French fashion group SMCP experienced a significant rebound in sales during the first quarter of 2022, primarily driven by strong performance in the Americas and EMEA regions. The company, which owns popular brands such as Sandro, Maje, Claudie Pierlot, and Fursac, reported a remarkable 23.7% organic increase in sales compared to the same period in 2021, with total sales reaching €283 million, representing a 26.4% rise.
SMCP attributed its sales growth to a combination of factors. The company’s continued focus on maintaining full prices and reducing markdowns contributed to strong like-for-like sales. Furthermore, SMCP’s digital penetration has reached 25%, surpassing levels seen before the pandemic.
The French market exhibited signs of improvement throughout the quarter, outperforming the overall market. Sales in France rose by an impressive 19.1% on a reported basis and 22.7% organically, reaching €93.7 million. In the EMEA region, sales soared by 74.9% reported and 72.9% organic, amounting to €47.5 million. Similarly, the Americas experienced significant growth, with sales increasing by 55% and 44.5% to €24.9 million.
Despite these positive results, SMCP faced challenges in the Asia Pacific region. Sales were initially promising during the Chinese New Year period, but recent Covid-19 restrictions in Hong Kong and mainland China significantly impacted sales. Similar to other businesses in the region, SMCP had to navigate strict lockdown measures due to China’s zero-Covid policy. As a result, sales in the APAC region declined by 7.2% on a reported basis and 13.9% organically, amounting to €72.8 million.
CEO Isabelle Guichot highlighted the strong performance in the Americas and EMEA as a reflection of SMCP’s successful international strategy. She emphasized the global appeal and relevance of SMCP’s brands to customers worldwide.
Analyzing the performance of individual brands, Sandro experienced a remarkable 29.4% reported sales increase and 25.9% organic growth, totaling €134.1 million. Maje witnessed a 25.6% reported sales rise and 22.1% organic growth, reaching €112.2 million. Claudie Pierlot and Fursac also reported sales increases of 18.6% and 21% respectively, totaling €36.8 million.
In conclusion, SMCP’s strong sales performance in the first quarter of 2022 showcases the resilience of its brands and their ability to adapt to changing market conditions. While challenges persist in the Asia Pacific region due to Covid-19 restrictions, the company remains optimistic about future growth prospects. With its prosperous full-price strategy and expanding digital presence, SMCP is well-positioned to seize emerging opportunities in the global fashion industry.
For more information on SMCP’s sales performance, please visit:
– SMCP Newsroom
– Global Fashion Industry Trends 2022
