SMCP Profits Grow in the First Half of 2021 – WWD

PARIS – SMCP, the mother or father firm of accessible luxurious labels Sandro, Maje, Claudie Pierlot and De Fursac, reported a revenue of 600,000 euros, which was up 89 million euros within the first half of 2021 versus the identical prior-year interval.

“We delivered a stable efficiency in H1 2021 in all areas, significantly in APAC and within the U.S., the place our gross sales exceeded or had been again to their pre-pandemic ranges,” stated Daniel Lalonde, the outgoing chief of SMCP, in an announcement launched Friday morning.

As beforehand reported, Isabelle Guichot was named chief government officer of SMCP in August. Lalonde, who resigned from the group, will stay there till October to make sure a clean transition.

SMCP’s earnings earlier than curiosity and taxes had been again within the black, too, to 25.2 million euros, representing a 54.9 million euro achieve, because of ongoing cost-cutting measures. Adjusted EBITDA grew 81.9 % to 100.3 million euros.

SMCP gross sales within the six months ended June 30 superior 21.6 % on a reported foundation and 23.3 % on an natural foundation to 453.3 million euros, spurred by enterprise all over the world. Gross sales in Mainland China posted double-digit good points – up 24 % in reported phrases and 54.6 % on an natural foundation.

“The momentum noticed within the U.S. early this yr has been confirmed within the second quarter, going from energy to energy,” stated SMCP within the assertion.

SMCP was listed on the Paris Inventory Trade in 2017. Chinese language textile group Ruyi Group owns round 54 % of the corporate.

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