The success of small leather goods. The M handbag by Maje (in picture on the right) and the Yza model by Sandro (in picture on the left). These are the factors thanks to which the SMCP group (Sandro, Maje and Claudie Pierlot) had a positive 2020. The year, in line with the entire fashion industry, closed with a 22.9% reduction in revenue for the group. Yet, the online channel and China acted as lighthouses in the dark. “The impact of the crisis was limited by our strategy, said the CEO Daniel Lalonde.
M handbag by Maje and the Yza model by Sandro
SMCP closed 2020 with a revenue of 873 million euro: -22.9% at current rates and -23.9% at constant rates. As far as brands go, at constant rates, Sandro’s revenue dropped 24.4%, Maje’s by 22.7%. While Claudie Pierlot and De Fursac lost 25.9% overall. During the last quarter, the group’s sales decreased by 20.5%. SMCP has Toposho as majority stakeholder, which is itself a subsidiary of Shandong Ruyi). UK, Italy and Spain were the markets most hit by the pandemic, but luckily, in this especially dark period, the accessories’ category shined. The group’s management commented the 4th quarter by expressing satisfaction for the successes of the M handbag by Maje and the Yza model by Sandro. Additionally, a special collection of small leather goods items, which was launched just before Christmas, also performed well.
Online and China
“2020 was characterized by sudden acceleration of revenue due to e-commerce: +27.6% for the whole year and +43.1% in the 4th quarter”, which “allowed the group to partially compensate the impact of the crisis”, pointed out SMCP, which aims at brining the quota of digital sales to 25% before 2025. China also showed strong performances starting in June, as the region closed the year with organic sales up by 3.4%.