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Longchamp reports 44% growth in 2023

2023 has been a positive year for Longchamp. The French independent leather goods label founded in 1848, usually quite close-mouthed about its financial results, has reported a 44% revenue increase in fiscal 2023 over the previous year. All of Longchamp’s distribution channels and markets have contributed to this result, but mainland China was the main growth driver, its sales increasing by a notable 84%. 

Longchamp, whose strategy doesn’t involve frequent store openings, inaugurated seven new shops in China in 2023, and now operates 40 in the country. The label now directly runs 350 stores worldwide, via 24 subsidiaries.

Longchamp’s global retail network also includes about 50 franchised stores, and approximately one thousand multibrand retailers. Longchamp also has an e-shop, which was revamped in 2023, and whose sales increased by 56% in 2023. Since 2019, the label's online sales have grown five-fold.

Longchamp is very much a family company: it is led by Jean Cassegrain, grandson of the label's founder, and his sister Sophie Delafontaine, while their brother Olivier Cassegrain is in charge of the US subsidiary. In 2020, Jean Cassegrain’s sons Adrien and Hector joined the company, respectively as head of digital transformation and CSR, and managing director for the UK and Ireland. In January 2024, Juliette Poupard, Delafontaine’s daughter, was appointed head of events.

Longchamp has 3,500 employees worldwide, of whom 1,425 in France, and this year it has hired 500 people, half of them in France.
 

SOURCE: Fashion Network 

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