Latest news with #Sandro
Fashion United
6 hours ago
- Business
- Fashion United
SMCP H1 sales increase by 2.7 percent
Sales for the prêt-à-porter group SMCP, parent company of Sandro, Maje, Claudie Pierlot and Fursac, increased by 2.7 percent in the first half of the year to 601 million euros. Growth occurred in all geographical areas except Asia. This "solid" performance, especially in the US, was "remarkable" in a market that remains "uncertain and demanding", commented chief executive officer Isabelle Guichot during a press conference on Tuesday. The Asia Pacific region recorded a 9 percent drop in sales. These results are explained by the "optimisation of the store network carried out in 2024", according to the press release, notably in China, said Guichot. Guichot praised the "promising beginnings in new countries such as India, Indonesia and the Philippines". Turnover in France increased by 2.3 percent. Sales in the Europe-Middle East-Africa zone (excluding France) increased by 6.3 percent and those in the Americas region by 10.3 percent. By brand, Sandro led sales (plus 3.4 percent) followed by Maje (plus 2.5 percent). The other two brands (Claudie Pierlot and Fursac) recorded a combined increase in their sales of 0.6 percent. SMCP returned to profit, with a net profit of 11 million euros compared to a loss of 27.7 million euros in the first half of 2024. The group attributes this "good momentum" in particular to the rationalisation of its store network. This was achieved by opening stores in strategic markets and closing others that were not profitable. SMCP now has 1,642 points of sale internationally, 20 fewer than at the end of December. This is also due to "strict control of its stock and investments", with stock having decreased by 13 percent in comparable half-year periods, according to the press release. When questioned by the AFP about the possible impact of Donald Trump's trade war on the group's performance in the US market, Guichot indicated that SMCP "had already hedged itself" by increasing its prices in the US as early as last April. This article was translated to English using an AI tool. FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@
Fashion Network
15 hours ago
- Business
- Fashion Network
SMCP demonstrates strong growth momentum in the first half
Home › News › Business Download Print The SMCP Group, parent company of the Sandro, Maje, Claudie Pierlot, and Fursac brands, recorded sales of 601.1 million euros in the first half of 2025, up 3% organically compared to the same period in 2024. This momentum was reinforced in the second quarter, with organic growth of 3.3% to 304.5 million euros, confirming an acceleration compared with the first three months of the year. Maje - Wertheim Village Growth continued to be driven by the EMEA (excluding France) and Americas zones. In Europe, Middle East, and Africa, first-half sales totaled 204 million euros, up 5.9% organically. This performance was underpinned by like-for-like growth of 6%, rigorous execution of the full-price strategy, and expansion via partners, notably in the Balkans and Jordan. In the Americas, six-month organic sales rose by 11.9% to 93.5 million euros. The increase even reached 21.6% in the second quarter, thanks to a combination of price effects in the United States, volume growth, and the success of the 2024 openings. Despite 25 net store closures in the region, momentum remains positive across all channels, including Mexico and Canada. In France, sales remained stable, with a moderate increase of 2.3% over the half-year to 207 million euros. This performance is in line with a high basis of comparison and a sales policy focused on full price. The network was streamlined, with 16 net closures, mainly at Claudie Pierlot."This is our historic market; we're still very strong, and there's a competitive context that's favorable to us, and we're gaining market share," explained the group's CEO. "We're very cautious, but we're still the category leader in France."The Asia-Pacific region, on the other hand, posted an 8.0% organic decline to €96.6 million, impacted, according to the group, by the full-year effect of the network reduction in China implemented in 2024. On a like-for-like basis, however, the trend stabilized. Group management stressed that the zone benefited from good results in several Southeast Asian markets and the promising start-up of activities in India and Indonesia. Sandro, the group's leading brand, recorded organic growth of 3.7% over the half-year, to 302.2 million euros. Maje grew by 2.9% to 224.3 million euros. The portfolio's "other brands"—Claudie Pierlot and Fursac—posted a slight increase of 0.5% to 74.6 million euros, despite ongoing rationalization of the network. Enhanced profitability Adjusted EBIT more than doubled to 42.6 million euros, compared with 18.8 million euros a year earlier. Margin rose from 3.2% to 7.1% of sales. This improvement was driven by lower operating expenses, better absorption of fixed costs, and a 3-point reduction in the average discount income was positive at 11 million euros, compared with a loss of 27.7 million euros for the same period in 2024. Free cash flow reached 33.1 million euros, an all-time high for a first half-year. Net debt was reduced to 205.6 