French fashion retail giant SMCP reported Q1 sales up 9% on Monday with a 7.2% currency-neutral rise showing that it has enjoyed “another resilient quarter despite a challenging environment in France.”
France’s buoyant SMCP, the owner of the Sandro, Maje and Claudie Pierlot brands, on Tuesday announced a new partnership with China’s JD.com and will expand its online presence in the world’s key luxury growth market.
France accounts for over one quarter of the total sales of the top 100 luxury corporations worldwide according to Deloitte’s 2019 report, with 9 groups listed and LVMH, L'Oréal, Kering and Chanel in the top 10.
Milan expects to host nearly 500,000 visitors on April 8-14 for the huge, city-wide event, an incredible opportunity for fashion and luxury labels to present countless projects and special initiatives.
Having hit 1 billion euros in revenues and accomplished its objective of 13% growth in 2018, despite a slow-down at the end of the year, 2019 could well be the year that SMCP looks to acquire a new brand.