Sandro parent SMCP reports solid sales growth in Q2
Sandro parent SMCP achieved a 10.1% increase in sales in Q2 at €265.7 million, a performance it said was in line with expectations.
The premium fashion group, which is also home to the Maje and Claudie Pierlot brands, said its growth had been aided by the "successful development" of accessories and solid progress in digital (which now makes up 14.8% of total sales), in particular in China.
“We are pleased with our Q2 sales which, as expected, showed a solid acceleration to +10.1%. In the first semester, our brands continued to launch beautiful collections, prominent stores and continued to focus on full price sales," said SMCP CEO Daniel Lalonde.
"We also delivered on our key priorities for 2019 such as driving retail excellence and accelerating our digital journey through partnerships with JD.com and Farfetch, which perfectly complement the Group’s growing digital presence. This leads us to confirm our full-year guidance.“
Sandro recently revealed it had signed a global partnership with Farfetch to advance its global digital expansion and its interests in China through Farfetch's relationship with JD.com. The brand is already available in 190 stores globally through its own digital operations and store network.
With Q2 sales of €118.1 million, it is the flagship brand in the portfolio. Maje achieved sales of €94.1 million while Claudie Pierlot hit €29 million for the quarter.