After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded. Now, please take a moment to review the disclaimers. During this presentation, the company will be making certain forward-looking statements, including but not limited to future performance and industry outlook. Forward-looking statements are inherently subject to risks, uncertainties, and other factors, and they are not guarantees of performance. For today's presentation, I would like to introduce David Chan, Executive President and CFO of Lanvin Group, and Andy Lew, Executive President of Lanvin Group. I will now turn it over to David to start the presentation. Thank you, and welcome to all the participants. I'm David Chan, Executive President and CFO of Lanvin Group. Today, we'll take you through a comprehensive view of Lanvin Group's performance in 2024, the strategic actions we have taken to navigate a challenging environment, and our roadmap for 2025 and beyond. The key topic today is to share how we overcame these hurdles and laid the groundwork for sustainable growth. 2024 was a year defined by macroeconomic turbulence, shifting consumer behaviors, and industry-wide softness. Yet, within these challenges, we achieved critical milestones that position us for recovery. For fiscal year 2024, our global revenue was EUR 329 million, a 23% decrease from fiscal year 2023. This decline reflects broader industry trends, particularly in EMEA and Greater China, where macroeconomic pressures weighed heavily. Nevertheless, we took proactive measures to reduce G&A expenses and improve working capital management. We also consolidated our store network to optimize our retail footprint and concentrate on our core business units. These efforts, along with the appointment of Andy Lew as Executive President, whose expertise in brand transformation is expected to drive strategy implementation and bring transformative initiatives to our group. Andy's leadership, combined with new creative appointments at Lanvin and Sergio Rossi, signals a new era of innovation and growth. Let's take a deeper look at our 2024 results. Despite a 23% decline in revenue, with effective cost control and inventory management, we managed to maintain a stable gross margin of 56%, compared with a gross margin of 59% last year. While contribution profit has just deepened our phased challenges, we are encouraged by progress in operation efficiency. G&A expenses were reduced by 15% year over year, a testament to our streamlined cost structure. We have also reduced directly operated stores, focusing on core and high-potential markets, such as EMEA for Lanvin and Sergio Rossi, and North America for St. John. We have made significant strides in cash management, with a 32% improvement in operating cash flow from 2020 to 2024, driven by reduced inventory days and tighter receivable management. These results demonstrate our dedication to operational excellence and financial discipline. Since 2020, Lanvin Group has delivered 10% CAGR, underscoring the resilience of our diversified portfolio. Our brands: Lanvin, Wolford, Sergio Rossi, St. John Knits, and Caruso each contributed to the group's performance, leveraging their distinctive strengths and strategies to grow our global footprint. Let's turn our attention to slide seven, which highlights the revitalization efforts across our brand portfolio. During the past years, we have made significant strides in aligning them for sustainable growth. Starting with Caruso, our luxury tailoring powerhouse, and St. John, the iconic American luxury brand, both show strong improvements. Caruso's contribution profit increased to EUR 8.8 million in 2024, up from EUR 3.2 million in 2022, a reflection of our success in refined distribution strategy and growing demand for Caruso's playful elegance in bespoke tailoring. Similarly, St. John's contribution profit grew from a loss in 2020 to EUR 8 million in 2024, thanks to strategic investments in brand repositioning and digital infrastructure. We're confident that these steps will further amplify margins in the coming years. Lanvin, our crown jewel, saw revenue increase to EUR 82.7 million in 2024, more than doubling from EUR 35 million in 2020. This growth was driven by continued investment in increasing the brand's desirability and reinvigorating its Parisian heritage, while appealing to a new generation of luxury consumers. Wolford, the Austrian legwear and ready-to-wear innovator, also made strides. We adjusted the product mix to position Wolford as a full lifestyle brand, expanding beyond legwear to cater to the growing demand for versatile high-end essentials. Finally, Sergio Rossi launched a global retail expansion since 2022, shifting