million euros, versus 292.5 million euros at June 30, 2024, reducing leverage to 1.9 times adjusted Ebitda."We announced this and we're delivering, even if some observers were skeptical. It's a very good message for the financial community," said Isabelle Guichot with satisfaction."This momentum rewards the work of our teams on the desirability of our brands and the pursuit of our full-price strategy. The initiatives launched in 2024 are now bearing fruit and have enabled us to more than double our adjusted EBIT margin. This financial discipline is also reflected in strong cash flow generation and a significant reduction in our net debt." In addition, SMCP said it had been informed of a Singapore High Court ruling on July 4, ordering Dynamic Treasure Group Ltd to return to European Topsoho S.à r.l. the 15.5% of SMCP's share capital sold in 2021. The company points out that, as the restitution deadline had not been met, forced transfer proceedings have been initiated by the creditors under the GLAS umbrella. The order is subject to appeal. The resolution of this conflict would enable the Group to envisage a new phase. This article is an automatic translation. Click here to read the original article. Copyright © 2025 All rights reserved. Tags : Fashion Ready-to-wear Business Fashion Jobs : SMCP CLAUDIE PIERLOT
Fashion Network
15 hours ago
- Business
- Fashion Network
SMCP demonstrates strong growth momentum in the first half
Home › News › Business Download Print The SMCP Group, parent company of the Sandro, Maje, Claudie Pierlot, and Fursac brands, recorded sales of 601.1 million euros in the first half of 2025, up 3% organically compared to the same period in 2024. This momentum was reinforced in the second quarter, with organic growth of 3.3% to 304.5 million euros, confirming an acceleration compared with the first three months of the year. Maje - Wertheim Village Growth continued to be driven by the EMEA (excluding France) and Americas zones. In Europe, Middle East, and Africa, first-half sales totaled 204 million euros, up 5.9% organically. This performance was underpinned by like-for-like growth of 6%, rigorous execution of the full-price strategy, and expansion via partners, notably in the Balkans and Jordan. In the Americas, six-month organic sales rose by 11.9% to 93.5 million euros. The increase even reached 21.6% in the second quarter, thanks to a combination of price effects in the United States, volume growth, and the success of the 2024 openings. Despite 25 net store closures in the region, momentum remains positive across all channels, including Mexico and Canada. In France, sales remained stable, with a moderate increase of 2.3% over the half-year to 207 million euros. This performance is in line with a high basis of comparison and a sales policy focused on full price. The network was streamlined, with 16 net closures, mainly at Claudie Pierlot."This is our historic market; we're still very strong, and there's a competitive context that's favorable to us, and we're gaining market share," explained the group's CEO. "We're very cautious, but we're still the category leader in France."The Asia-Pacific region, on the other hand, posted an 8.0% organic decline to €96.6 million, impacted, according to the group, by the full-year effect of the network reduction in China implemented in 2024. On a like-for-like basis, however, the trend stabilized. Group management stressed that the zone benefited from good results in several Southeast Asian markets and the promising start-up of activities in India and Indonesia. Sandro, the group's leading brand, recorded organic growth of 3.7% over the half-year, to 302.2 million euros. Maje grew by 2.9% to 224.3 million euros. The portfolio's "other brands"—Claudie Pierlot and Fursac—posted a slight increase of 0.5% to 74.6 million euros, despite ongoing rationalization of the network. Enhanced profitability Adjusted EBIT more than doubled to 42.6 million euros, compared with 18.8 million euros a year earlier. Margin rose from 3.2% to 7.1% of sales. This improvement was driven by lower operating expenses, better absorption of fixed costs, and a 3-point reduction in the average discount income was positive at 11 million euros, compared with a loss of 27.7 million euros for the same period in 2024. Free cash flow reached 33.1 million euros, an all-time high for a first half-year. Net debt was reduced to 205.6 million euros, versus 292.5 million euros at June 30, 2024, reducing leverage to 1.9 times adjusted Ebitda."We announced this and we're delivering, even if some observers were skeptical. It's a very good message for the financial community," said Isabelle Guichot with satisfaction."This momentum rewards the work of our teams on the desirability of our brands and the pursuit of our full-price strategy. The initiatives launched in 2024 are now bearing fruit and have enabled us to more than double our adjusted EBIT margin. This financial discipline is also reflected in strong cash flow generation and a significant reduction in our net debt." In addition, SMCP said it had been informed of a Singapore High Court ruling on July 4, ordering Dynamic Treasure Group Ltd to return to European Topsoho S.à r.l. the 15.5% of SMCP's share capital sold in 2021. The company points out that, as the restitution deadline had not been met, forced transfer proceedings have been initiated by the creditors under the GLAS umbrella. The order is subject to appeal. The resolution of this conflict would enable the Group to envisage a new phase. This article is an automatic translation. Click here to read the original article. Copyright © 2025 All rights reserved. Tags : Fashion Ready-to-wear Business
