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Sandro, Maje, Claudie Pierlot’s Sales Fell 24 Percent in 2020

Robert Williams

29 January 2021

The French contemporary fashion group known as SMCP’s fourth-quarter sales fell 19 percent on an organic basis as coronavirus restrictions tightened in Europe, including a shut-down of non-essential retail in its key home market.

For the full-year, sales fell 24 percent, SMCP said in a statement Friday.

The Paris-based company, controlled by Chinese firm Shandong Ruyi, has slowed its retail expansion, adding just a dozen stores last year compared to 90 in 2019. Instead, it’s ramping up digital services like click-and-collect in its existing locations.

“I am confident that our plan will shape SMCP to the new world,” chief executive Daniel Lalonde said.

About the author

Robert Williams

Robert Williams is Luxury Editor at the Business of Fashion. He is based in Paris and drives BoF’s coverage of the dynamic luxury fashion sector.

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Retail

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