SMCP reports stable ready-to-wear sales despite strong regional disparities

French group SMCP, the parent company of brands Sandro, Maje, Claudie Pierlot and Fursac, published its first-quarter 2026 results on Tuesday. While overall turnover remains stable, performance was driven by international markets as the French market experienced a sharp decline.

The group's turnover stood at 287 million euros (335.6 million dollars), a slight year-over-year decrease of 0.8 percent. This apparent stability, however, masks diverging trends across different geographical regions.

France lags behind as international markets drive growth

The French market was the only one to decline, with turnover down 13 percent to 89 million euros. According to the group's statement, this underperformance was “penalised by a sluggish consumer environment” and “the contraction of the store network (BHV-SGM)”.

SMCP closed 25 points-of-sale in 2025. These were located within the BHV department store in Paris and former Galeries Lafayette stores in several regional cities, including Limoges, Dijon, Grenoble, Reims, and Angers. The group justified this decision by citing unpaid bills from SGM, the operator of BHV.

Isabelle Guichot, the group's chief executive officer, also explained that the decline was due to “a lower contribution from the official January sales”. The group chose to limit promotions to protect its brand image.

Dynamism in America and Europe

Conversely, SMCP demonstrated robust performance outside of France:

Americas: +11.7 percent (44 million euros).
Europe (excluding France) and the Middle East: +4.9 percent (103 million euros). The group specified that this figure was “not impacted” by the war in the Middle East at this stage. Deliveries for the spring/summer 2026 collection were completed before the conflict began.
Asia-Pacific: +2.6 percent (51 million euros).

Maje stands out

Performance among the individual brands was mixed. Maje showed the best growth with a 5 percent increase in sales. Sandro recorded a slight decrease of 1.4 percent, while the division comprising Claudie Pierlot and Fursac experienced a more significant drop of 15.1 percent.

“In the first quarter of 2026, the group demonstrated resilience in a challenging environment,” insisted Guichot. She praised “the positive momentum recorded in most regions”, seeing it as proof of “the solidity of our model and the relevance of our execution”.

Currently present in 59 countries, SMCP operates a network of approximately 1,600 points-of-sale worldwide.

This article was translated to English using an AI tool.

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