Sandro, Maje Parent Company Credits Chinese Consumers for Q1 Sales Growth

SMCP, the owner of Maje, Sandro and Claudie Pierlot, said revenues rose 11.9 percent in the first quarter, lifted by fast growth abroad, and confirmed its guidance for the full year.

Sales for the period totaled 252 million euros ($305 million), up 15.8 percent after adjusting for currency rates, and the company cited “meaningful” market share gains in France, its home market.

“We are very pleased with this strong start to the year, including the outstanding performance in both Asia and the Americas, which demonstrates the relevance of our business model as well as the ever-growing desirability of our brands,” said SMCP CEO Daniel Lalonde.

Growth in Asia, where SMCP posted a 54.1 percent rise, led the quarterly performance. The company noted an acceleration in digital sales in the region as well as some shifts by Chinese consumers to buying in Asia instead of Europe.

In France, sales were up 0.7 percent as weather conditions and a decline in tourism weighed over the period.

Sandro, which opened 45 points of sale in the past 12 months, posted a 15.9 percent sales rise at constant currencies, the company said, noting growth in accessories and the launch of the Flames sneaker model.

Maje, which celebrated its 20th anniversary, counted 37 openings over the 12 months and posted 16 percent growth at constant currency rates. The brand continues to expand digitally.

Claudie Pierlot, which counted 15 new points of sale over the 12 months, clocked 14.1 percent growth at constant currency rates.

The company targets sales growth of between 11 and 13 percent for the year at constant exchange rates, and an adjusted margin on earnings before interest, taxes, depreciation and amortization of around 17 percent.

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