SMCP Group sales soared last year, reflecting the strength of the affordable luxury category and successful expansion in Asia.
The French fashion retailer achieved 16.4 per cent growth in sales to €786 million (US$844 million) last year. SMCP stands for its three fashion brands: Sandro, Maje and Claudie Pierlot.
Like-for-like sales were up 7.1 per cent, which SMCP says was a reflection of market share gains as it outperformed rivals in the affordable luxury sector. Profit increased by 22 per cent to reach €130 million.
SMCP’s e-commerce sales grew by nearly 80 per cent to represent about a tenth of group revenues. During the year the group launched two dedicated websites in China, Maje and Sandro on Tmall.com.
The development of the accessories range is part of the group’s objective to make Claudie Pierlot, Maje and Sandro global lifestyle brands. Maje’s “M” bag was a hit last year, says the company, and sales of accessories rose by 42 per cent over the 12 months.
Meanwhile, the group has formed a partnership this year with Mondottica to develop eyewear collections for the Maje and Sandro brands, completing the range of accessories after shoes and leather goods.
A new concept for Sandro Homme stores was deployed in Greater China last year as part of the company’s international targeted expansion. There were 90 openings internationally during the year, including one on Fashion Walk in Hong Kong.
Altogether, the company opened 105 stores over the year, ending with 1223 points of sale with its brands in 36 countries. SMCP says that consistent with previous years, it will introduce new points of sale at the pace of 100 to 125 a year.