Reuters has reported that the GLAS group of bondholders has taken a 28 percent stake in SMCP, the umbrella company of Sandro, Maje, and Claudie Pierot. It is likely they will sell the stake, which will result in SMCP having a new owner. SMCP’s ownership has come up as a point of contention ever since its majority stakeholder Shandong Ruyi...
29 Oct 2021
French premium fashion group SMCP has reported an uptick in Q3 sales compared to a year earlier as they neared pre-Covid levels. The group, whose portfolio includes brands Sandro, Maje, Claudie Pierlot and De Fursac, reported sales of 271.7 million euros in the third quarter, an 8.4 percent increase on an organic basis compared to 2020 levels,...
27 Oct 2021
The owner of French fashion company SMCP said that is has started legal proceedings against companies serving bondholders that were reportedly attempting to take control of SMCP for a low price. The news was reported by Reuters. TopSoho, a European company and a unit of Shandong Ruyi, which has a 53 percent stake in SMPC, failed to meet a...
8 Oct 2021
French fashion group SMCP has named Isabelle Guichot as its new CEO following the resignation of Daniel Lalonde, who has exited the business to pursue new professional opportunities outside the group. Guichot, a veteran of the luxury industry, joined SMCP as CEO of Maje in 2017, before which she spent nine years as CEO of Balenciaga. Earlier...
2 Aug 2021
French fashion group SMCP has reported soaring revenue in the second quarter of the year as it narrows in on 2019 sales levels. The group, whose portfolio includes brands Sandro, Maje, Claudie Pierlot and De Fursac, reported sales of 229.4 million euros in Q2, an increase of 59.1 percent on a reported basis and 61.1 percent on an organic basis...
27 Jul 2021
On the eve of China’s 100th year anniversary celebration of its Chinese Communist Party, France launched an investigation into the “concealment of crimes against humanity” by global textile giants, including Inditex and Uniqlo, who stand accused of having profited from the forced labour of Uighurs. France’s National Anti-Terrorism Prosecutor’s...
2 Jul 2021
In the first quarter of 2021, consolidated sales at SMCP, parent company of Sandro, Maje, Claudie Pierlot and De Fursac reached 223.9 million euros, down 0.6 percent on an organic basis. The company said, reported sales were down 2.1 percent, including a negative currency impact of 1.5 percent. Over the quarter, the group generated digital sales...
27 Apr 2021
French premium fashion group SMCP swung to a full-year loss in 2020 as its operations were impacted by the pandemic, but it remained upbeat on its recovery in China and strong digital sales. The group, whose portfolio includes brands Sandro, Maje, Claudie Pierlot and De Fursac, reported a net loss of 102.2 million euros for the year, compared to...
24 Mar 2021
French premium fashion group SMCP, whose portfolio includes brands Sandro, Maje, Claudie Pierlot and De Fursac, has announced the appointment of Patricia Huyghues Despointes as group chief financial officer. Despointes joins from luxury label Givenchy where she’s been chief financial officer since joining in 2016. Prior to that, she spent 15...
5 Jan 2021
French premium fashion group SMCP has named Olivier Malvezin as chief digital transformation & operations officer as the company moves “into a new chapter, in which digital and operations will have a key role”. In his new role, Malvezin will oversee digital, supply chain, IT and demand planning teams at the group level, and will join the group’s...
7 Dec 2020
SMCP, the parent company of Parisian labels Sandro, Maje, Claudie Pierlot and De Fursac, has swung to a loss in the first half of the year due to Covid-19, but says it has implemented a number of cost-cutting measures to ride out the pandemic. The French premium fashion group reported a loss of 88.5 million euros, compared to a profit of 17.2...
4 Sep 2020
French premium fashion group SMCP has announced it has obtained a state-guaranteed loan of 140 million euros to help it mitigate the financial impact of Covid-19. “The group has contracted a loan of 140 million euros, guaranteed by the French State (PGE) up to 90 percent with a one-year maturity loan and an extension option of up to five...
24 Jun 2020
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