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BGM Group Announces Board Reshuffle: New Leadership Embarks on a Transformative Journey Amid Tech Revolution

CHENGDU, China, Feb. 28, 2025 /PRNewswire/ — BGM Group Ltd (NASDAQ: BGM) (the “Company” or “BGM”) today announced changes to its board of directors, marking the Company’s entry into a new phase of technological transformation and sustainable growth.

Mr. Zhanchang Xin has tendered his resignation and will step down from his role as Chairman of the Company, effective March 1, 2025. He will be succeeded by Mr. Chen Xin, the current Chief Executive Officer of the Company, who will assume the position of Chairman.

As the founder of the Company, Mr. Zhanchang Xin has, over the past six decades, has played a pivotal role in leading the Company through numerous challenges and milestones, including its successful listing on NASDAQ, laying a solid foundation for the Company’s development. At this critical juncture in the Company’s strategic transformation, Mr. Zhanchang Xin, with a clear vision of the Company’s future, has made the decision to step down. He stated, “I made this decision after careful reflection. As the Company enters a new phase of development, I believe this transition is crucial to ensure that Company is positioned to continue its trajectory of growth. I am confident that the younger generation of leaders will bring innovative ideas and broad vision, allowing the Company to navigate the next chapter of its growth with renewed vigor.”

Effective March 1, 2025, Mr. Chen Xin will officially assume the role of Chairman. Since becoming Chief Executive Officer in May 2024, he has led and participated in the acquisition project of Duxiaobao Intelligent Technology (Shenzhen) Co., Ltd. and has served as a member of its management committee, accumulating extensive experience in market consolidation and corporate management. Previously, he worked as an autonomous driving algorithm engineer at Shenzhen DJI Innovation Technology Co., Ltd. and Geely Automobile Research Institute. He has extensive engineering experience in artificial intelligence algorithms and data analytics. He holds a Bachelor’s degree in Physics from Sichuan University and a Master’s degree in Physics from the National University of Singapore, with a focus on the intersection of Physics and Machine Learning. His graduate research focuses on electron microscopy image processing and three-dimensional protein molecular structure prediction, bringing profound technological expertise and cutting-edge ideas to the Company’s technological transformation.

Mr. Chen Xin stated, “I am deeply honored by the trust and support from the Board to take on the role of Chairman at such a critical time. As a member of this Company, I have witnessed the extraordinary achievements under the leadership of Mr. Zhanchang Xin. His wisdom and perseverance have provided a solid foundation for our success, while his visionary decisions have guided us into this exciting new phase.”

“With the rapid development of technology, the Company faces unprecedented opportunities and challenges. I will work closely with the Board and all employees to drive the Company’s technological transformation and strategic upgrade, helping the Company achieve higher goals in the global competition and create greater value for our shareholders.”

The Board of Directors also announces the appointment of Mr. Lin Zhang as an independent director, chairman of the compensation committee, and a member of the audit committee and the nominating and corporate governance committee, effective March 1, 2025. taking over the position previously held by Mr. Ming Jing. Mr. Lin Zhang has rich experience in AI model architecture design, development, and mass production application. Since August 2023, he has served as the chief algorithm engineer at Geely Automobile Research Institute, leading the deep learning projects for intelligent driving planning models for multiple mass-produced vehicle models. From May 2022 to July 2023, he worked as an algorithm engineer at Shanghai Yunji Zhixing Intelligent Technology Co., Ltd., where he successfully led the development of the multimodal trajectory prediction AI model for the Robotaxi project and achieved remarkable results in multi-agent interaction modeling in complex urban scenarios. He holds a Ph.D. in Physics from the National University of Singapore, with a focus on deep learning network theory in artificial intelligence. He graduated with a Bachelor’s degree in Physics from Sichuan University. His expertise and practical experience will provide strong support for Company A Group’s decision-making, helping the company navigate technological waves and foster innovation. He holds a Ph.D. in Physics from the National University of Singapore with his doctoral research focusing on the theory of deep learning networks in artificial intelligence. He graduated from Sichuan University with a Bachelor’s degree in Physics. His professional background and practical experience will provide strong support for the decision-making of BGM Group and help the Company navigate technological waves and foster innovation.

This board reshuffle represents a key move for Company in embracing the wave of technological transformation and achieving strategic upgrades. The new leadership team is committed to fostering innovation and professionalism, providing high-quality decision-making for the company, accelerating the Company’s technological transformation, expanding its market presence, and creating greater value for shareholders and the industry.

About BGM Group Ltd

BGM Group Ltd. has a strategic focus on the technology fields of AI application, intelligent robots, algorithmic computing power, cloud computing, and biopharmaceuticals.

In terms of AI application implementation, the group relies on big data mining and AI Agent technology, and utilizes the two platforms of Du Xiao Bao and Bao Wang to provide comprehensive and professional AI solutions and intelligent robot services for insurance companies, insurance brokers, and consumers. Its services cover multiple key scenarios such as sales and marketing, underwriting assessment, claims processing, and customer service. The group is capable of analyzing consumer data, building consumer profiles, accurately predicting insurance needs, and providing highly customized services for consumers.

