SMCP Achieved 88.9 Million Euro In French Market, Down Year On Year
On January 29, SMCP, a fashion group controlled by Ruyi group, released financial data for fiscal year 2020, with sales of 873 million euro, down 23.9% year-on-year. Among them, revenue in the fourth quarter was 251.9 million euro, down 19.4% year-on-year.
In 2020, SMCP also showed strong growth in digitalization (accounting for 27.6% of sales growth), with e-commerce sales as the group's focus, up 43.1%, partially offsetting the impact of the crisis. In the meantime, SMCP continues to innovate and test new formats to enhance digital channels, such as live streaming or virtual shopping, and to fulfill its "one journey" ambition by launching new Omni channel services, such as shipping from stores.
SMCP achieved 88.9 million euro in the French market, a decrease of 18.6% compared with the previous year, and a decrease of 33.3% in Europe and the Middle East, with sales in Asia increasing by 1.9% to 70.9 million euro.
Sandro fell 21.1% to 121 million euros, maje fell 14.9% to 98.5 million euros, and other brands fell 25.8% to 32.3 million euros.
"As expected, our sales were affected by the fourth quarter lock-in measures," said Daniel Lalonde, chief executive of SMCP. China's recovery since June and strong management of costs and cash have enabled us to limit the impact of the crisis. It is worth noting that in the last quarter, we have made solid progress on the digital roadmap through the launch of new Omni channel services and approaches for millennials, especially in China. "
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