SMCP fly high in a good quarter, thanks to bags and shoes, despite Hong Kong

SMCP have been growing in double figures, despite Hong Kong, thanks to bags and shoes. In fact, in the third quarter, the revenues of the holding company, which is in control over Sandro, Maje and Claudie Pierlot brands, reached 274.5 million euros (that is, +9% at fixed rates of currency exchange). “Our company achieved a sound improvement with regard to accessories, as sales went up in double figures – they commented –, mostly driven by Maje and Claudie Pierlot, which keeps augmenting capital assets thanks to leather goods and footwear”.

The brands

Sandro brand’s sales increased by 11% at fixed rates of currency exchange, driven by a rewarding kick-off of fall-winter 2019-2020 collections. Meanwhile, Maje sales have been rising by 8.8%; ultimately, as regards Claudie Pierlot, sales have been growing by 2.1%.

The markets

In the AsiaPacific business area, SMCP sales have been increasing by 21.5% at fixed rates of currency exchange, despite Hong Kong long-lasting protests and riots. In continental China, the group’s global turnover enjoyed a remarkable boost, +30%. In the EMEA countries, sales have been rising by 12.2% at fixed rates of currency exchange. Overall, in the first nine months of the year, the group’s business earnings increased by 10% (that is, 814.9 million euros). SMCP have confirmed their financial outlook throughout 2019: they aim at boosting sales by 9% to 11% at fixed rates of currency exchange.

 

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