In the field of biopharmaceuticals, the group’s biopharmaceutical division mainly produces oxytetracycline API, crude heparin sodium, and licorice preparations, which are widely supplied to the global animal husbandry, pharmaceutical, and drug retail markets. The group deeply integrates AI-assisted decision-making into every link of production and manufacturing, achieving supply chain optimization, process efficiency improvement, and market trend prediction. This provides scientific decision-making basis for the management and offers high-quality products and precise services for consumers.

Forward-looking Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates”, “target”, “going forward”, “outlook” and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

Academia and Industry Combine Insights in Cornell Convenes Discussion on Tokenization of Real-World Assets

ITHACA, N.Y., Feb. 28, 2025 /PRNewswire/ — Fintech at Cornell, an Initiative of the Cornell SC Johnson College of Business, hosted its third annual Cornell Convenes roundtable in March of 2024, bringing industry and academia to the table for a three-hour discussion of the tokenization of real-world assets. The product of this discussion is the just-released Cornell Convenes: Tokenization of Real-World Assets Report, a cross-industry whitepaper reflecting nuanced opinions from the different participants’ perspectives.

“In the past two years, the conversation around digital assets has heated up worldwide and expanded from cryptocurrencies and digital assets, to now the tokenization of real-world assets,” said Susan Joseph, Executive Director of Fintech at Cornell. “While the sector is largely in its infancy, institutional interest is growing, and academia is paving the way for research with various studies on tokenizing real-world assets.” Joseph went on to assert that industry and academia are united in the idea that tokenization may improve access to traditional assets, broaden access to previously illiquid assets, and create a 24/7 liquid market of these assets.

With this as the backdrop, Cornell Convenes: Tokenization of Real-World Assets, the third forum of its kind, hosted a conversation with around 30 professionals in the digital asset arena to promote cohesion among industry experts and academics. Chatham House Rule was observed to encourage open dialogue.

The Report serves as an informative summary of how each of the aforementioned parties can work together to take a positive step forward. The paper extracts and highlights opinions from these professionals on the tokenization of real-world assets, DeFi in the context of real-world assets and smart contracts, and disclosure, regulation, and tax.

Regulation was hotly debated. Strong opinions and educated suggestions emerged across the range of topics.”This roundtable was an exciting and frank conversation among industry participants and academia experts, which was exactly what we had hoped for,” reported Joseph. “But we should go further than a discussion, and encourage hands-on learning for industry, academia, and regulators so that regulators can create useful guardrails for these technologies and new products.”

The group concluded that continued discussion is essential so that industry can help regulators navigate the changing landscape and scholars can deepen their understanding of how to proceed. “An open, thoughtful conversation like this where people from varying backgrounds talk to rather than at each other is invaluable and necessary,” concluded Joseph.

Read the Cornell Convenes: Tokenization of Real-World Assets Report here.

Read “Toward a New Bretton Woods,” Cornell Convenes Report on Stablecoins and CBDCs here.

Read the Cornell Convenes Report on Digital Assets here.

Learn more at the Fintech at Cornell website.

Follow Fintech at Cornell on LinkedIn

Media Contact:
Sarah Magnus-Sharpe
sm2374@cornell.edu

GDETO launches “Hong Kong Mega Events HSR” campaign to promote the city to nine GBA Mainland municipalities

GUANGZHOU, China, Feb. 28, 2025 /PRNewswire/ — Starting from late February, the Hong Kong Economic and Trade Office in Guangdong (GDETO) of the Government of the Hong Kong Special Administrative Region has launched the “Hong Kong Mega Events High Speed Rails” promotion campaign to introduce Hong Kong’s mega events in 2025 and diverse tourism resources to the nine Mainland municipalities in the Greater Bay Area (GBA). GDETO has also set up a “2025 Hong Kong Mega Events Page” on its WeChat official account, facilitating the general public to access to the latest information.

GDETO holds a launch ceremony for the "Hong Kong Mega Events High Speed Rails" at the Guangzhoudong Railway Station today (Feb 28). Photo shows the Director of GDETO, Miss Linda So, giving a speech at the ceremony.
GDETO holds a launch ceremony for the “Hong Kong Mega Events High Speed Rails” at the Guangzhoudong Railway Station today (Feb 28). Photo shows the Director of GDETO, Miss Linda So, giving a speech at the ceremony.

 

GDETO holds a launch ceremony for the "Hong Kong Mega Events High Speed Rails" at the Guangzhoudong Railway Station today (Feb 28). Photo shows the officiating guests touring on the high speed rail.
GDETO holds a launch ceremony for the “Hong Kong Mega Events High Speed Rails” at the Guangzhoudong Railway Station today (Feb 28). Photo shows the officiating guests touring on the high speed rail.

 

GDETO holds a launch ceremony for the "Hong Kong Mega Events High Speed Rails" at the Guangzhoudong Railway Station today (Feb 28). Photo shows the officiating guests touring on the high speed rail.
GDETO holds a launch ceremony for the “Hong Kong Mega Events High Speed Rails” at the Guangzhoudong Railway Station today (Feb 28). Photo shows the officiating guests touring on the high speed rail.

