Lanvin Group vs Tapestry Inc
Tapestry holds the stronger position because Coach is still gaining customers and revenue while Lanvin Group's brands are shrinking fast and losing money.
Lanvin Group
Shanghai-based holding group owning Lanvin, Wolford, St. John and Sergio Rossi, backed by Fosun
Tapestry Inc
Tapestry owns Coach, Kate Spade, and Stuart Weitzman, selling accessible-luxury handbags and accessories
Dimension by dimension
| Dimension | Lanvin Group | Tapestry Inc |
|---|---|---|
| Staying power of the core product | Lanvin Group's revenue fell from €387.0M in FY2023 to €240.5M in FY2025, an 18% drop in the latest year alone, showing the core brands losing ground with buyers. | Tapestry posted $7.01 billion in FY2025 revenue and grew Q3 FY2026 revenue 21% to $1.92 billion, with adjusted EPS up 62%, showing the core Coach business gaining momentum. |
| Exposure to AI absorbing the product | AI partly absorbs what Lanvin Group sells, adding another source of pressure on top of shrinking sales. | AI is unlikely to absorb what Tapestry sells, since handbags and accessories are physical goods bought for status and use. |
| How easily a giant could copy them | A giant copying Lanvin Group's positioning is likely, given LVMH and Kering already operate at the scale needed to outspend and out-market it. | A giant copying Tapestry is possible but less certain, since Coach's brand identity and customer base are harder to replicate quickly. |
| Pressure from rivals | Lanvin Group faces heavier direct pressure than Tapestry, squeezed between LVMH and Kering at the top and Prada's Versace deal consolidating the middle tier. | Tapestry faces lighter direct pressure than Lanvin Group, with Kate Spade fading against general fashion cycles while Coach itself is taking share from Capri's Michael Kors. |
| Financial footing | Lanvin Group posted adjusted EBITDA of negative €90.1M in FY2025, alongside the 18% revenue decline, pointing to a business losing money as it shrinks. | Tapestry's Q3 FY2026 adjusted EPS rose 62% alongside 21% revenue growth, pointing to a business that is both growing and becoming more profitable. |
| Overall standing | Lanvin Group's shrinking revenue and negative EBITDA leave it with weak defenses against both AI absorption and larger competitors, assessed July 2026. | Tapestry's revenue growth and rising profitability give it stronger, though not total, defenses against competitive and technological pressure, assessed July 2026. |
Questions people ask
- Which is safer, Lanvin Group or Tapestry, against AI disruption?
- Tapestry is less exposed, since AI is unlikely to absorb the physical handbags and accessories it sells. Lanvin Group is more exposed, with AI partly absorbing parts of its product line on top of already falling sales.
- Is Lanvin Group losing money?
- Yes, Lanvin Group reported an adjusted EBITDA of negative €90.1M for FY2025, alongside revenue that fell 18% year over year to €240.5M. Tapestry, by contrast, grew revenue and adjusted EPS in its most recent quarter.
- Could LVMH or Kering just copy Lanvin Group's brands?
- It is rated likely, since LVMH and Kering already operate at the scale needed to absorb the prestige demand Lanvin Group's brands rely on. Tapestry faces a softer version of this risk, rated only possible, since Coach's identity is harder to replicate.
- How is Coach performing compared to Kate Spade within Tapestry?
- Coach is gaining share, including pulling customers from Capri's Michael Kors, while Kate Spade is losing customers as its fashion cycle fades. This mixed picture still nets out to overall growth for Tapestry, unlike Lanvin Group where the core brands are all under pressure.
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