SMCP Sales Rise 10.8% in Q3 Driven By Store Expansion



PARIS — SMCP, the group behind contemporary French fashion labels Sandro, Maje and Claudie Pierlot, posted a 10.8 percent increase in third quarter sales as it continued to expand its store network across Asia and the Middle East at a vigorous pace.
Sales for the three months came to 274.5 million euros, with the group flagging market share gains in France, its slower market, and a good start abroad for its fall collections.
“We are confident that this good momentum will continue in the next quarter,” said Daniel Lalonde, chief executive officer of SMCP.
Sales at constant currency and scope rose 9 percent over the three months, spurred on by brisk growth in Asia, up 21.5 percent.
The group has been expanding its store network abroad rapidly, with 55 more points of sale in the Europe and Middle East area and 66 in Asia compared to the same period last year. Meanwhile, it has been downsizing its network in France, where it closed 6 stores over the period, while recently opening a new store on the Avenue des Champs-Élysées for its Claudie Pierlot brand, with an eye to grabbing the attention of tourists with a new, sleeker store format. 
At constant currency and scope, sales

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Rachel Meadows

Rachel Meadows

Trending topics news writer who enjoys cooking, walking her dog and travel.

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