 

GDETO holds a launch ceremony for the "Hong Kong Mega Events High Speed Rails" at the Guangzhoudong Railway Station today (Feb 28). Photo shows the officiating guests at the launch ceremony.
GDETO holds a launch ceremony for the “Hong Kong Mega Events High Speed Rails” at the Guangzhoudong Railway Station today (Feb 28). Photo shows the officiating guests at the launch ceremony.

 

GDETO holds a launch ceremony for the "Hong Kong Mega Events High Speed Rails" at the Guangzhoudong Railway Station today (Feb 28). Photo shows the officiating guests at the launch ceremony.
GDETO holds a launch ceremony for the “Hong Kong Mega Events High Speed Rails” at the Guangzhoudong Railway Station today (Feb 28). Photo shows the officiating guests at the launch ceremony.

 

 

From late February to late April, GDETO will promote the theme “Hong Kong: A Premier Hub for Mega Events & Tourism is Everywhere” on three sets of high-speed rails (HSR) covering the nine Mainland cities in the GBA. The campaign will showcase information across five major categories: culture and arts; sports; finance, innovation & technology and exhibitions; panda-themed events; and eco-tourism to passengers travelling on the HSR.

The campaign also introduces Hong Kong’s exclusive IP “Panda Friends & Family Hong Kong” to accompany passengers’ journeys and enhance the vibrancy and appeal of Hong Kong’s exciting mega events and diverse tourism offerings. 

On February 28, GDETO held a launch ceremony for the “Hong Kong Mega Events High Speed Rails” at the Guangzhoudong Railway Station. 

The Director of GDETO, Miss Linda So, said at the ceremony that the Chief Executive’s 2024 Policy Address set out to promote the integrated development of culture, sports, and tourism, and foster economic diversification. In light of such, the Government of the Hong Kong Special Administrative Region released the “Development Blueprint for Hong Kong’s Tourism Industry 2.0″ late last year, proposing four positions, four development strategies and 133 measures. More tourism products with local and international characteristics will be launched, including “culture + tourism,” “sports + tourism,” and “mega events + tourism”. 

“This is the first time GDETO promotes Hong Kong tourism simultaneously across nine Mainland municipalities in the GBA. We look forward to seeing more friends from the GBA to visit Hong Kong, to explore its unique charm, and experience its vibrant offerings”, said Miss So. 

The ceremony was officiated by representatives from the Guangdong Department of Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region; the Hong Kong and Macao Affairs Office of the CPC Guangdong Provincial Committee; the Department of Culture and Tourism of Guangdong Province; the Guangzhou Municipal Culture, Radio, Television and Tourism Bureau; and the Hong Kong Tourism Board.

The “Hong Kong Mega Events HSR” promotion campaign is organized by GDETO and supported by the Hong Kong Tourism Board, with the use of the “Panda Friends & Family Hong Kong” IP authorised by AllRightsReserved (ARR). 

According to the passenger flow data provided by the China Railway Guangzhou Group, the three sets of HSR will operates over 300 trips throughout the campaign period, reaching an estimated total of 920,000 passenger trips. 

 

Great Tea Road Retracing: A Journey Along the Ancient Tea Trade Route

WUHAN, China, Feb. 28, 2025 /PRNewswire/ — The documentary series Great Tea Road Retracing is produced by Hubei Daily Net. In the series, American tea enthusiast Hannah Carter takes viewers on an exploration along the Great Tea Road, a historical trade route that once brought Chinese tea to the world.


Great Tea Road Retracing:A Journey Along the Ancient Tea Trade Route

Hannah begins her journey in Xiamei Village, the starting point of the Great Tea Road. Strolling through the exquisitely designed courtyards with brick carvings, she explores the tradition and natural way of the tea upheld by the Zou family, who prospered in the tea trade during the Qing Dynasty. Here, she tastes the unique “rock rhyme and floral fragrance” of Wuyi Rock Tea, experiencing the profound cultural heritage it embodies.

For the second stop, Hannah delves into the homeland of Keemun black tea, uncovering the secrets behind “the queen with a golden border,” which won a gold medal at the Panama Exposition in 1915. Mr. Xie Yongzhong, a Keemun tea master, explains how the blending technique harmonizes the tea’s color, aroma, and flavor, reflecting the Chinese philosophy of “harmony through tea.”

In the third episode, Hannah arrives in Chibi, Hubei, to observe the pressing of dark brick tea. This compressed tea, traditionally sold to border regions for herdsmen, is renowned for its distinctive “aged aroma.” Dark brick tea embodies a rich history and diverse cultures, opening the path for Chinese tea to the world.

“There would be no Great Tea Road without the Shanxi merchants,” as Hannah learned along the Great Tea Road. She visits the Chang Family Mansion in Shanxi, the center of Shanxi merchants’ tea trade, for her fourth leg. The Chang family, guided by integrity and Confucian values, created a tea trade empire. Their family school nurtured talents and integrated commerce with culture.

