
French premium fashion group SMCP did better than expected last year with the Sandro, Maje, Claudie Pierlot and De Fursac owner saying core annual profit beat expectations.
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French premium fashion group SMCP did better than expected last year with the Sandro, Maje, Claudie Pierlot and De Fursac owner saying core annual profit beat expectations.
SMCP's full year and final quarter continued to be impacted by lockdowns around the world that drove sales downwards. But digital strength, new stores and a nascent recovery in China are reasons to be cheerful.
Menswear brand De Fursac, acquired by SMCP Group in late 2019, is changing its tone and has appointed co-founder of magazine So Press, Gauthier Borsarello, to take over from Alix Le Naour.
French premium fashion retailer SMCP has named LVMH’s Patricia Huyghues Despointes as its new CFO, a key role in normal times but even more so as companies grapple with the finance issues created by the pandemic.
Shandong Ruyi, the Chinese group that controls, SMCP, Aquascutum, The Lycra Company and Gieves & Hawkes, has defaulted on two CNY1bn/$153m bonds. It has been dealing with a massive debt load.
As SMCP ramps up its digital business, the French premium fashion company has named Olivier Malvezin as its new Chief Digital transformation & Operations officer.
Generating 10% of global sales in China by 2025 is one of the goals set by the SMCP group for its womenswear label Claudie Pierlot, which is being revamped to appeal to a younger clientèle.
SMCP, owner of brands including Sandro, said on Monday it would ramp up spending on advertising and focus store openings mainly on the Chinese market, pausing efforts elsewhere after years of rapid expansion.
After launching in Selfridges, menswear brand De Fursac, which was acquired a year ago by SMCP Group, has opened an 80 square-metre boutique in London, marking its first international store launch.
French premium fashion giant SMCP said on Wednesday that its CFO and operations director Philippe Gautier is leaving the firm in order to “pursue new projects”.