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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Summary Of Significant Accounting Policies [Abstract]

Summary of new standards and amendments issued by the IASB

New Standards and Amendments issued by the IASB and applicable to the Group from January 1, 2022

New IFRS Standards and Amendments to existing standards		Effective date
IFRS 3 References to the Conceptual Framework		January 1, 2022
IAS 16 Proceeds before Intended Use		January 1, 2022
IAS 37 Onerous Contracts – Cost of Fulfilling a Contract		January 1, 2022
Annual Improvements to IFRS Standards 2018-2020 Cycle		January 1, 2022

New standards, amendments and interpretations not yet effective

At the date of authorization of these consolidated financial statements, several new, but not yet effective, Standards and amendments to existing Standards, and Interpretations have been published by the IASB. None of these Standards or amendments to existing Standards have been adopted early by the Group.

New IFRS Standards and Amendments to existing standards		Effective date
IFRS 17 Insurance Contracts		January 1, 2023
IFRS 17 and IFRS 4 Amendments to IFRS 17 Insurance Contracts		January 1, 2023
IAS 1 Classification of Liabilities as Current or Non-current		January 1, 2023
IAS 1 Disclosure of Accounting Policies (Amendments to IAS 1 and IFRS Practice Statement 2)		January 1, 2023
IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction’ (Amendments to IAS 12)		January 1, 2023
IAS 1 Disclosure of Accounting Policies		January 1, 2023
IAS 8 Definition of Accounting Estimates		January 1, 2023

Summary of principal foreign currency exchange rates used by the Group

The principal foreign currency exchange rates used by the Group to translate other currencies into Euro, were as follows:

		2022								2021								2020
		At December 31				Average				At December 31				Average				At December 31				Average
CNY			7.4229				7.0714				7.2197				7.6372				8.0250				7.8704
CHF			0.9841				1.0036				1.0347				1.0818				1.0844				1.0706
GBP			0.8843				0.8519				0.8389				0.8603				0.9027				0.8891
HKD			8.3095				8.2390				8.8304				9.1986				9.5354				8.8482
INR			88.1789				82.5907				84.3226				87.5124				90.0633				84.4913
JPY			141.7666				137.7370				130.2725				129.8404				126.9056				121.8322
MXN			20.7529				21.0553				23.1683				24.0754				24.4650				24.3566
SEK			11.1472				10.6281				10.2407				10.1418				10.0791				10.4784
SGD			1.4321				1.4499				1.5303				1.5902				1.6273				1.5734
USD			1.0658				1.0521				1.1324				1.1835				1.2299				1.1408

Summary of scope of consolidation

The Group’s scope of consolidation at December 31, 2022 and 2021 was as follows:

 

Company

Registered office

Nominal value of registered capital

% of Group

2022

2021

Fosun Fashion Group (Cayman) Limited

Grand Cayman, Cayman Islands

Euro50,000

100.00

N.A.

Fosun Fashion Investment Holdings (HK) Limited

Hong Kong, P.R.C.

HKD100

100.00

100.00

Fosun Fashion (Shanghai) Consulting Management Co., Ltd.

Shanghai, P.R.C.

USD500,000

100.00

100.00

SJK Investment Holdings Limited

Grand Cayman, Cayman Islands

USD1,000

100.00

100.00

FFG Investment (Luxembourg) S.à r.l.

The Grand Duchy of Luxembourg

Euro12,000

100.00

100.00

Fosun Fashion Brand Management Co., Limited

Hong Kong, P.R.C.

HKD31,878

100.00

100.00

Luminary Talent Limited

Hong Kong, P.R.C.

HKD1

100.00

100.00

FFG Lily (Luxembourg) S.à r.l.

The Grand Duchy of Luxembourg

Euro12,000

100.00

100.00

FFG Wisdom (Luxembourg) S.à r.l.

The Grand Duchy of Luxembourg

Euro12,000

100.00

100.00

Fosun Fashion Brands Management Co., Limited

Shanghai, P.R.C.

CNY42,393,000

80.00

80.00

Virtuoso Investment Holdings Luxembourg S.à r.l.

The Grand Duchy of Luxembourg

Euro12,500

100.00

100.00

FFG Lucky SAS

Paris, France

Euro1

100.00

100.00

Fosun Fashion (Hainan) Industry Development Co., Ltd.

Hainan, P.R.C.

USD2,000,000

100.00

100.00

Shanghai Fulang Brand Management (Group) Co., Ltd.

Shanghai, P.R.C.

USD3,000,000

100.00

100.00

Oasis Fashion Holdings Limited

Hong Kong, P.R.C.

HKD100

100.00

100.00

LANVIN GROUP S.R.L.

Milan, Italy

Euro10,000

100.00

100.00

Lanv Fashion Pte. Ltd.

Singapore

SGD1

100.00

—

Lanvin Group Fashion (America) Inc.

Newark, U.S.A.

USD20

100.00

—

Arpège SAS

Paris, France

Euro91,135,692

94.28

90.61

Wolford AG

Breagaz, Austria

Euro46,337,596.8

58.45

58.45

Raffaele Caruso S.p.A

Soragna, Italy

Euro2,937,145

100.00

100.00

St. John Knits International, Incorporated

Delaware, U.S.A.

USD379,547

96.95

96.95

Sergio Rossi S.p.A

San Mauro Pascoli, Italy

Euro44,084,197

99.03

99.00

JEANNE LANVIN

Paris, France

Euro16,297,330

94.28

90.61

LANVIN MONTE-CARLO

Monaco, Monaco

Euro150,000

94.19

90.52

Lanvin Inc.

New York, U.S.A.

