In reported terms, the accessible luxury player, owner of the Maje and Sandro labels, saw its sales jump 26.4 percent to 283 million euros year-on-year.
In France, the company saw its revenues increase 19.1 percent, or 22.7 percent on an organic basis, to 93.7 million euros. SMCP’s sales at home accelerated, it said, and it outperformed the market overall. It completed its domestic store optimization plan during the quarter, finalizing the closure of its Suite 341 multibrand format and closing 13 points of sale in total, mainly in smaller cities.
In the rest of the EMEA region, revenues increased 74.9 percent in reported terms, to 83.1 million euros, and were up 72.9 percent on an organic basis, exceeding 2019 levels for the first time since the beginning of the pandemic. Sales in the Americas grew 55 percent to 38.6 million euros, representing a 44.5 percent gain in organic terms.
Overall, business was boosted by the company’s increasing focus on a full-price strategy — its discount rate overall was down by 6.1 percentage points compared with the first quarter of 2021.SMCP confirmed its financial targets for the year — anticipating “solid double-digit sales growth” year-over-year and a stable profit margin — on condition that the health situation in Asia Pacific improves “relatively quickly,” it said.
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