French fashion group SMCP’s H1 sales rise by 21.4% to € 565.4 million

SMCP, the renowned French ready-to-wear Group, has witnessed its sales go up by a good 21.4 per cent to clock € 565.4 million in the first six-month period year-on-year (Y-o-Y).

Boosted by an impressive 24.5 per cent like-for-like growth during the said period, the Group’s EBIT grew Y-o-Y by a massive 76 per cent to € 45 million.

The net income rose significantly at € 20.7 million.

Brand-wise, Sandro was the biggest gainer with a sales jump of 21.7 per cent in the first 6 months and 17.7 per cent in Q2. Maje saw its H1 and Q2 sales jump by 18.5 per cent and 15.1 per cent, respectively.

The notable aspect is that sales jump happened despite pandemic-induced impact in APAC – especially China.

Strong performance in Europe, however, helped SMCP combat the troubles in China – all thanks to local demand and progressive recovery of tourism.

It was good in the US too, where the growth was substantial at 28.1 per cent Y-o-Y and 16.3 per cent when compared to H1 of 2019.

Founded in 2010, the Paris-based SMCP Group has a portfolio of four brands, namely, Sandro, Maje, Claudie Pierlot and De Fursac.