The final chapter takes place in Hohhot, Inner Mongolia, once a “City of Ten Thousand Camels” that transported tea. Today, the “iron camels” of the ChinaEurope freight trains has taken over, continuing the legacy of the Tea Road.

From tea farmers and craftsmen to merchant guilds, from camel bells to trains, the documentary series Great Tea Road Retracing weaves together the past and future of Chinese tea culture with five key words: “authenticity,” “harmony,” “inclusion,” “integrity,” and “revival.”

YouTube Link: https://youtu.be/RBs6B10XUC8?si=0AMRWgbUgFlyrItI

 

Elevating Luxury in Shenzhen: St. Regis Hotels & Resorts Unveils its Second Landmark in Bao’an

Set High Above the Vibrant Cityscape, the Hotel Brings Celebrated Rituals and Exquisite Experiences to the City’s Growing Commercial District

SHANGHAI, Feb. 28, 2025 /PRNewswire/ — St. Regis Hotels & Resorts today announced the highly anticipated debut of The St. Regis Shenzhen Bao’an in one of China’s most dynamic cities. Soaring 51 stories above the city with panoramic views of Qianhai Bay, the hotel sets to exemplify the brand’s timeless legacy through bespoke experiences, sophisticated design, and unparalleled service.

“The debut of The St. Regis Shenzhen Bao’an marks a significant milestone as we expand our presence in this vibrant city, bringing a new level of elegance and bespoke service to the heart of one of China’s most exciting and dynamic districts,” said George Fleck, Senior Vice President and Global Brand Leader of St. Regis Hotels & Resorts. “This opening highlights our strategic focus on growth in rapidly evolving destinations, where we seamlessly blend St. Regis’ storied heritage with modern innovation, capturing the distinctive spirit of each locale to offer unparalleled experiences for the world’s most discerning travelers.”

Set on the western side of Shenzhen, Bao’an District is a dynamic and rapidly developing area known for its strategic location and excellent connectivity. The St. Regis Shenzhen Bao’an enjoys a prime location just 15 kilometers from Shenzhen Bao’an International Airport, offering effortless access for international and domestic travelers. The hotel is also conveniently close to key landmarks such as the Bao’an Government Building, the Public Cultural and Art Center, OH Bay, and the Bao’an Library, making it an ideal choice for business and leisure guests alike. With seamless connections to major transportation hubs and cultural attractions, guests can easily explore the city while enjoying the hotel’s sophisticated luxury and unparalleled convenience.

Designed by internationally acclaimed interior architect André Fu, The St. Regis Shenzhen Bao’an draws inspiration from the unique synergy between New York, the birthplace of the first St. Regis, and Shenzhen, a global hub for innovation. This concept, “A Tale of Two Cities”, harmonizes New York’s timeless glamour with Shenzhen’s dynamic energy. Fu’s signature relaxed luxury ethos reflects the brand’s 120-year history of timeless elegance and thoughtful design, creating a space that is both contemporary and deeply rooted in its locale.

Each of the 289 guestrooms and suites showcases a refined urban mansion aesthetic. Floor-to-ceiling windows frame sweeping views of the city or Qianhai Bay, while Oriental-inspired timber screens, alabaster lighting, and marquetry headboards elevate the interiors with artistic precision. A palette of dark oak parquet, Carrara marble, and muted tones of sage green and deep terra cotta creates a warm yet sophisticated ambiance, offering a sanctuary of modern elegance. Guests will also enjoy the St. Regis Butler Service, a personalized signature offering of the brand that ensures personalized and anticipatory service at every turn.

The hotel’s four distinctive dining venues harmoniously blend St. Regis sophistication with Shenzhen’s globalized culinary scene. Helmed by the acclaimed Chinese Executive Chef and culinary talent Watson Chen, Yan Ting serves classic Cantonese dishes that are reimagined with modern artistry, celebrating the finest local ingredients. The St. Regis Bar invites guests to indulge in an inspired list of cocktails, including the Bay Mary – a distinctive blend of lychee and osmanthus that also serves as the hotel’s unique twist on the iconic St. Regis Bloody Mary. The Drawing Room offers the brand’s signature Afternoon Tea ritual, with premium teas and coffees and an elegant selection of Chinese and Western delicacies. Meanwhile, The St. Regis Astor Terrace Bar provides a serene rooftop setting serving vintage wines and signature cocktails; as the sun sets, guests can partake in cocktails celebrating the transition from day to night.

For guests looking to unwind, The St. Regis Spa offers a curated selection of treatments that blend modern wellness innovations with traditional techniques. Guests can rejuvenate with tailored treatments performed by expert therapists in an environment that exudes tranquility and refinement. The spa is complemented by a state-of-the-art Fitness Center featuring a 25-meter infinity pool with sweeping bay views, offering a serene retreat from the city’s vibrant pace.

From intimate gatherings to grand celebrations, The St. Regis Shenzhen Bao’an redefines event hosting with sophisticated yet versatile facilities. The 696-square-meter pillarless Astor Ballroom, equipped with cutting-edge audiovisual technology, provides a sophisticated venue for both social and corporate occasions, ensuring every event is executed with precision and style.