USD12,028,400

94.28

90.61

L3F CROISETTE

Paris, France

Euro20,000

94.28

90.61

L1 Bal Harbour LLC

Miami, U.S.A.

USD1,000

94.28

90.61

L2 Crystals LLC

Las Vegas, U.S.A.

USD1,000

94.28

90.61

L3 Madison LLC

New York, U.S.A.

USD1,000

94.28

90.61

L4 Rodeo Drive LLC

Beverly Hills, U.S.A.

USD1,000

94.28

90.61

L5 US ECOM LLC

New York, U.S.A.

USD1,000

94.28

90.61

L6 MADISON, LLC

New York, U.S.A.

USD1,000

94.28

90.61

L7 Chicago LLC

Chicago, U.S.A.

USD1,000

94.28

90.61

L8 South Coast Plaza LLC

Costa Mesa, U.S.A.

USD1,000

94.28

90.61

L1 SPIGA Srl

Milan, Italy

Euro46,587

94.28

90.61

L1 Outlet Srl

San Remo, Italy

Euro10,000

94.28

90.61

L1 Services Srl

Padova, Italy

Euro10,000

N.A.

90.61

LANVIN JAPAN K.K.

Tokyo, Japan

JPY100,000,000

94.28

90.61

LANVIN ASIA PACIFIC LIMITED

Hong Kong, P.R.C.

HKD12,000,000

94.28

90.61

Lans Atelier (SHANGHAI) Trading Co., Ltd.

Shanghai, P.R.C.

USD50,000,000

94.28

90.61

LANVIN MACAU LIMITED

Macao, P.R.C.

MOP25,000

94.28

90.61

LANVIN TAIWAN Ltd.

Taipei, P.R.C.

TWD31,000,000

94.28

90.61

LANVIN LIMITED

London, U.K.

GBP1

94.28

90.61

Jeanne Lanvin GmbH

München, Germany

Euro675,000

94.28

90.61

Wolford Beteiligungs GmbH

Bregenz, Austria

Euro35,000

58.45

58.45

Wolford proizvodnja in trgovina d.o.o.

Murska Sobota, Slovenia

Euro500,000

58.45

58.45

Wolford Deutschland GmbH

Bielefeld, Germany

Euro260,000

58.45

58.45

Wolford (Schweiz) AG

Opfikon, Switzerland

CHF200,000

58.45

58.45

Wolford London Ltd.

London, U.K.

GBP100,000

58.45

58.45

Wolford Paris S.A.R.L.

Paris, France

Euro1,525,000

58.45

58.45

Wolford Italia S.r.l.

Mailand, Italy

Euro500,000

58.45

58.45

Wolford España S.L.

Madrid, Spain

Euro60,000

58.45

58.45

Wolford Scandinavia ApS

Kopenhagen, Danmark

DKK800,000

58.45

58.45

Wolford America, Inc.

New York, U.S.A.

N.A.

58.45

58.45

Wolford Nederland B.V.

Amsterdam, Netherlands

Euro50,000

58.45

58.45

Wolford Canada Inc.

Vancouver, Canada

CAD100

58.45

58.45

Wolford Asia Limited

Hong Kong, P.R.C.

HKD2,850,000

58.45

58.45

Wolford Belgium N.V.

Antwerpen, Belgium

Euro124,000

58.45

58.45

Wolford (Shanghai) Trading Co., Ltd.

Shanghai, P.R.C.

Euro3,000,000

58.45

58.45

Wolford Berangere

Paris, France

Euro7,622

58.45

58.45

St. John Knits, Inc.

California, U.S.A.

USD379,547.46

96.95

96.95

ST. JOHN ASIA LIMITED

Hong Kong, P.R.C.

HKD1,000,000

96.95

96.95

St. John Canada Corporation

Nova Scotia, Canada

N.A.

96.95

96.95

St. John China Limited

Hong Kong, P.R.C.

HKD100

96.95

96.95

St. John China Holdings Limited

Hong Kong, P.R.C.

USD35,000,000

77.56

77.56

St. John (Shanghai) Trading Co., Ltd.

Shanghai, P.R.C.

USD7,000,000

77.56

77.56

St. John de Mexico S.A. de C.V.

Tijuana Baja, Mexico

PES 50,000

96.95

96.95

Shanghai Caruso Trading Co., Ltd.

Shanghai, P.R.C.

CNY1,000,000

100.00

100.00

Sergio Rossi Retail s.r.l.

San Mauro Pascoli, Italy

Euro30,000

99.03

99.00

Sergio Rossi USA Inc.

New York, U.S.A.

USD150,000

99.03

99.00

Sergio Rossi UK Limited

London, U.K.

GBP2,350,000

99.03

99.00

Sergio Rossi Japan Limited

Tokyo, Japan

JPY100,000,000

99.03

99.00

Sergio Rossi Hong Kong Limited

Hong Kong, P.R.C.

HKD99,582,000

99.03

99.00

Sergio Rossi Shanghai Trading Limited

Shanghai, P.R.C.

Euro10,600,000

99.03

99.00

Sergio Rossi Deutschland GmbH

München, Germany

Euro25,000

99.03

99.00

Summary of depreciation over the estimated useful lives of the assets

Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: 

Buildings		10 to 50 years
Machinery and equipment		3 to 20 years
Leasehold improvements		5 to 15 years
Office equipment		2 to 10 years
Other		2 to 10 years

Summary of Intangible assets are amortised on a straight-line basis

Intangible assets with a definite useful life are amortized on a straight-line basis at the following periods:

Trademarks and patents		3 to 10 years
Software		2 to 10 years
Other		1 to 5 years

X

- Definition

The disclosure of the known or reasonably estimable information relevant to assessing the possible impact that the application of a new IFRS, that has been issued but is not yet effective, will have.

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