SMCP Reports Growing Momentum in Second Quarter – WWD

PARIS – SMCP, the mum or dad firm of the Sandro, Maje, Claudie Pierlot and De Fursac accessible luxurious labels, stated it noticed improved gross sales momentum throughout all areas within the second quarter.

Its revenues gained 59.1 p.c, or 61.1 p.c on an natural foundation, to 229.4 million in three months to June 30.

In contrast with the identical interval in 2019, this represented a decline of 14 p.c, a greater development than within the first quarter, when gross sales dropped 17 p.c primarily based on the primary quarter of 2019.

“In APAC and the U.S., our gross sales exceeded pre-pandemic degree, whereas in France and EMEA, we recorded a stable progress regardless of the closure of the whole community throughout half of the quarter, a much less promotional setting, and really low tourism,” said SMCP chief government officer Daniel Lalonde.

The corporate’s manufacturers did significantly effectively in Mainland China, the place gross sales had been up 22 p.c versus two years in the past, and within the U.S., gaining 11.3 p.c on an natural foundation in contrast with the identical interval in 2019.

In France, SMCP’s residence market, gross sales grew 33.7 p.c on an natural foundation – considerably higher than the 6.7 p.c acquire it noticed within the first quarter – to 63.2 million euros regardless of retail being closed till Could 19 as a result of nation’s lockdown.

SMCP stated it continued to progress with its One Journey strategic plan, which entails model initiatives to have interaction Millennials and implementing ship-from-store throughout Europe. Additionally it is rationalizing its retailer portfolio, and has closed 19 factors of sale within the first half – together with 25 internet closures, primarily in smaller cities, in France. It continued to broaden in Asia-Pacific, in the meantime, opening 14 new doorways, primarily in China.

Digital gross sales represented 25 p.c of enterprise for the quarter.

https://wwd.com/business-news/monetary/smcp-up-59-1-percent-second-quarter-1234889047/ | SMCP Experiences Rising Momentum in Second Quarter – WWD

Huynh Nguyen

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