“The St. Regis Shenzhen Bao’an is a new beacon of luxury in one of China’s most dynamic cities,” said Doris Deng, General Manager, The St. Regis Shenzhen Bao’an. “We look forward to welcoming guests to experience the timeless elegance and bespoke service that define the St. Regis brand.”

For more information, please visit: The St. Regis Shenzhen Bao’an Website.

ABOUT THE ST. REGIS SHENZHEN BAO’AN
The St. Regis Shenzhen Bao’an enjoys a prime location in the heart of the thriving Bao’an District. Featuring 289 elegantly appointed guest rooms and suites, each offering breathtaking views of the city skyline or the bay, the hotel promises a refined and unforgettable stay. Guests can indulge in a variety of dining experiences across four exquisite restaurants and bars, each offering a harmonious blend of St. Regis’s signature elegance and the vibrant flavors of local cuisine. The hotel also boasts over 1,000 square meters of versatile event space, including the Astor Ballroom and several meeting rooms, making it the ideal destination for both business and leisure. With personalized butler service, a state-of-the-art Fitness Center, and a luxurious spa, The St. Regis Shenzhen Bao’an redefines the standard of luxury in Shenzhen, offering an exceptional fusion of elegance, service, and innovation.

ABOUT ST. REGIS HOTELS & RESORTS 
Combining timeless glamour with a vanguard spirit, St. Regis Hotels & Resorts is committed to delivering exquisite experiences at more than 60 luxury hotels and resorts in the best addresses around the world. Beginning with the debut of The St. Regis Hotel in New York by John Jacob Astor IV at the dawn of the twentieth century, the brand has remained committed to an uncompromising level of bespoke and anticipatory service for all of its guests, delivered flawlessly by the signature St. Regis Butler Service. For more information and new openings, visit stregis.com or follow Instagram and Facebook. St. Regis is proud to participate in Marriott Bonvoy®, the global travel program from Marriott International. The program offers members an extraordinary portfolio of global brands, exclusive experiences on Marriott Bonvoy Moments, and unparalleled benefits including complimentary nights and Elite status recognition. To enroll for free or for more information about the program, visit marriottbonvoy.com.

ABOUT LUXURY GROUP BY MARRIOTT INTERNATIONAL
With an unrivaled portfolio of seven dynamic luxury brands, Marriott International is creating authentic, rare, and enriching experiences sought by today’s global luxurian. Spanning all corners of the world, Marriott International’s luxury brands group offers a boundless network of more than 529 landmark hotels and resorts in 73 countries and territories through The Ritz-Carlton, Bvlgari Hotels & Resorts, St. Regis Hotels & Resorts, EDITION, The Luxury Collection, JW Marriott, and W Hotels. From the world’s most iconic destinations to the ultimate undiscovered gems, the international hospitality leader’s collection of luxury brands is focused on elevating travel with highly contextualized, nuanced brand experiences that signal the future of luxury by allowing guests to indulge their passions while sparking personal growth. For more information on Luxury Group, stay connected on Instagram.

ABOUT MARRIOTT BONVOY®
Marriott Bonvoy’s extraordinary portfolio offers renowned hospitality in the most memorable destinations in the world, with more than 30 brands that are tailored to every type of journey. From The Ritz-Carlton and St. Regis to W Hotels and more, Marriott Bonvoy has more luxury offerings than any other travel program. Members can earn points for stays at hotels and resorts, including all-inclusive resorts and premium home rentals, and through everyday purchases with co-branded credit cards. Members can redeem their points for experiences including future stays, Marriott Bonvoy Moments™, or through partners for luxurious products from Marriott Bonvoy Boutiques®. To enroll for free or for more information about Marriott Bonvoy, visit marriottbonvoy.com.

Lanvin Group Prioritizes Creative Renewal and Operational Agility Amid Evolving Luxury Landscape

  • Revenue of €328 million in FY2024, a 23% decrease over FY2023, reflecting a transitional year marked by creative evolution and strategic realignment amid market headwinds
  • St. John and Caruso demonstrate resilience and stability, other brands undergo renewal to redefine their market positioning
  • Steady performance in Japan and North America; EMEA and Greater China adapt to shifting market dynamics
  • 2025 poised to be the cornerstone of future development, with a strengthened leadership team and bold creative visions set to reinvigorate the Group’s portfolio

NEW YORK, Feb. 28, 2025 /PRNewswire/ — Lanvin Group (NYSE: LANV, the “Group”), a global luxury fashion group with Lanvin, Wolford, St. John, Sergio Rossi, and Caruso in its portfolio of brands, today announced its preliminary, unaudited revenues for the full-year 2024. The Group reported revenues of €328 million, a 23% decrease year-over-year versus 2023, reflecting a transitional year as the Group strategically realigned its creative direction and operations to position itself for sustainable long-term growth in a dynamic global market.

