SMCP sales accelerate 19 percent in the first half

In the first half of 2016, the SMCP Group posted sales of 377.2 million euros (420.2 million dollars), up 19.2 percent compared to last year. This performance, the company said, was driven by strong like-for-like growth of 9.3 percent and the continuation of the Group’s targeted international expansion.

Commenting on the first half trading, Daniel Lalonde, President & CEO of SMCP, said, “In the first half 2016, our Group saw outstanding performances for all our brands and regions, with total sales up 19.2 percent. We have made remarkable progress on all of our strategic levers and intend to pursue our successful strategy with the aim of becoming the global leader in accessible luxury.”

Reported strong growth across all regions

In France, SMCP experienced strong results despite a challenging environment. The Group registered total growth of 12 percent. Sales generated outside of France delivered a total growth of 27 percent and accounted for 51percent of total sales.

By region, the Group sales were up 26 percent in Europe and Middle East, and 9 percent in the Americas. Asia-Pacific, and in particular Greater China, reported an all-store growth of 51 percent.

All three brands posted strong results. In particular, Claudie Pierlot demonstrated outstanding performance with sales up 31 percent, and Sandro and Maje grew by more than 15 percent. In the first half of 2016, ready-to-wear categories that enjoyed particularly strong success were jackets, skirts and dresses. The Group’s leather goods and shoes saw total sales growth of 59 percent driven by iconic products such as the Maje M bag. The men’s market via Sandro Menswear also revealed its worldwide potential.

Targeted retail expansion boosted growth

The Group pursued its expansion with 58 net openings over the first semester across its three brands. By the end of June 2016, SMCP operated 1,176 stores and was present in 35 countries. SMCP’s expansion remained focused on international cities, with 74 percent of openings taking place outside of France.

In the first semester, SMCP opened 14 points of sale in Greater China, notably image stores in Shanghai, Chengdu and Shenzhen, in addition to two flagships stores in Fashion Walk Hong Kong. The Group also opened several stores in Australia, notably Melbourne, and in Korea. In Europe, the Group opened new stores across its three brands in key cities such as Rome, Geneva and Valencia.

Other key openings included stores in the Middle East (Dubai) and in the US (New York). In the first half of 2016, SMCP continued to invest in its digital strategy with the launch of Sandro and Maje online stores in China with T-Mall (Alibaba Group). In Europe, Sandro launched e-shops in Spain and Germany and Claudie Pierlot opened an online store with Harrod’s.com. As a result, online sales accelerated 104 percent.

Picture:Maje