from heavy reliance on wholesale into enhanced margin control and brand equity. While the top line is facing challenges, our foundational improvements set the stage for development. These achievements underscore our ability to focus on long-term strategic priorities while undergoing short-term challenges. Let's now turn to slide eight, which outlines our journey towards profitability. Over the past year, global headwinds, including inflationary pressures and shifting consumer behaviors, impacted our top line performance. However, we have repositioned and responded decisively by sharpening our focus on operation efficiency and cost discipline. There are three key pillars of our turnaround plans, which includes, first, gross profit resilience. Despite revenue declines, we maintain strong gross margins, reflecting disciplined pricing and reduced promotional activity. Second, OpEx streamlining. We continue to reduce operating expenses since 2022, a testament to our commitment to leaner operations. Last but not least is break-even optimization. We've narrowed our break-even point through rigorous cost management, ensuring our position to capitalize on revenue recovery. In 2022, our OpEx, which includes marketing, selling, and G&A expenses, stood at EUR 378 million. By 2024, we reduced this to EUR 326 million, a 14% cumulative saving over two years. Equally important is our improved cash management. Net cash used in operating activities improved by 27% since 2022, decreasing from EUR -81 million to EUR -59 million. This was achieved through tighter working capital controls, including reducing inventory days through minimizing excess store stock and accelerating receivable collection. In 2024, we welcome new creative leadership with the appointment of Peter Kopping as Artistic Director of Lanvin and Paul Andrew as Creative Director of Sergio Rossi. Their vision and creativity are already making a significant impact on our brands, as seen in the positive reception of Lanvin's debut show under Peter Kopping in January. I will now hand over to Andy, who will provide insights into our achievements in 2024 and strategic priorities in 2025. Thank you, David. I'm Andy Lew, and I'm honored to serve as an Executive President of Lanvin Group, and I'm thrilled to share our brand-level achievements in 2024, starting with our iconic flagship brand, Lanvin. As mentioned by David, in June 2024, we announced Peter Kopping as Artistic Director, marking a pivotal moment for the brand. Peter's fresh creative vision has already reinvigorated Lanvin's DNA, blending timeless elegance with contemporary artistry. Lanvin has also launched the Character Studies series, a bold initiative that bridges couture and modern culture. This was further amplified by our collaboration with choreographer Benjamin Millepied, whose work brought a dynamic, performative edge to our campaigns. Financially, Lanvin demonstrated remarkable resilience. Despite market pressures, we maintained a stable gross profit margin through disciplined cost control and inventory optimization. The highlight was Peter Kopping's debut fashion show in Paris, a triumphant return to elegance that garnered global acclaim and set the stage for our Fall 2025 collection. Now, let's shift our focus to Wolford. Wolford is crafting compelling brand campaigns and product narratives that not only highlight its unique value proposition but also elevate its positioning within the luxury market. Those marketing campaigns highlighted Wolford's unique value proposition. Collaborations like the Etro x Wolford Capsule Collection, merging Italian flair with Austrian precision, not only expanded our audience but also reinforced cultural relevance. Lastly, Wolford is enhancing the brand experience through a refreshed web shop identity and optimized retail and wholesale distribution, ensuring a cohesive and premium brand presence across all touchpoints. Turning to Sergio Rossi, in July, Sergio Rossi appointed Paul Andrew as Creative Director, a visionary move to redefine Italian footwear. Paul's Fall 2025 collection, set to debut in Milan, blends architecture boldness and timeless craftsmanship. Sergio Rossi also optimized its retail network, focusing on key markets like EMEA and Japan. Efficiency continued to be a priority for Sergio Rossi, with factory structuring measures aimed at improving production lead time and productivity, all while reducing costs. Additionally, Sergio Rossi has expanded its wholesale development by opening franchise stores in the Middle East and Taiwan through local partnerships, expanding its global footprint. St. John's 2024 strategy centered on focus and agility. We streamlined operations to