half of the fiscal year, Lanvin’s revenue saw a significant decrease of 42%.
