- Prachi Singh |
French Group SMCP, made up of three fashion labels - Sandro, Maje, and Claudie Pierlot -, was able to register comparable revenue rise of 1.7 percent on constant exchange rate this fiscal year against 3.8 percent last year. Its brand divisions witnessed 20.5 percent increase in revenue, to 508.6 million euros (547.1 million dollars).
While the company’s performance in the French market was slow, its retail expansion with opening of twenty new stores across all its brands led to sales growth of 8.4 percent. On a comparable basis, the increase was 0.9 percent. However, the French share of sales reduced to 58.5 percent at the end of December 31, 2014 compared to 64.8 percent, last year. The Group has been able to carry out its rapid expansion on international locations with 80 percent of 91 store openings in 2014 happening abroad.
SMCP reported 4.7 percent increase on a comparable basis against 9.2 percent in 2013, in the rest of the Europe. The group opened 28 stores in the UK, Italy and Norway. Internationally, the company opened 22 new stores in North America, including concessions in Saks stores leading to revenue increase of 42.3 percent.
In Asia, the company opened doors to five retail locations in Mainland China along with the debut store in Singapore taking the total store count to 35. The group aims to publish its results for 2014 in the month of April.