proprietary North America, upgrading flagship stores in Beverly Hills and New York. These spaces now showcase our newest collection, which marries classic knits with tech fabrics and a modern edge. Our new wholesale model, developed with our partnership with Nordstrom, improved marketing control and brand consistency. Digitally, the revamped e-commerce platform has already shown improvements in conversions. Lastly, the shift to an asset-light model, including the sale of non-core products, enhanced our operational flexibility. Finally, Caruso emphasized resilience despite a challenging luxury landscape. Not only did Caruso achieve its revenue growth in its proprietary brand business, margin improvement was a standout. Positive net profit and robust cash flow underscored the success of Caruso's strategy. Brand appeal is growing for Caruso, thanks to high-standard yet efficient content creation, credible collaborations, and trade events that resonate with their customers. Effective prototype and fashion show pieces management have also played a crucial role in the success. Proceeding to page 22, I am pleased to present our strategic priorities for 2025: initiatives to drive growth, agility, and profitability across the portfolio. First and foremost, leadership and organizational excellence. We're building a dynamic leadership team, combining industry veterans with fresh perspectives to foster innovation and rapid decision-making. Our new European headquarters, based in Milan, will enhance regional oversight, streamline operations, and strengthen relationships with key stakeholders. Second, creative momentum. The appointments of Peter Kopping and Paul Andrew mark a new era of artistic vision. Their collections will reinvigorate brand relevance, supported by 360-degree marketing campaigns from runway shows to social media activations. Third, operational efficiency remains a cornerstone. We'll continue optimizing store networks, prioritizing high-traffic locations, and refining inventory management and pricing strategies to improve cash conversion cycles and reduce working capital. Fourth, market expansion. We're committed to key cities while tapping into high-growth luxury markets. In the Middle East, new franchise stores, as an example, Sergio Rossi and Dubai Mall, and partnerships are key initiatives for us. Additionally, we'll also continue to explore emerging categories to diversify revenue streams. At Lanvin Group, we view challenges as catalysts for transformation. With the refreshed leadership team, strategic market focus, and unwavering commitment to craftsmanship, we're confident in our ability to deliver sustainable growth and restore profitability in 2025 and beyond. With that, I'd like to turn it back to David to go through some of the consolidated and brand-level results in 2024. Thank you, Andy. The year 2024 was marked by significant macroeconomic challenges, yet two brands within the Lanvin Group portfolio demonstrated notable resilience. St. John and Caruso stood out amidst broader declines, leveraging strategic regional focus and operational agility. St. John's emphasis on North America, coupled with its premium positioning and successful partnership with Nordstrom, helped stabilize performance. Similarly, Caruso, though facing a mild revenue drop, achieved double-digit growth in its own brand business, driven by strong demand for its playful yet elegant collections and made-to-measure offerings. These successes partially offset pressure seen in other brands. Lanvin, grappling with creative transitions and softer luxury demand, saw revenue decline, while Sergio Rossi was impacted by EMEA wholesale softness and reduced third-party production. Wolford is also negatively influenced by logistics integration starting from Q2 2024. To put this into perspective, in terms of group-level adjusted EBITDA in 2024, we estimate that the integration of Wolford's logistics had an impact ranging from EUR 14 million-EUR 18 million and the creative transition impact of between EUR 5 million-EUR 10 million. Stripping out these transitional costs, our 2024 adjusted EBITDA is estimated at EUR -64 million to EUR -73 million, a range consistent with our 2023 results. This stability is notable given the significantly slower demand environment in 2024, underscoring our ability to maintain operational discipline amid external pressures. I will now provide with more details on the 2024 financial results for each brand. 