Asia Pacific stands out for fashion group SMCP
Asia Pacific has proved a standout market for affordable luxury fashion group SMCP during the first nine months of this year.
Led by a steady rollout of new stores in Hong Kong and on the mainland, all three of the company’s brands achieved double-digit growth year to date.
Apac sales rose 43.8 per cent on a constant-currency basis during the first nine months, the fastest rate of any international region the company sells in. Maje sales were up 17.8 per cent, Sandro sales by 13.5 per cent and Claudie Pierlot sales by 12.4 per cent.
Globally, SMCP’s third-quarter sales rose 14 per cent on a constant currency basis to €247.7 million. The company has opened 58 new stores year to date in line with projections.
Daniel Lalonde, SMCP’s CEO, said the company was pleased with its third quarter results as it registered double-digit growth in all international regions and continued to deliver on its network expansion roadmap.
“This performance was achieved on the back of high comparable bases. We are especially satisfied with the good performance in Europe and the strong resilience of our business in France despite a tough market impacted by adverse weather conditions. Once again, we have demonstrated the robustness of SMCP’s business model, thanks to the great work of our talented and passionate teams constantly working on further building the desirability of our three brands.”