Review of the Full-Year 2024 Preliminary, Unaudited Revenues

Lanvin Group Revenue by Brand

(Euros in Thousands)

2024A

2023A

2024A vs. 2023A

Preliminary

Audited

Growth %

Lanvin

82,720

111,740

-26 %

Wolford

87,642

126,280

-31 %

St. John

79,269

90,398

-12 %

Sergio Rossi

41,910

59,518

-30 %

Caruso

37,107

40,011

-7 %

Total Brands

328,648

427,947

-23 %

Eliminations & Others

-491

-1,769

Total Group

328,157

426,178

-23 %

The Group navigated through a softening market in FY2024: Amidst a dynamic global luxury landscape in 2024, Lanvin Group demonstrated strategic agility by proactively aligning its operations with evolving market conditions. While preliminary FY2024 revenues reflected broader industry trends, the Group’s decisive actions — including optimizing its retail network and enhancing operational efficiency — underscored its commitment to long-term prospects.

St. John and Caruso show resilience while other brands adapted to market shifts: The Group’s diversified brand portfolio demonstrated varying degrees of resilience in 2024. St. John and Caruso showed stability, with 12% and 7% decrease respectively, underscoring the strength of their loyal customer base and distinct market positioning while Wolford faced temporary disruptions in logistics and was affected by a macroeconomic downturn, contributing to a 31% decline in revenue. Lanvin and Sergio Rossi, despite facing industry-wide headwinds, embraced bold creative renewal, setting the stage to redefine their artistic visions and chart a course toward future growth.

Stability in Japan and North America, and EMEA and Greater China experienced softer demand: In 2024, the EMEA region experienced a decline in wholesale purchases, reflecting a cautious distributor sentiment, particularly affecting Lanvin and Sergio Rossi. In Greater China, sales continued to underperform compared to the previous year, during which the Group implemented targeted strategies to reignite growth in this key market. Japan and North American markets demonstrated greater resilience in the face of these challenges, underscoring the strength of Lanvin Group’s brand equity in these regions.

2025 Outlook

In 2025, despite a challenging macroeconomic environment, the Group remains committed to its long-term vision, leveraging its unique position in the luxury fashion industry to drive innovation and growth. The Group is enhancing its management capabilities by developing a dynamic leadership team under the new Executive President, Andy Lew, and establishing a second headquarters in Europe to strengthen local presence while optimizing decision-making efficiency.

Lanvin Group has also proactively consolidated its store network, focusing on core business units and optimizing its retail footprint. The appointment of new Artistic Director and Creative Director at Lanvin and Sergio Rossi, respectively, is expected to boost sales, with Peter Copping’s debut show in January 2025 receiving widespread acclaim. Through a strengthened leadership team, strategic retail optimization, and bold creative visions, Lanvin Group is poised to drive innovation and growth, positioning itself for long-term success in the luxury fashion industry.

Conference Call

As previously announced, today at 8:00AM EST/9:00PM CST/2:00PM CET, Lanvin Group will host a conference call to discuss its preliminary revenues for the full-year 2024 and provide an outlook for 2025. All participants who would like to join the conference call must pre-register using the link provided below. Once the registration is complete, participants will receive dial-in numbers, a passcode, and a registrant ID which can be used to join the conference call. Participants may register at any time, including up to and after the call starts.

Registration Link:
https://dpregister.com/sreg/10196995/fe885f405b

A replay of the conference call will be accessible approximately one hour after the live call until March 07, 2025, by dialing the following numbers:

US Toll Free: 1-877-344-7529
International Toll: 1-412-317-0088
Canada Toll Free: 855-669-9658
Replay Access Code: 4193525

Additionally, an archived webcast of the conference call will be available on the Group’s investor relations website at https://ir.lanvin-group.com.

Next Scheduled Announcement

The next scheduled announcement will be the full-year 2024 earnings release in April 2025. To receive email alerts of the timing of future financial news releases, as well as future announcements, please register at https://ir.lanvin-group.com.

———————————-

Note: All % changes are calculated on an actual currency exchange rate basis

Appendix

Lanvin Group Revenue by Brand:

(Euros in Thousands)

2024A

2023A

2024A vs. 2023A

Preliminary

Audited

Growth %

Lanvin

82,720

111,740

-26 %

Wolford

87,642

126,280

-31 %

St. John

79,269

90,398

-12 %

Sergio Rossi

41,910

59,518

-30 %

Caruso

37,107

40,011

-7 %

Total Brands

328,648

427,947

-23 %

Eliminations & Others

-491

-1,769

Total Group

328,157

426,178

-23 %

Lanvin Group Revenue by Geography:

(Euros in Thousands)

2024A

2023A

2024A vs. 2023A

Preliminary

Audited

Growth %

EMEA

145,308

201,871

-28 %

North America

128,583

147,310

-13 %

Greater China

33,295

53,188

-37 %

Other

20,971

23,809

-12 %

Total

328,157

426,178

-23 %

Lanvin Group Revenue by Channel:

(Euros in Thousands)

2024A

2023A

2024A vs. 2023A

Preliminary

Audited

Growth %

DTC/eCommerce

200,197

247,013

-19 %

Wholesale

115,814

161,516

-28 %

Other

12,146

17,649

-31 %

Total

328,157

426,178

-23 %

 

About Lanvin Group

Lanvin Group is a leading global luxury fashion group headquartered in Shanghai, China, managing iconic brands worldwide including Lanvin, Wolford, Sergio Rossi, St. John Knits, and Caruso. Harnessing the power of its unique strategic alliance of industry-leading partners in the luxury fashion sector, Lanvin Group strives to expand the global footprint of its portfolio brands and achieve sustainable growth through strategic investment and extensive operational know-how, combined with an intimate understanding and unparalleled access to the fastest-growing luxury fashion markets in the world. Lanvin Group is listed on the New York Stock Exchange under the ticker symbol ‘LANV’.

