
SMCP’s first-half results on Friday showed just how big a hit it took as the pandemic raged globally causing fashion to be the furthest thing from most consumers’ minds.
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SMCP’s first-half results on Friday showed just how big a hit it took as the pandemic raged globally causing fashion to be the furthest thing from most consumers’ minds.
Sandro and Maje owner SMCP's Q2 sales were “strongly impacted by Covid-19” but the company saw a “gradual sales improvement throughout quarter”. Digital boomed and Mainland China was even back to growth in June.
The Shandong Ruyi-owned parent company of Sandro, Maje, Claudie Pierlot and De Fursac announced on Tuesday, 23 June, that it has come to an agreement with a banking pool made up of 12 banks.
SMCP's sales fell in Q1 but the company is seeing signs of an upturn as China gets back to business. And it has been focusing on expanding its digital operations with e-tail sales rising.
The owner of Sandro and Maje expects sales to fall by more than 20% in Q1 due to the coronavirus, although its 2019 results show that without that, it has been progressing well.
SMCP has warned about the impact of the coronavirus on its stores in China and its sales to Chinese tourists elsewhere talking of "a material negative effect".
French premium fashion group SMCP continues to outperform the market and on Wednesday, its Q4 and full-year sales figures showed just how strong it is, even though it has had to deal with some major headwinds.
The De Fursac menswear brand newly owned by SMCP has opened its first retail space in London with a debut at Selfridges. The space is a pop-up and will stay open through the festive period and into February next year.
SMCP is continuing its successful run with the French premium fashion group on Tuesday reporting higher Q3 sales and maintaining its full-year sales guidance
SMCP has named Elina Kousourna as the new CEO of its recently acquired menswear brand De Fursac and promoted Flavien d'Audiffret to the executive's former role as the group's strategy, digital and development director.