SMCP, the French premium fashion group known for brands like Sandro, Maje, Claudie Pierlot, and De Fursac, has reported a significant increase in its sales during the third quarter. The company recorded a consolidated sales growth of 10.8% to €274.5 million, with a one-month contribution from De Fursac included. On a constant currency/comparable basis, the sales saw a 9% increase.
The strong sales performance was attributed to the positive reception of SMCP’s FW19 collections and a notable acceleration in sales throughout the quarter. International sales, especially in the APAC and EMEA regions, showed impressive growth, alongside resilient performance in France.
SMCP emphasized the success of its women’s wear brands in leveraging the popularity of leather goods and shoes. Furthermore, digital sales, particularly in mainland China, saw substantial growth. The company’s strategic focus on opening new stores also proved to be a key factor in driving growth, with 28 new directly operated stores launched in Q3 to expand into new markets.
Alongside its sales growth, SMCP reported progress in integrating De Fursac, with solid advancements towards the store openings planned for 2020. Majority-owned by Chinese retail group Shandong Ruyi, the company reaffirmed its full-year guidance for sales growth of 9% to 11% on a constant currency basis, with a stable adjusted EBITDA margin compared to 2018.
CEO Daniel Lalonde expressed confidence in the company’s performance, highlighting the positive momentum in various regions and the growing market share in France. The third-quarter results reflected this optimism, with EMEA sales up by 12.4%, APAC by 23.8%, and the Americas by 11%. Even in France, with De Fursac sales included, there was a 2.5% increase.
Despite some challenges faced by Claudie Pierlot, SMCP’s overall growth has been driven by an aggressive store opening strategy. Over the past year, the company has opened a total of 107 directly operated stores across different regions, solidifying its physical presence.
With a focus on expanding physical locations, securing premium real estate, and enhancing digital sales channels, SMCP is optimistic about its future growth and aims to strengthen its position in the global fashion market.
For more information on SMCP and its brands, visit their official website. Stay updated on the latest news and developments in the fashion industry by visiting Business of Fashion.