For more information about Lanvin Group, please visit http://www.lanvin-group.com, and to view our investor presentation, please visit www.lanvin-group.com/investor-relation/.

Disclaimer

The full-year 2024 revenues are preliminary and unaudited. The audit of the Group’s financial statements will be finalized at the time of the Group’s 2024 consolidated financial statements. These unaudited financial data are not a comprehensive statement of the Group’s financial results for the year ended December 31, 2024 and should not be viewed as a substitute for the Group’s full annual financial statements prepared in accordance with IFRS. These preliminary unaudited financial results are subject to revision in connection with the Group’s financial closing procedures, including the review of such financial results by the Group’s audit committee, and finalization and audit of the Group’s consolidated financial statements for the year ended December 31, 2024. During the preparation of the Group’s consolidated financial statements and related notes and the completion of the audit for the year ended December 31, 2024, additional adjustments to the preliminary estimated financial results presented above may be identified. Actual results for the period reported may differ from these preliminary results.

Forward-Looking Statements

This communication, including the section “2025 Outlook”, contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of the respective management of Lanvin Group and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Lanvin Group. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, Lanvin Group’s ability to timely complete its financial closing procedures and finalize its consolidated financial statements for fiscal year 2024; changes adversely affecting the business in which Lanvin Group is engaged; Lanvin Group’s projected financial information, anticipated growth rate, profitability and market opportunity may not be an indication of its actual results or future results; management of growth; the impact of health epidemics, pandemics and similar outbreaks, including the COVID-19 pandemic on Lanvin Group’s business; Lanvin Group’s ability to safeguard the value, recognition and reputation of its brands and to identify and respond to new and changing customer preferences; the ability and desire of consumers to shop; Lanvin Group’s ability to successfully implement its business strategies and plans; Lanvin Group’s ability to effectively manage its advertising and marketing expenses and achieve desired impact; its ability to accurately forecast consumer demand; high levels of competition in the personal luxury products market; disruptions to Lanvin Group’s distribution facilities or its distribution partners; Lanvin Group’s ability to negotiate, maintain or renew its license agreements; Lanvin Group’s ability to protect its intellectual property rights; Lanvin Group’s ability to attract and retain qualified employees and preserve craftmanship skills; Lanvin Group’s ability to develop and maintain effective internal controls; general economic conditions; the result of future financing efforts; and those factors discussed in the reports filed by Lanvin Group from time to time with the SEC. If any of these risks materialize or Lanvin Group’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lanvin Group presently does not know, or that Lanvin Group currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lanvin Group’s expectations, plans, or forecasts of future events and views as of the date of this communication. Lanvin Group anticipates that subsequent events and developments will cause Lanvin Group’s assessments to change. However, while Lanvin Group may elect to update these forward-looking statements at some point in the future, Lanvin Group specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Lanvin Group’s assessments of any date subsequent to the date of this communication. Accordingly, reliance should not be placed upon the forward-looking statements.

Enquiries:

Investors
Lanvin Group
Coco Wang
coco.wang@lanvin-group.com 

Media
Lanvin Group
Ingrid Zhou
ingrid.zhou@lanvin-group.com 

 

BingX Launches Global Internship Program to Cultivate Next-Gen Crypto Leaders

PANAMA CITY, Feb. 28, 2025 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce its Internship Program under its Global TalentX Strategy. Open to college graduates and post-graduates from all over the world, this long-term initiative began in early February, 2025. Designed to provide young enthusiasts with an accessible entry into the rapidly growing Web3 and crypto industries, the program aims to nurture new talent and drive innovation in the decentralized economy.

BingX Launches Global Internship Program to Cultivate Next-Gen Crypto Leaders
BingX Launches Global Internship Program to Cultivate Next-Gen Crypto Leaders

The Global Internship Program aims to lower barriers for aspiring individuals seeking to enter the rapidly evolving blockchain and cryptocurrency industries. Interns will have the opportunity to explore diverse roles across key areas, including business operations, product development, finance, marketing, HR, administration, and more, as listed on the BingX Career page. The program spans all regions where BingX operates, offering remote work flexibility with adaptable hours, and English as the primary working language. Interns will receive competitive salaries based on local market rates, gain hands-on experience with cutting-edge technologies, and gain invaluable exposure to the dynamic crypto industry. Interns who excel will also be considered for full-time positions at BingX, offering a pathway to long-term career growth in the company.

Vivien Lin, Chief Product Officer of BingX, shared: “The future of Web3 hinges on fresh perspectives and diverse skill sets. Through the Internship Program, we are not just recruiting interns — we are investing in the architects of tomorrow’s decentralized economy. By removing traditional barriers like experience requirements, we aim to democratize opportunities and ignite a new wave of innovation.”