2024, as we mentioned, was a transitional year for Lanvin. Revenue declined 26% to EUR 83 million, reflecting softer luxury demand and creative leadership gaps. While wholesale faced pressure, retail network optimizations and D2C resilience mitigated decline. In the same time, Lanvin stabilized margins through disciplined actions. Gross margin improved to 59%, supported by pricing discipline and inventory management. G&A expenses were reduced by 14%, underscoring operational efficiencies. The appointment of Peter Kopping as Artistic Director marked a turning point. His acclaimed January 2025 fashion show has already reignited industry interest, with new collections set to launch in the second half of 2025. We're confident that Peter's creative vision and targeted investment will drive momentum in 2025. Moving on to Wolford, Wolford navigated significant challenges in 2024, with revenue declining 30% to EUR 88 million. Macroeconomic volatilities, logistic disruption, and wholesale softness in EMEA weighed on results. Looking ahead, Wolford's 75th anniversary in 2025 will be a catalyst. We are streamlining product launches, stabilizing operations, and leveraging digital channels to reconnect with loyal customers. Wolford also has established a new management board to aim at sustainable future growth for the company. Now, I'd like to discuss Sergio Rossi. Sergio Rossi faced headwinds in 2024, with revenue down 30% to EUR 42 million. EMEA market declined 35%, mainly due to wholesale conditions and planned reduction of lower margin third-party production. Greater China market declined 35% due to the challenging retail market. Japan market showed a slight decrease of 8%. Key actions included administrative expenses reduced by 18% through cost control, and appointment of Paul Andrew as Creative Director, whose first collection aims to revitalize wholesale partnership in 2025. While gross margin fell to 43%, wholesale channel enhancement and targeted regional partnership will stabilize margins. Sergio Rossi's focus on operational efficiencies and fresh designs in 2025 will be critical to recovery. Moving to St. John, St. John demonstrated resilience in 2024. While revenue declined 12% to EUR 79 million, strategic focus yielded critical wins. Gross margin surged 6 percentage points to 69% from 63%, driven by full-price sell-through and its accessible partnership with Nordstrom. North America outperformed, contributing 94% of revenue, while intent at the national markets was streamlined to reduce complexity. In 2025, St. John will deepen its North America focus, emphasizing its Southern California heritage through storytelling and knitwear leadership. Enhanced digital capability is targeted to further amplify customer engagement. Finally, I'd like to discuss Caruso's results. Caruso navigated a tough luxury landscape with agility. Revenue decreased 7% to EUR 37 million. The Caruso brand business grew double digits, fueled by the strong demand for its playful, elegant collection and made-to-measure offerings. Gross margin held steady at 29%, with contribution profit margin stabilized at 24%. In 2025, Caruso will expand distribution and amplify marketing efforts. Caruso's craftsmanship and service excellence position it to outperform even in a challenging market. At this point, I'd like to have Andy provide some final remarks. Thank you, David, for the review. In closing, I want to emphasize that Lanvin Group's strength lies in our diverse brand portfolio and deep connections with loyal customers. Each brand—Lanvin, Wolford, Sergio Rossi, St. John, and Caruso—brings unique heritage and craftsmanship, the foundation of an enduring luxury appeal. 2024 tested our resilience, but it has also sharpened our strategy. While challenges persist, Lanvin Group is emerging leaner, more focused, and better positioned to capitalize on luxury's long-term fundamentals. As we enter 2025, we do so with optimism. Peter Kopping's new collection, Wolford's anniversary campaign, and Paul Andrew's vision for Sergio Rossi are just the beginning. With a revitalized team, we're poised to turn this pivotal moment into a decade of growth. Thank you for your time today. Now, I'll hand it back for questions. Thank you, David and Andy, for that comprehensive overview. We will now open the floor to questions. To ask a question, you may press star, then one on your touchstone phone. If you are using a speakerphone, please pick up your handset before pressing the keys. If at any time your question has been addressed and you would like to withdraw your question, please press star, then two. At this time, we will pause momentarily to assemble our roster. Once again, if you would like to ask a question, please press star, then one to join the question queue. This concludes our question-and-answer session and concludes our conference call today. Thank you for attending today's presentation. You may now disconnect.