Asian expansion helps bolster SMCP sales
Global expansion, including Asia, has helped bolster third-quarter sales for Paris-based apparel and accessories retailer SMCP.
Sales for the quarter rose 17.7 per cent (20 per cent at constant currency) to €218 million (US$258.8 million), while nine-month sales were up 16.8 per cent (17.8 per cent) to €657 million.
SMCP reports continued strong momentum internationally driven by all its three brands, Claudie Pierlot, Maje and Sandro. International sales, up by 28.1 per cent (30.1 per cent), contributed 58 per cent of the group’s turnover for the nine months of the year.
The group has opened 28 stores since the end of June, representing 97 opens over the past 12 months. Taiwan opened as a new market, a “meaningful” free-stand store opened in Shenzhen while Maje opened at Elements in Hong Kong.
In Greater China, SMCP opened in two new cities, Harbin and Kunming, taking its presence to 20 cities. It also opened Maje and Sandro e-shops in China. Maje recorded 8 per cent sales growth with “great momentum” in China.
At the end of June, SMCP brands had more than 1200 points of sales in 37 countries.
CEO Daniel Lalonde says the strong third-quarter performance is testament to the strength of SMCP’s business model, combining the codes of luxury and fast fashion.
Evelyne Chetrite and Judith Milgrom founded Sandro and Maje in Paris, in 1984 and 1998 respectively, and continue to provide creative direction for the brands. Claudie Pierlot was founded in 1984 by Claudie Pierlot, and acquired by SMCP in 2009.