The BingX TalentX Strategy focuses on identifying, nurturing, and empowering bright minds in the Web3 and blockchain space. At its core, BingX recognizes that talent is the key to driving innovation in the rapidly evolving cryptocurrency and blockchain industries. By providing early career opportunities and cultivating a diverse range of skill sets, BingX aims to build a robust talent pipeline that will contribute to the company’s future growth and the broader development of the decentralized economy.

About BingX 

Founded in 2018, BingX is a leading crypto exchange, serving over 20 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

CoinW at Consensus HK 2025: Driving Innovation and Blockchain’s Future

HONG KONG, Feb. 28, 2025 /PRNewswire/ — CoinW, a global leader in cryptocurrency exchanges, made a strong impression at Consensus HK 2025 as an official 4 Block sponsor. By showcasing its dedication to blockchain innovation, strategic partnerships, and community engagement, CoinW reaffirmed its position at the forefront of the Web3 revolution. Through its exclusive partnership with LALIGA and support for its innovative platforms like DeriW, WConnect, and PropW, CoinW has strengthened its position as a leader in the Web3 revolution.

The unforgettable “Connecting Legends” afterparty further cemented its role at the cutting edge of blockchain innovation and global fan engagement.

A Grand Presence at Consensus HK 2025

CoinW captured attention from the moment attendees stepped into Consensus HK 2025. An eye-catching photo booth was positioned at the venue’s entrance mimicking Hong Kong’s iconic skyline and vibrant neon lights. There was also a large banner near the registration desk making the brand impossible to miss. CoinW’s main booth was a stunning centerpiece, which was majestically designed from top to bottom.

CoinW at Consensus HK 2025: Driving Innovation and Blockchain's Future
CoinW at Consensus HK 2025: Driving Innovation and Blockchain’s Future

The first day was underscored by the presence of Christian Karembeu, a retired French football legend and LALIGA ambassador, who joined CoinW alongside LALIGA China’s CEO and VP. In a live CoinDesk broadcast, Karembeu shared his insights on the CoinW x LALIGA partnership, his personal journey, and LALIGA’s Web3 initiatives.

Karembeu further delighted fans by signing autographs at the main booth and displaying his football skills, creating an exciting and interactive experience for attendees.

Overall, CoinW’s mesmerizing set-up attracted over 1,000 participants.

Connecting Legends: CoinW’s Exclusive Afterparty

As the day turned into the night, CoinW elevated networking to the next level with an exclusive “Connecting Legends” afterparty at The Henderson – Cloud 39. This high-profile gathering brought together over 450 top industry professionals, investors, and Web3 pioneers for an evening of insightful discussions, music, and celebration.

Nassar Al Achkar, Global Operations Director, took the stage to share CoinW’s achievements in 2024 and its vision for 2025. It set the tone for an evening of innovation and collaboration.

LALIGA’S presence added to the excitement, with Christian Karembeu and LALIGA representatives signing merchandise and engaging with guests.

The event also featured dynamic presentations from DeriW and PropW, highlighting their latest advancements in Web3 trading, while WConnect led insightful discussions on its role in driving blockchain adoption.

As the night continued, a live band and DJ kept the atmosphere vibrant, ensuring an unforgettable experience for all attendees.

Empowering the Future

CoinW is more than an exchange—it’s an ecosystem builder.

During Consensus HK 2025, the company reinforced its commitment to supporting its new platforms that drive blockchain adoption:

  • DeriW: The first zero-gas-fee decentralized perpetual contract exchange, blending Ethereum’s security with Layer 3 scalability to deliver CEX-like efficiency in a decentralized framework.
  • PropW: Proprietary crypto trading platform (DMCC licensed by the Government of Dubai,) offering capital from $5,000 to $200,000 USD and up to 80% profit-sharing.
  • WConnect: A premier online forum series designed to connect developers, traders, and blockchain communities through in-depth discussions, expert insights, and knowledge sharing.

Commitment to the Blockchain Industry

As Web3 adoption accelerates, CoinW is committed to driving the next wave of blockchain innovation and financial empowerment.

Through strategic partnerships and groundbreaking platforms like DeriW, WConnect, and PropW, CoinW is committed to fostering a more inclusive blockchain ecosystem.

Now is the time to be part of the movement. Whether you’re a trader, investor, or industry leader, join CoinW in shaping the future of crypto—where innovation meets opportunity, and adoption turns into impact.

Trade, connect, and build with CoinW today.

About CoinW

Founded in 2017, CoinW is a globally trusted cryptocurrency exchange serving over 13 million users in 14 countries. With cutting-edge technology, advanced security, and a focus on empowering blockchain innovation, CoinW supports communities worldwide in realizing the transformative power of digital assets.

Website: https://www.coinw.com/ 

Twitter Official: https://twitter.com/CoinWOfficial 

Telegram: https://t.me/coinwoff 

YouTube Official: https://www.youtube.com/@CoinWOfficial 

Linkedin: https://www.linkedin.com/company/coinwofficial/