Yahoo
a day ago
- Business
- Yahoo
SMCP Q2 Sales Up 3% With Full-price Strategy Boosting Growth
PARIS — SMCP, the parent company of Sandro and Maje, reported modest growth as the French fashion group continues to pursue a strict full-price strategy to stabilize sales across its high street brands. In the second quarter, sales rose 3.3 percent on an organic basis, reaching 304.5 million euros. More from WWD SMCP Secures Singapore Court Victory in Battle Over Disputed Share Transfer Princess Beatrice Brings Understated Flair in Striped Sandro Look to First Day of Wimbledon 2025 SMCP Sales Gain 2.6% in Q1 Amid Strategic Shift Away From China The Americas delivered a standout performance, with second-quarter sales surging 21.6 percent. This growth was fueled by price increases and higher volumes, supported by the momentum from several U.S. store openings last year. Regional sales reached 49.6 million euros, despite the closure of 25 points of sale in Canada following the shutdown of Hudson's Bay locations. The company is currently seeking a new partner in Canada. In its home country of France, sales edged up by less than 1 percent to 104.9 million euros. Across the rest of the Europe, Middle East and Africa region (excluding France), sales increased by 3 percent to 106 million euros. SMCP noted that retail performance remained steady, while wholesale results were affected by timing shifts. In the Asia-Pacific region, sales declined by 6.2 percent to 43.9 million euros, reflecting a wave of store closures, including the exit from China. However, EMEA benefited from expansion into new markets, such as the Balkans and Jordan. By brand, Sandro posted a 3.3 percent increase in second-quarter sales, reaching 154.7 million euros. Sister brand Maje grew 4.9 percent to 113.6 million euros. Combined sales for Claudie Pierlot and men's brand Fursac totaled 36.2 million euros, down 1.3 million year-over-year, in line with expectations following the closure of four Claudie Pierlot stores during the period. For the first half of the year, total sales reached 601.1 million euros, representing a 3 percent organic increase. Best of WWD Harvey Nichols Sees Sales Dip, Losses Widen in Year Marred by Closures Nike Logs $1.3 Billion Profit, But Supply Chain Issues Persist Zegna Shares Start Trading on New York Stock Exchange
Mint
23-07-2025
- Business
- Mint
Fidel Castro's grandson slammed for flaunting lavish lifestyle amid Cuba's economic crisis
At a time when Cuba is grappling with its worst economic crisis in decades, Fidel Castro's grandson, Sandro Castro, is drawing widespread criticism for showcasing his extravagant lifestyle on Instagram. According to El País, the 33-year-old, who has over 1.2 lakh followers, regularly posts clips of himself cruising in luxury cars through Havana, partying on yachts with bottles of Cristal beer, and hosting high-end gatherings at his private club, EFE Bar. In one recent video, Sandro appeared to mock the ongoing blackouts in Havana, where residents are often left without electricity for up to 20 hours a day. In another clip, he called Cristal beer 'medicine that must never be missing from his bar.' He also filmed himself urging US President Donald Trump to 'give opportunity and life to the migrant,' at a time when Cuba is witnessing one of its largest exoduses in modern history. Sandro Castro is the son of Alexis Castro Soto del Valle, one of Fidel Castro's five sons from his second marriage. Fidel Castro, who led the Cuban Revolution and ruled for nearly five decades, was known for promoting values of austerity, discipline, and sacrifice. His grandson's public displays of wealth stand in stark contrast to the ideals the former leader propagated. Born when Fidel Castro was 65, Sandro was raised in the elite gated community of Punto Cero in Havana, far removed from the economic hardships faced by most Cubans. According to the Daily Mail, Sandro also frequently shares videos from El Patrón, a countryside resort that charges around $100 a night—more than four months of the average Cuban salary, which is just $16.50 a month. Cuba is currently facing an unprecedented financial crisis, marked by severe shortages of food, fuel, and medicines. Inflation is soaring, and the island nation's import-heavy economy has suffered a 30% drop in foreign currency revenue in recent years, as per a Reuters report published in July. Amid this turmoil, videos of Sandro's lavish parties, where entry fees reportedly touch 1,000 Cuban Pesos and table reservations cost up to 15,000 CUP, have triggered anger and disbelief among citizens. This isn't the first time Sandro has sparked backlash. In 2021, during the peak of the COVID-19 pandemic, he went viral for a video shot inside a luxury Mercedes-Benz. After facing online outrage, he later clarified that the car belonged to a friend and he was merely 'testing it out.'
