Again, Shandong Ruyi'S Light Luxury Group SMCP Or Jingdong.

France light luxury fashion group

(SMCP.PA) after the strong sales growth continued in the two quarter, the annual revenue target was raised.

In the two quarter, the group achieved sales of 241 million 300 thousand euros, an increase of 12.9% over the same period last year, and an increase of 15.2% after the impact of the exchange rate, slightly better than the 14.7% expected by the market, basically maintaining a 15.8% level in the first quarter.

In the first half of the year, global same store sales increased by 5.8% year-on-year, and physical retail and successful digital strategies contributed to growth.

E-commerce now accounts for 14.3% of the total sales of the group, up two percentage points from the same period last year, and the proportion of the North American market is more than 25%, while the three countries with the highest proportion are the United States, the United Kingdom and Germany.

SMCP SAS's three brands, Sandro, Maje and Claudie Pierlot, maintained double-digit growth, and the growth rates in the two quarter were 14.7%, 16.6% and 13% respectively.

Sandro and Maje, which sell 118 million 100 thousand euros and 94 million 100 thousand euros respectively, have opened 33 Direct stores in the past 12 months. Among them, the Maje Chaoyang new store in Beijing, which opened in May, is a milestone in SMCP SAS China 100 stores, and Claudie Pierlot has added 23 outlets.

SMCP SAS has been expanding in recent years with 80-90 Direct stores.

Daniel Lalonde, chief executive officer, revealed that this year's expansion will be slightly improved and will continue to be dominated by Europe and the Asia Pacific region.

In the two quarter, the group added 39 Direct stores and increased the total number of outlets opened to stores in the past 12 months to 86. As of the end of the season, the group has 1381 outlets in the world and 1108 of the direct outlets.

"French native.

The environment is still tough, the group pointed out in the quarterly report, sales fell by 0.7% to 87 million 100 thousand euros per year, but its brand can continue to increase market share.

Europe, the Americas and the Asia Pacific region have achieved 15.1%, 27.1% and 47.7% fixed exchange rate sales growth respectively.

During the period, European expansion was focused on Italy and Germany, and the flow rate and conversion rate of American entities were increasing, and e-commerce was excellent.

The strong growth in the Asia Pacific region reflects the success of e-commerce and the popularity and attractiveness of the brand.

Philippe Gautier, chief financial officer, disclosed to analysts the first half of the year.

The same store sales growth has reached a high double-digit, Europe is also higher than the average level, dragging behind is undoubtedly the French local market.

In recent years, group management has been trying to reduce dependence on the French local market by expanding international and digital services to make global development more balanced.

Daniel Lalonde pointed out that when he became president and CEO of the SMCP SAS in 2014, France accounted for 72% of the group's total sales, while the proportion of Europe and Asia Pacific region increased to 30% and 20% respectively at the end of the two quarter of four years to 36.1%.

SMCP SAS now expects sales in 2018 to rise by more than 13% after 2017, while the original forecast is 11%-13%, with a target profit margin of 17% adjusted by EBITDA.

Maje Beijing Chaoyang Joy City new store is the milestone of SMCP SAS China 100 store.

Daniel Lalonde said that China's growth continued to accelerate. Since 2016, its brands have entered the Tmall platform of China's largest e-commerce group Alibaba Group Holding Ltd. (NYSE:BABA) Alibaba, and the Independent E-commerce website in October 2017. By the end of the first half of this year, the proportion of e-commerce sales in China has been close to the average level of global business.

He also stressed that the activities of Tmall Maje, such as double eleven and April 27th's super brand day, played a positive role in promoting passenger flow and attracting new customers, especially in mobile sales (90%).

For Berenberg analyst Marina Horn asked

The controlling shareholder, Ruyi group (002193) and China's major luxury electric business Secoo Holding Ltd. (NASDAQ:SECO) Temple library reached a potential impact on strategic cooperation last month. Daniel Lalonde said this does not mean that SMCP SAS will use the platform.

He also revealed that Jingdong and JD.com Inc. (NASDAQ:JD) have raised their willingness to cooperate. However, the group hopes to develop step by step, but it is expected to join the new platform in the second half of next year. This may be Temple library, Jingdong or other Chinese electricity providers.

"For us, Tmall is the main platform," Daniel Lalonde said.

He expects Tmall's scale advantage to continue to lead the rapid growth of SMCP SAS.

In response to questions raised by Morgan Stanley Morgan Stanley analyst Edouard Aubin, Daniel Lalonde said that the productivity of China's stores is far higher than the group average of 14 thousand euros per square meter, and the profit margins are also consistent.

As for the target of retail sales in Greater China, Daniel Lalonde said that the group that entered China in 2013 now has 140 stores in 24 cities, and expects that the number of stores will reach at least 6-7 years.

Now the size of the 500 shop, "500 is already a relatively conservative target," he said.

In October 2017, SMCP SAS (SMCP.PA) fell to the Paris stock exchange for 22 euros. The stock closed at 24.76 euros on Wednesday, and has risen 29% since 2018. At present, the group's market capitalization is about 1 billion 800 million euros.