Retail in Asia


Record for H1 sales set by SMCP in Europe and America

On the first day of August, SMCP unveiled an all-time sales record for the first half of 2022. The “strong momentum” in Europe and America has already been recognised by a number of premium and luxury companies.

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As a result of like-for-like growth of 24.5 percent, H1 sales reached 565.4 million EUR, up 21.4 percent year-on-year on an organic basis. A 76 percent increase in adjusted EBIT pushed the company to 45 million EUR (8 percent of sales), compared to 26 million EUR (5.7 percent of sales), while net income rose sharply to 20.7 million EUR in H1 2021. Sandro’s sales rose 21.7 percent organically in the first half and 17.7 percent in the second quarter, the company reported. In the case of Maje, those percentages were 18.5 percent and 15.1 percent, respectively. Additionally, it saw 29,6 percent and 39.2 percent growth in sales for its so-called ‘other’ brands, such as Claudie Pierlot and Fursac.

Overall sales increased “despite significant restrictions on Covid in APAC”.

Source: Maje

As a result of China’s zero-Covid policy, there was a complete shutdown of physical locations and digital warehouses. In spite of this, Europe’s strong performance and high level of local demand offset the slow recovery of the tourism industry. As for America, growth was “substantial,” with a 28.1 percent rise over last year and 16.3 percent over the pre-Covid period.

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“We are very satisfied with our strong achievement over the first half of the year,” says SMCP’s CEO Isabelle Guichot.

She continues, “we were able to perform very well in all our regions where local clients’ spending was above pre-pandemic levels, apart from Asia, where our stores were temporarily closed due to Covid restrictions. This enabled us to reach an all-time H1 sales record. In addition, we accelerated on our CSR policy, by implementing a traceability program, and on our omnichannel ambition. Looking forward, while the current geopolitical and macro-economic environment creates some uncertainty, we confirm our 2022 full-year guidance if the situation does not further deteriorate.”