French fashion retail giant SMCP reported Q1 sales up 9% on Monday with a 7.2% currency-neutral rise showing that it has enjoyed “another resilient quarter despite a challenging environment in France.”
France’s buoyant SMCP, the owner of the Sandro, Maje and Claudie Pierlot brands, on Tuesday announced a new partnership with China’s JD.com and will expand its online presence in the world’s key luxury growth market.
France accounts for over one quarter of the total sales of the top 100 luxury corporations worldwide according to Deloitte’s 2019 report, with 9 groups listed and LVMH, L'Oréal, Kering and Chanel in the top 10.
Premium Paris-based womenswear brand Ba&sh will open a store in the Carnaby area. The new location will be at 20 Beak Street, at the bottom end of Carnaby Street and not far from upscale Regent Street.
Having hit 1 billion euros in revenues and accomplished its objective of 13% growth in 2018, despite a slow-down at the end of the year, 2019 could well be the year that SMCP looks to acquire a new brand.