French fashion group SMCP, the parent of Sadro, Maje, and Claudie Pierlo, has reported sales at 305 million euros in the first quarter, up 8 percent at constant exchange and 7 percent on an organic basis versus 2022 driven by like-for-like growth.
Commenting on the results, Isabelle Guichot, CEO of SMCP, stated: “We are particularly pleased with the strong momentum in France, the dynamism in Europe, the return to growth in Asia and the resilience of our sales in America after an excellent 2022.
“We remain vigilant regarding the evolution of the macro-economic, social, and geopolitical context but are confident that the positive momentum will continue in the coming quarters and thus confirm our annual targets.”
Strong sales in home market
In France, the company’s sales reached 106 million euros in the first quarter, with an organic growth of 13 percent compared to 2022 driven by the performance of the like-for-like network and by the demand of local and tourist customers. The “Other brands” division including Claudie Pierlot and Fursac recorded a strong momentum in the quarter.
In EMEA, the sales reached 89 million euros, up 7 percent on an organic basis with a strong retail like-for-like growth of 15 percent from both B&M and digital sales. The company said good performance of the largest markets such as the United Arab Emirates, Italy and Spain was partially offset by the end of the wholesale partnership in Russia.
In America, sales decreased by 3 percent on an organic basis. In APAC, with 71 million euros of sales in the first quarter, there was a 3 percent growth on an organic basis vs 2022. The region benefits from a good performance in Hong-Kong, Singapore, Malaysia and Macau and the integration of Australia and New-Zealand in the company’s own retail network.